How the UK’s 15-day visa process is reshaping the future for Indian investors and businesses
12 Dec 2022
How the UK’s 15-day visa process is reshaping the future for Indian investors and businesses
The United Kingdom has always been a favourite immigration destination for Indians, be it for work, or study, as the records show. According to immigration statistics, for the fiscal year ending June 2022, over 118,000 Indians received a student visa, an increase of 89% from the previous year according to industry analysis.
In the same year, over 103000 work visas were issued to Indians, an increase of 148% over the previous year. Indians received more than 46% of all skilled work visas issued by the UK in the fiscal year ending June 2022.
India and the UK have historically had productive business relationships. In reality, India is the UK's second-largest source of foreign direct investment. It's noteworthy to note that more than 900 Indian businesses operate in the UK. By 2022, they will have earned more than $68.04 billion in revenue and employed 14,1005 people.
Indian people can now apply for and acquire their visas quickly thanks to the change to the 15-day visa process. The expedited visa procedure will hasten the decision-making process for Indian investors. They should be able to immigrate to the UK and start businesses there with the aid of this.
For a very long time, Indian professionals, businesspeople, and students have favoured moving to the United Kingdom. The UK government is committed to streamlining the visa application process to make it simpler for qualified people to relocate to the UK. Since the UK offers them a greater reach, high-net-worth individuals from India are eager to go there to launch new enterprises or grow already-existing ones.
Indian investors are increasingly choosing to apply for visas under a different category known as "sole representative of an overseas business." With the help of this visa, multinational corporations can establish a branch office or a subsidiary in the UK and hire one immigrant to operate the business who is not the largest shareholder in the foreign activities.
The only representative may bring his spouse and any young children with him. The initial visa is valid for five years, after which the holder may apply for either permanent residency or indefinite leave to remain. Indians are travelling this path in order to move to the UK. It covers a variety of businesses, including fast food, construction, and technology.
Investing in property in the United Kingdom has also found favour with high-net-worth Indians, with most of them seeking to buy a second home in the country. They now have the potential for capital growth and the opportunity to relocate permanently in the future according to business analysis.
Indian investors are sure to respond favourably to the expediting of the visa process for the United Kingdom as long as the lure of greener pastures persists. This will present them with a fantastic opportunity to investigate real estate investments or launch a firm in the UK to benefit from a welcoming business environment and simplified regulations. Indian entrepreneurs now have the opportunity to grow their businesses internationally by opening a branch in the UK, which would offer them access to the European market.
Conclusion: With the faster visa process, it is anticipated that the movement, which had slowed during the epidemic due to the slowdown in visa processing, will pick up speed once more. As investors and business people look to the UK for a higher quality of life as well as career and wealth-creating opportunities, we will undoubtedly see an increase in the number of applications.