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U.K.: Wealthy immigrants wanted

Christopher Werth Feb 7, 2011
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U.K.: Wealthy immigrants wanted

Christopher Werth Feb 7, 2011
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STEVE CHIOTAKIS: Over in Britain, forget about any resentment for people with gobs of money in the financial downturn. To get more investors in the country, the U.K. could make it easier for the super wealthy to get a British passport.

From London, reporter Christopher Werth has more.


CHRISTOPHER WERTH: Since he became Prime Minister last year, David Cameron and his government have drafted tough new immigration rules. Cameron’s government is introducing a cap on the number of people from outside the European Union who can settle in the U.K. But those rules won’t apply to the wealthy. Sarah Mulley of Britain’s Institute for Public Policy Research.

SARAH MULLEY: I think they will be fighting quite hard to counter the impression that migrants are not welcome. But I think, yes, their intention will be to try and attract wealthy Americans and others from outside the EU to invest in the U.K.

Under the proposal, investors bringing in over $16 million will be directed into the immigration fast lane, and could become permanent residents of the U.K. within two years.

“Give me your poor, your tired, your huddled masses?” Just give me your rich.

In London, I’m Christopher Werth for Marketplace.

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