Put in £5 million, settle after 3 years; double the amount, reduce time by a year
17th March 2011: The pastures are turning greener for foreign entrepreneurs and investors, as the government is giving a clear indication that you can settle faster in the UK by investing large sums of money.
For the government has rolled out a `red carpet’ for them. They are, in fact, being given an extra incentive to come to the UK by new visa rules, which reward those contributing to economic growth.
Under changes to the Immigration Rules laid in Parliament, people coming to the UK under Tier 1 (Investor) of the points-based system will be able to settle here faster, if they invest large sums of money.
Those investing £5 million will be allowed to settle here after three years, and those investing £10 million or more will be allowed to settle after two years. This compares with the current minimum 5-year requirement.
The UK Border Agency said: `The right to accelerated settlement will apply to those investors who are already in the UK and have invested large sums, as well as new arrivals.
`Tier 1 (Entrepreneur) migrants will also be able to settle in the UK more quickly if they create 10 jobs or turn over £5 million in a 3-year period’.
The UKBA added: `The standard investment threshold for an entrepreneur to qualify for a Tier 1 visa will remain at £200,000, but the government will allow high-potential businesses to come to the UK with £50,000 in funding from a reputable organisation. And entrepreneurs will be allowed to enter the UK with their business partners as long as they have access to joint funds….’