The British are at it again with an unbelievable immigration law that will surely attract comments world over. This time, the British Conservative party pro-rich bias appears intact if its latest immigration policy is any indication.
Under a fast track scheme,any foreigner willing to park 5 million pounds in a British bank or building society will be granted leave of indefinite stay in the UK. An investor who keeps 10 million will secure this right even faster in two years. The residency right will come after an entrepreneur visa is granted.
The UK remains open for business and we want those who have the most to offer to come and settle here, said Whitehalls immigration minister Damian Green while announcing the policy at a London Stock Exchange event on Wednesday. Entrepreneurs and investors can play a major part in our economic recovery, he said.
Rules for entrepreneurs are also to be tweaked if they either create 10 full-time jobs or generate an annual turnover of 10 million in a UK business, they will be entitled to settlement within three years.
Alex Ruffel, a lawyer who specialises in immigration matters, was quoted as forecasting that the number of super-rich entrepreneurs and investors pitching their tents in the UK per annum would double from last years figure of 275.
A person maintaining a balance of 1 million in a British bank would also benefit by being guaranteed indefinite stay after five years without having to pass an otherwise mandatory English language test.
The policy towards the wealthy contrasts sharply with the British governments plan to do away with the automatic right to settle hitherto enjoyed by students and temporary residents after a five year stay in this country.
Indeed, definitive proposals to impose deep cuts in the number of overseas students coming to Britain so as to adhere to the Conservative partys election manifesto promise of containing net migration to below 100,000 a year are expected to be announced soon.
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