Joining the 'Great Club'

The recent announcement from the Home Office that foreign business executives with strong links to the UK will get help, including their own account manager, to expedite their visa applications is a further sign that the UK is rolling out the red carpet to Chinese investors, and is to be welcomed. From next year a 12 month pilot of approximately 100 high-value executives will be invited to join the new “Great Club” to ensure the immigration checks are completed “swiftly and smoothly”. This will be of great interest to the many ultra-high net worth Chinese investors who have raised legitimate concerns about the swathes of red tape that have impeded their entry to, and investment in, the UK. The Home Office pilot, along with the recent announcements by the Chancellor of the Exchequer that intend to simplify visa applications for Chinese visitors, demonstrates that the Government is listening to some of those legitimate concerns.

Short-sighted

However, my view is that by restricting the “Great Club” to such a minuscule membership base the Home Office is not only being short-sighted (and barely scratching the surface of the demand in China) but it is also sends the wrong message. The membership base of the “Great Club” needs to be expanded before the pilot is launched.
We know from our own experience that the uptake will far exceed 100 applicants. At DKLM we receive a multitude of enquiries from wealthy Chinese investors and entrepreneurs who are keen to invest in the UK; either directly or via Zhonglun W & D Law Firm, or PC Woo & Co, DKLM’s associated law firms in China and Hong Kong.

Criteria for membership

We look forward to seeing the criteria for membership for the “Great Club” in due course. We are particularly keen to see how the pilot will be applied to high value executives of Chinese Tech companies that want to expand to the UK, and to seek clarification as to how the Home Office will assist those high value executives who want to carry out intra-company transfers of staff to UK subsidiaries.

The Home Office must take appropriate action to ensure that some of the new account managers have access to the necessary linguistic skills to help Chinese investors, or refer those investors to bilingual solicitors or immigration specialists who can provide specialist assistance. Details of the new pilot must also be widely publicised in China, and translated into Mandarin and Cantonese, to ensure that the UK can attract entrepreneurs and wealthy investors from China who may otherwise be welcomed with open arms by our European neighbours.

Fei Yang is an Immigration Solicitor at  DKLM LLP (London). Contact: [email protected]
www.dklm.co.uk