When two become one: should the legal and financial sectors merge?
Regarding the functioning of any economy, both the legal and financial sectors are global institutions that are to be reconciled with – so why are both sectors consistently determined as being isolated entities from each other?
Within the visa application process, a key factor when determining the success of the application is the current financial status of the citizen wishing to migrate and the amount of funds that the individual can invest, should they be granted permission to participate in the economy that they are applying to.
Therefore, this can already demonstrate that there is a clear overlap between the legal sector and financial sector, specifically regarding immigration and the visa application process.
From this, immigration law firms like Hudson McKenzie already play a key role in assisting the individual in achieving a successful outcome for their visa application – however could the visa application process be further improved if law firms were to partner with the corporate finance sector to a greater degree?
For instance, an example of this overlap between the legal and financial sector can already be demonstrated between the United Nations and the World Bank, in which both seek to protect Human Rights Law whether through a legal governance structure or a financial institution.
Therefore – could it be plausible to suggest that the future of the visa application process is in the form of a merging between the legal and financial sector, in which instead of applying to an individual nation, the individual has their status automatically screened through a system within the ‘World Bank’, in which allows them to migrate with ease of access, depending upon their individual status?
Being so, a ‘World Bank’ in this manner could give rise to the advent of a ‘global citizen’, whose Human Rights are protected both legally and financially through a global immigration process, by the merging of both the legal and financial sectors in this way.
If you would like to discuss this article further or have any immigration queries, please contact one of our qualified lawyers on 020 3318 5799 or by email on Londoninfo@hudsonmckenzie.com
Author: Portia Vincent-Kirby