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Visas for super-rich coming to UK to be relaxed

Immigration laws for the wealthiest foreigners coming to the UK are to be relaxed.

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The new rules, which form part of a wider move to overhaul immigration laws, would effectively fast-track the biggest spenders to permanent residency, with anyone spending more than £10m qualifying in just two years, compared with the minimum of five years it would currently take. Investors spending £5m would qualify in three years, while those spending £1m would qualify in five years.

Once made residents of the UK, investors would be free to withdraw their investment.  

In addition, the amount of time those seeking residency have to remain in the country will also be cut from nine to six months.

Businesses will also find it easier to bring in staff on entrepreneur visas, with the new rules allowing businesses to bring in an extra overseas employee for every additional $50,000 of investment.

The proposals are yet to be endorsed by the UK parliament.
 

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