Search

Fewer UK visas granted for overseas businesses since Brexit vote, research reveals

A Union Jack flag in Cromer Beach.

Picture: MARK BULLIMORE

A Union Jack flag in Cromer Beach. Picture: MARK BULLIMORE

Archant Norfolk 2016

Brexit could be affecting the desirability of the UK as a business destination, a law firm has suggested.

Research by Collyer Bristow showed the number of visas granted for overseas businesses to open a branch in the country fell by 11% last year.

There were 125 visas given to representatives of overseas firms, down from 140 the previous year.

James Badcock of Collyer Bristow, said: “The drop in overseas business visas granted could mean the UK misses out on large amounts of investment and tax revenue.

“More visas have been applied for year on year, but far fewer have been granted since the Brexit vote. The figures suggest the Home Office has clamped down on overseas business visas since the vote.

“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.

“However, the government seems to be reluctant to promote the use of overseas business visas.”

Search hundreds of local jobs at Jobs24

Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Insight

Christmas party season is fast approaching – but do you know how to handle the occasion without making a show of yourself?

Norfolk and Suffolk’s retailers are preparing for the Black Friday and festive rush amid challenging times for the high street. Doug Faulkner finds out how they are feeling ahead of this key season.

Green 100

cover

Enjoy the Green 100
digital edition

Read

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100