ANNOUNCEMENT 16 Mar 2011In March 2011, the British government announced a change to the rules for resident foreign nationals.
NUMBER OF INTERVENTIONS
UK Border Agency. (2011). Government 'rolls out the red carpet' for entrepreneurs and investors. Available at http://www.ukba.homeoffice.gov.uk/sitecontent/newsarticles/2011/march/39-entrepreneurs-investors
On 16 March 2011, the British government announced a relaxation of the requirements for permanent settlement of foreign entrepreneurs. Depending on the amount invested in the UK, foreign entrepreneurs may now acquire a settlement permit faster than the previous 5 year minimum residence.
Under the new regulation, foreign entrepreneurs investing more than Ł5 million may apply for permanent settlement after 3 years in residence. Those investing more than Ł10 million may do so after 2 years already.
Also, entrepreneurs that turn over more than Ł5 million in their first three years in the UK or create more than 10 jobs in the same period may apply for an early settlement permit thereafter.