UK immigration norms putting off foreign investors
United Kingdom, 27th July: Stricter rules for UK immigration are acting as a barrier for wealthy foreigners wanting to come to the UK.
This has been revealed by a recent report by the UK government.
Wealthy investors put off by UK immigration rules—New stricter UK immigration provisions are restricting foreign rich nationals from coming to the UK. The report by government sources further maintains that such a scenario is frustrating efforts of the UK to come out from the recession.
As per the figures recently unveiled, nearly half of prospective foreign nationals wanting to invest in the UK businesses that said red tape, taxation, skill requirements and planning norms hindered their entry in the UK.
Immigration should be the top concern—Theresa under pressure--The report by the UKTI(UK Trade and Investment-an investment body alluring foreign firms to the UK) has cautioned the UK government to work towards allowing immigrant investors to come to the UK by maintain that immigration ought to be the top concern for the nation.
No wonder, such findings have increased pressure on the already burdened UK Home Secretary Theresa May. She is being urged to ease down restrictions for skilled foreign workers wanting to come to the UK.
Only then can the UK be successful in attracting foreign investments, the report affirms.
It may be worth mentioned that May had earlier introduced tough UK immigration rules to help Tories meet their target of bringing down UK immigration levels to around 100,000 from the current 250,000.
Report highlights--Among the highlights of the report include—
• Easing UK visa rules for foreigners wanting to work in the UK;
• Effect of banning skilled foreign workers with expired visas to return to jobs within one year on recruitment of interns;
• Requirement for higher English levels for skilled workers;
• Requirement of a separate UK visa apart from having a visa for EU countries in the open borders Schengen agreement zone is a major obstacle for Chinese investors;
• The condition of reapplying for UK ICT(Intra company transfer) visas;
• Introduction of a five year limit in the UK for workers seeking transfer within firms having a bad effect on business;
• Artificial inflation of salaries for fulfilling the ICTs threshold;