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by BBCWatcher » Fri, 10 Jun 2016 3:14 pm
The Letter of Consent was only introduced fairly recently for LTVP holders, so EP to LTVP is not a well worn path yet. But it's a good one for many people to take.
The major advantage is that the LTVP provides greater immigration stability. If you lose (or leave) your job, you don't have to find another job immediately or apply for another pass. Another advantage, once you graduate to a LTVP+, is a discount on medical fees at public hospitals and clinics. The disadvantage, at least if you're a highly paid EP holder, is that you (and your employer) cannot sponsor others for passes if you have a LTVP. For example, if you have a LTVP you (and your employer) cannot sponsor a parent for a LTVP.