Thursday, 17 March 2011

Quicker Settlement for Tier 1 Entrepreneurs and Investors

Yesterday it was confirmed the foreign entrepreneurs and investors that contribute to the UK's Economic Growth will be given an extra motivation to come to the UK by reducing the time it takes to settle in the UK.

Those foreigners looking to come to the UK under Tier1 Entrepreneur or Tier 1 Investor will be allowed to settle in the UK faster provided they have invested large sums of money in the UK.

People who invest 5 million pounds will be allowed to settle after 3 years and people investing 10 million pounds or more will be allowed to settle after only 2 years compared with the current 5 year settlement requirement.

These new rules will apply to new investors and those already in the UK, as well as the rules set out above Tier 1 Entrepreneur migrants will also be allowed to settle faster if they create 10 jobs or turn over 5 million in a 3 year period.

Also the new Tier 1 (Exceptional Talent) will be running from April 2011, this category is meant for recognized or potentially recognized leaders in the fields of arts, humanities and sciences.

There are only 1000 of these visas available per year and applicants do not need sponsorship or employment but will need to be endorsed by an accredited body. These bodies will be announced in the near future so check back for a full list soon.

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