Introduction
The UK government is signalling a potential return of the Investor Visa UK, previously known as the Tier 1 Investor Visa. This visa allowed individuals to gain residency in the UK through a minimum investment of £2 million (previously in government bonds and later in share capital). In return, applicants could secure indefinite leave to remain (settlement) and eventually British citizenship.
However, this route faced criticism over the years for its lax due diligence, inadequate scrutiny regarding the source of funds and minimal long-term benefits for the broader economy, ultimately leading to its closure in 2022.
The new Investor Visa UK?
The newly proposed scheme seems to emphasise investments in strategic sectors such as artificial intelligence, life sciences, and clean energy. This shift indicates a preference for investments that align more closely with the UK’s economic goals.
Key features of the revised Investor Visa UK may include: –
Stricter Due Diligence
- Learning from past issues, a more thorough vetting process is expected, ensuring careful examination of fund sources and investor backgrounds.
Higher Investment Thresholds
- The minimum investment could increase significantly, potentially starting at £5 million or more, with incentives for those making greater contributions to the economy.
Active Involvement Required
- Instead of purely passive investments, applicants may be encouraged or mandated to engage actively in business operations, innovation collaborations, or job creation.
Focus on Strategic Sectors
- Investors might need to channel funds into specific areas like artificial intelligence, life sciences, green technology, advanced manufacturing, and infrastructure
Performance-Based Extensions
- Continued residency or settlement may hinge on the investor showing how he/she has contributed to the UK economy, such as through the creation of jobs and continued investment in appropriate industries. Â
Invester Visa UK: Conclusion
Attracting international investment is crucial for fostering economic growth, innovation, and job creation. A more focused and secure Investor Visa UK presents an encouraging opportunity to achieve those goals. In today’s dynamic and fast-changing global economy, the UK government must actively pursue credible, ethical investments as a key driver of growth. A thoughtfully designed UK Investor Visa could send a strong message to the international community that Britain is still open for business with investors.
This article is authored by Charles Green, Solicitor in our Immigration department. Reach him at +44 207 242 1666.