Indians make up the lion’s share of foreign citizens granted a skilled worker visa in the United Kingdom.
A British High Commission spokeswoman informed The Indian Express that over 65,500 skilled worker visas were awarded to Indian people in the last year alone. This represents a 14% increase over 2019, reflecting the attractiveness of the points-based immigration system.
If you meet the following criteria, you will be granted a skilled workers visa in the United Kingdom:
- work for a UK employer that’s been approved by the Home Office
- have a ‘certificate of sponsorship’ from your employer with information about the role you’ve been offered in the UK
- do a job that’s on the list of eligible occupations
- be paid a minimum salary – how much depends on the type of work you do
As part of current economic talks between the two countries, India and the United Kingdom are looking into relaxing immigration rules. The India-UK Migration and Mobility Partnership were formalized last year.
According to the idea, around 3,000 young students and professionals will be able to enjoy new work experience advantages in either country each year. It is scheduled to go into effect in April 2022.
According to a survey by residence and citizenship planning firm Henley & Partners, ultra-high net worth people from India, the United States, and the United Kingdom would account for the majority of investment migration queries in 2021.
As per the data, Indian citizens accounted for the vast majority of investment migration inquiries last year, with queries within this group increasing by 54% year on year. The survey indicated that US citizens came in second, with a 26% increase in such inquiries during the same time period. Inquiries from Britons and South Africans increased by 110% and 38%, respectively, in 2021, according to Henley & Partners.
Investment migration refers to affluent investors getting alternate residence or citizenship in exchange for a significant contribution to the host country. According to Investment Migration Insider data from 2019, the global residence and citizenship-by-investment market are worth $21.4 billion per year.
According to the publication, the business might produce $100 billion in revenue by 2025. According to the International Monetary Fund, the cost of obtaining a second citizenship or permanent residence ranges from $100,000 to $2.5 million. Such programmes stretch back to the 1980s when wealthy foreigners began to flock to tax havens in the Pacific and Caribbean.
Canada and the United States were among the early adopters. Austria, Bulgaria, Cyprus, Egypt, Malta, Portugal, South Korea, Thailand, the UAE, the UK, Vanuatu, and, most recently, Bahrain have all implemented programmes.
While Covid-19 and climate change have driven wealth and investment movement in the last two years, the war in Europe has emerged as a new cause, according to the Henley & Partners research.
Meanwhile, according to Henley & Partners and global wealth intelligence firm New World Wealth, the United States, China, and Japan are among the top three countries in terms of privately held wealth. The United States controls 32% of total global wealth and 36% of the world’s millionaires.
According to the research, the total private wealth in the country is approximately $68.8 trillion. As per the survey, India, Germany, the United Kingdom, Australia, Canada, France, and Italy are the countries with the largest private wealth.
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