The new, liberalised visa and immigration system implemented by the UK government has opened the way for SMEs and start-ups from across the region to have easier access to British markets than ever before, said an industry expert.
The new system particularly favours ambitious SMEs wishing to take advantage of a burgeoning economic climate, according to Yash Dubal, Director of London-based A Y & J Solicitors.
"The British SME sector is booming. At the start of 2020, there were 5.9 million small businesses, up 1.9% on the previous year. They are the lifeblood of the UK economy, accounting for 50 percent of the total revenue generated by UK businesses and 44 percent of the country's labour force,” he said.
“The UK government's broad move to lower investment limits, ease visa terms and ensure more flexibility in rules comes at a time when the demand to move abroad is rising fast, be it among professionals or students.”
One of the options for businesses wishing to expand into the UK is the Sole Representative visa, which allows a senior employee of an overseas business to set up and run a UK branch or wholly owned subsidiary of the parent company.
This visa is the perfect vehicle for business owners who are interested in launching into new markets and taking advantage of the favourable climate for SMEs in the UK. It can also open the gateway to full British citizenship. No minimum investment is requirement, although candidates must demonstrate financial viability and enough capital to set up a UK branch office to qualify.
Dubal added: "This little-known UK visa is not the only avenue that SMEs can now take towards obtaining a British Passport, as liberalized immigration rules post-Brexit have now levelled the playing field for all nations."
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