Published on : Monday, October 30, 2017
Law firm Collyer Bristow said that 125 visas were granted in the year ending March 2017, down 11 per cent from the 140 that were handed out in the previous year. According to teh firm, this drop is possibly for the stricter rules in reviews by the Home Office.
The Prime Minister’s office said on Thursday that data suggesting Britain’s population will pass the 70 million mark by 2029 proves the need to bring net migration down to the tens of thousands.
The individuals who want to represent a company can get the “representative of an overseas business” visa which is considered valid for three years. Many businesses such as tech used these visas. Now with the rejection of too many such visas could put the Government “at risk of missing out” on large amounts of tax revenue.
Despite the drop in successful applications, the total number of applications for overseas business visas rose 33 per cent in the same period.
Australia and the US individuals were granted the most business visas, according to the data, with 20 each in the year ending March 2017.
James Badcock, a lawyer at Collyer Bristow said that overseas business visas can serve a valuable function in attracting often high-profit businesses from other countries to the UK, and can help to encourage trade, investment, innovation and competition.