Tier 1 Investor Visas

Relocate to the United Kingdom with the Tier 1 Investor Visa

The Tier 1 Investor visa is largely aimed at high net worth individuals who want to relocate to the UK. This visa category applies to the main applicant and all immediate family members, including spouse and children under the age of 18. Initially,the investor visa is granted for three years and four months and can then be extended for another two years, by providing evidence that an investment of at least £ 2 million was made in the UK.

Tier 1 Investor Visas

On 17 February 2022, the Home Office announced it was shutting down the Tier 1 Investor Visa effective immediately. This visa – often referred to as the “UK Golden Visa” had been a popular way for foreign high-net-worth individuals to obtain a route for settlement while also putting some of their money to work in the UK, with the obvious hope such investments would spur positive economic activity.

Upon shutting the programme down, however, the Home Office issued a statement saying that the Visa had “failed to deliver for the UK people” and suggested it had become a vehicle “corrupt” foreigners employed to secure responsibility-free leave in the UK.

The government’s decision was no doubt based on a careful analysis of the situation, however, there were plenty of legitimate foreign investors and would-be investors who were taken aback by the announcement and its suddenness.

What to do Now That the Investor Visa is Has Been Discontinued

The Tier 1 Investor Visa had existed in one form or another for nearly 30 years. Many foreign investors had used it for perfectly legitimate reasons that resulted in mutual benefits both for them and the citizens of the UK. With the visa’s sudden demise many are now frantically looking around for alternatives. But are there any?

While new applications for Investor Visas are no longer being accepted, people who currently hold Investment Visas can still apply to extend them or to transition to the settlement route. As for alternative visas that might serve a similar purpose? That’s another question.

Tangible Economic Benefits

The government may have tipped its hand just a bit during the announcement of the shutting of the Tier 1 Investor Visa programme when they indicated that investors who wished to settle in the UK would now have to provide proof that their investment would produce “genuine job creation and other tangible economic benefits” and that simply holding investments in the UK would no longer be enough.

At the same time, the Home Office announced changes would be forthcoming regarding the Innovator Visa. These changes would, in theory, would support the government’s goal of making better choices regarding which migrant investors it allowed to relocate to the UK. And indeed, shortly thereafter the Innovator Visa and Start-Up Visa programmes were merged into the entirely new Innovator Founder Visa.

Those interested in securing finance-related leave in the UK going forward may want to consider investigating the opportunities provided by the Innovator Founder Visa route.