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City News Ludhiana 9/28/2021 03:40:00 PM
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Ludhiana, September 28, 2021 (News Team): There has never been a better time for business owners in Punjab to expand into the U.K., according to award-winning immigration company London-based A Y & J Solicitors. Increased economic activity, manpower shortages, relaxations in pandemic travel restrictions and new immigration rules have created a ‘perfect storm’ for investors and entrepreneurs wishing to set up in the booming UK SME sector.

The acute demand for investment in the UK is forecast to be long-term and has been created by a post-lockdown rise in economic activity combined with a new immigration regime that makes it easier for non-Europeans to live and work in Great Britain.

The British government is inviting businesses from overseas to expand into the UK and is particularly keen to develop closer trade and business links with Indian firms. According to London-based A Y & J Solicitors, nearly half of migrants from India come from the Punjab region already and stronger links with the UK are expected to increase this figure.

New immigration rules introduced by the UK Government this year have made obtaining work visas easier for representatives of businesses which want to open offices in the country. The number of visas for workers who fit the qualifying criteria is now unlimited.

The UK government Home Office’s most recent Immigration Statistics published on 27 May 2021 show that 122,512 work-related visas were granted in the year ending March 2021 which was 37% fewer than the previous year. This figure includes visas for representatives of overseas businesses. The drop in numbers of visas allocated was a result of travel restrictions in place during the pandemic. Now restrictions have started to lift, numbers are already rising.

Yash Dubal, Director of A Y & J Solicitors, said: “Several factors have combined to create a perfect storm for businesses from the Punjab region wishing to expand into the UK. The UK is keen to attract new businesses and innovators, particularly in technology. The UK government is also keen to attract investors and entrepreneurs wishing to expand their businesses into the UK market. There are numerous visa options available for skilled workers, business owners and investors.”

One option is the UK Sole Representative visa which allows non-UK SMEs to enter the UK market by sending a senior employee 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 based in India 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.

Investment in UK SMEs was £8.8bn last year, an increase of 9 per cent. The trend continued into the first three months of 2021 when a further £4.5bn was raised.
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