The UK’s Tier 1 Investor Visa program, which granted individuals permanent residency in the UK if they invested £2m in the UK economy, was shut down by the Home Office in 2014. When this happened, many people asked what other alternative investment options there were to secure them UK residency by investment. This article explores how to apply under these two visa categories and also looks at what you can expect as an investor if you choose this route to become a British resident. If you want more information on becoming a British citizen through investments, don’t hesitate to contact us today.
On April 6, 2019, the UK Government announced that it will be shutting down the Tier 1 (Investor) visa program effective April 5, 2021. This announcement is part of the UK’s new immigration rules which will also shut down Tier 1 (Entrepreneur) and Tier 1 (Graduate Entrepreneur) on April 5, 2020 and July 31, 2019 respectively. Once these visas are shut down, UK residence can still be acquired by investors by means of the Tier 1 (Exceptional Talent) or the Tier 2 routes.
The UK has shut its golden visa route after a surge in applications prompted fears it was being misused. Under rules introduced in 2014, non-EU nationals can apply for Tier 1 investor visas if they invest £2m or more in property, assets or government bonds. But late last year, Theresa May’s government said it would shut down these routes from April 6th 2018. If you’re looking for alternative UK visas, here are three options to consider.
Here are the best options for high net worth people looking to make it big in the UK
Recently, changes were made to UK immigration requirements for applicants who hold higher-value investors’ visas. This new policy includes tougher scrutiny of applicants and their business plans as well as increased application fees. The economic downturn in UK has seen a sharp decline in investment opportunities and has called into question whether or not it is still worth applying for UK golden visa at all. However, applicants can still apply for other visa types with similar benefits while they wait to see if current restrictions will be relaxed.
This Visa grants an immigrant the rights to take up employment, live permanently and access social security in the UK after investing at least £2 Million GBP into a specific list of business opportunities. You will receive priority consideration if you invest at least £10 Million GBP; meaning it would only take around five years before you are granted permanent residency status with all accompanying benefits (such as being able to buy property without restriction).
The Global Talent visa is a new non-contributory UK visa route for those who can make a significant economic contribution to Britain. The UK is one of few countries in Europe that has such an option, which typically must be facilitated through making either a £2 million investment into an eligible venture capital firm or entrepreneur’s business or an angel investment of at least £100,000.
The UK has a number of options available for foreign investors looking to set up shop in Britain. While most businesses require at least £50,000 ($67,000) in investment capital and there is a £2 million ($2.7 million) minimum investment threshold, there is also an Innovator visa which requires just £200,000 ($260,000). The benefit of starting your business in Britain versus other countries is that it comes with fast-track residence visas for employees and their families.
The UK Investment Visa is a Tier 1 visa, part of the UK Points Based System, offered to wealthy individuals willing to invest a minimum of £2 million in the UK. The higher the amount of money invested, the quicker the individual can apply for settlement and eventually British citizenship.
Wealthy people looking for investment opportunities know about this option that offers them quick access to settlements after investing at least two million pounds into government projects and programs.