Fast track entrepreneur visa attracting investment to the UK

by Ray Clancy on January 13, 2012

UK seen to provide good conditions for starting up and developing businesses

The UK is one of the easiest places to operate a business in Europe with its entrepreneur visa seen as an opportunity for investment, it is claimed.

Russian businessman Sergey Dunyushin, who has recently set up a parquet floor manufacturing company based in London and Hertfordshire that is set to employ up to 30 people over the next three years, said he originally considered Germany.

But he found the process of for a Tier 1 of the Points Based System Entrepreneur Visa easier and faster.

‘We were interested in further developing our company and gaining access to global markets. The UK was considered as one of the easiest places to set up and operate a business in Europe, offering a business friendly environment, excellent infrastructure, including first class international business and transport links, and the ability to find new partners as well as new clients,’ he said.

‘The visa procedure is well balanced, clear and understandable. Of particular help was the extended period of business registration, which is currently six months instead of three previously. Relocating from one country to another is never an easy task, and so the new six month period is more suitable,’ he explained.

‘In my opinion, the UK provides very good conditions to start up a new business or develop an existing one. It offers more business potential than many other locations. All you need to do is to convert this potential into reality,’ he added.

UK Trade and Industry has a Global Entrepreneur Programme (GEP) which helps pioneering start ups expand globally using the UK as a strategic headquarters for international expansion.

A spokesman said that the programme connects entrepreneurs with investors, management talent and strategic partners in the UK to turn their innovation into a global success.

‘GEP is unique in that it combines commercial flair and acumen with the ability to open doors that only a Government department can offer,’ he added.

Also, under new rules there is a fast track for high value investors and entrepreneurs. Those who invest large sums of money will be given the right to settle permanently in the UK faster. Those who invest £5million will be allowed to settle after three years and those that invest £10 million or more will be allowed to settle after two years. This compares with the minimum five year requirement that is currently in place.

Entrepreneurs will also be able to settle in the UK more quickly if they create ten jobs or turn over £5 million in a three year period.

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