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UK Creating Incentives To Draw Inventors, Entrepreneurs
Do you have a measly £5 million that you can put in a British? If so, you will earn the right to stay in the country indefinitely after only three years if you do. According to The Telegraph, £10 million will guarantee you that right in only two.
The normal wait for migrants is five years.
This is all a part of a new set of measures they have put in place to help draw in new entrepreneurs and investors.
Plans to lure the super-rich will also see the number of days overseas visitors are allowed to spend out of the country, whilst still qualifying for UK residence rights, double from 90 to 180.
There will also be a relaxation of rules for entrepreneurs, who will be encouraged to stay in the country after setting up successful businesses.
Those who create 10 jobs or achieve an annual turnover of £10 million a year for their UK business will be eligible to settle in Britain after three years.
Up to 1,000 migrants who have “won international recognition in scientific and cultural fields”, or have the potential to do so, will also be allowed to take advantage of relaxed immigration rules.
Alex Ruffel of Berkeley Law, which specialises in immigration matters for high net worth individuals, said the new rules could double the 275 wealthy investors and entrepreneurs who came to live in Britain last year.
Photo by ukhomeoffice
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Nan on March 18th, 2011 9:34 am
This is funny. Over the years the government has done all it can to kill small business. The UK is one of the most costly, taxed and red tape driven places to run a business on earth. Productivity is sub-normal. Why on earth would ANY non-British entrepreneur want to open a business in the UK?
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