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The United Kingdom has always been a favorite immigration destination for Indians, be it for work or study. If you look at the immigration figures for the year ended June 2022, more than 118000 Indians got student visas which is 89% from last year. In the same year, a total of 103000 work visas were also issued to Indians which was 148% more than the previous year. Indians accounted for over 46% of the total Skilled Work Visas issued by the UK in the year ending June 2022.
India has always shared good trade relations with the United Kingdom. In fact, India is the second largest FDI contributor to the UK. It is interesting to note that more than 900 Indian companies are operating in the United Kingdom. They have generated revenue of over USD 68.04 billion in 2022 and created employment for 141005 people.
The transition to a 15-day visa process makes it convenient for Indian citizens to apply for and receive their visas faster. Faster visa processing will help Indian investors make their decisions faster. This will help them migrate to the United Kingdom and start a business there.
The United Kingdom has long been the destination of choice for Indian students, entrepreneurs and professionals. The UK government is keen to simplify the visa process so that eligible individuals can easily travel to the UK. High net-worth individuals from India are eager to move to the United Kingdom to set up their businesses or expand existing operations as the UK offers them a wider reach.
The trend of wealthy Indians moving to the UK and buying homes has been increasing over the past few years. Indians find it attractive to migrate to the United Kingdom because of familiarity with the language, good infrastructure, pollution-free environment, proximity to capital markets, ease of doing business, ideal time zone for dealing with multiple countries and so on. This has encouraged many wealthy Indians to move to the United Kingdom and focus on setting up businesses there. Good education and medical facilities encourage high net worth Indians to migrate to the UK as a family.
There is another visa category that is becoming popular among Indian investors – as the sole representative of foreign trade. This visa allows global businesses to set up a branch office or subsidiary company in the UK and appoint an immigrant who is not a major shareholder in the overseas operation to run the business. A sole representative is allowed to take his family including his spouse and minor children. The initial visa is for 5 years at the end of which the visa holder can apply for indefinite leave or permanent residence. This is a route that is used by Indians in various sectors to get to the UK. It covers various industries like technology, fast food, construction etc.
Property investment in the United Kingdom has also found favor with high-net-worth Indians, with most looking to buy a second home in the UK. This gives them scope for capital appreciation and a chance to grow permanently in the future.
Expediting the visa process for the United Kingdom will elicit a favorable response from Indian investors as the lure for greener pastures remains. This will give them a good opportunity to explore property investment or take advantage of the favorable business environment and ease of procedures for setting up a business in the United Kingdom. This is giving Indian entrepreneurs an opportunity to expand their operations globally by setting up a branch in the UK which will give them access to the European market. It is expected that the movement that slowed down during the pandemic due to the slowdown in visa processing will once again pick up speed with the expedited visa processing. In times to come, we are bound to see more applications from investors and entrepreneurs as they seek a better quality of life with career and wealth-building opportunities in the United Kingdom.
disclaimer
The above opinions are the author’s own.
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