Business chiefs welcome easy visas for super-rich

Government plans to ease visa rules for the super-rich were hailed as a "win-win scenario" by London businesses today.

The Home Office is looking at a range of measures designed to attract multi-millionaire foreigners to boost Britain's economy.

They include speeding up the visa application process and a relaxation on residency rules, making it easier for foreign investors to settle in the UK.

The new regime could see London welcome a flood of overseas entrepreneurs with money to spend.

Colin Stanbridge, chief executive of the London Chamber of Commerce and Industry, said the move would bring a host of benefits.

"Easing visa restrictions for wealthy individuals and entrepreneurs is a win-win scenario for London as it will lead to increased investment, and help create much-needed jobs," he said.