Is the UK still open for Investment?
The Office of National Statistics (ONS) recently released data for Tier 1 (Investor) Visa applications granted during the 3rd quarter of 2019. The data shows a fall in Tier 1 (Investor) visa granted by over 60%. This fell from 124 visa granted to 49.
So, what does this mean?
First of all, to all investors looking to invest in the UK, this is nothing to worry about. The fall in Tier 1 (Investor) visas being granted does not mean that the UK is closed for business.
The main reason for this is due to changes implemented in the Immigration Rules for Tier 1 (Investor) in March 2019.
Please refer to our article on the rule changes that happened in March via this link:
An investment expert commented that the new rule changes have ‘not yet filtered down to the overseas professional community. When the last major rule change took place in November 2014, we saw a sharp fall in applicants until the new rules were fully absorbed by the professional community and prospective migrants.’
Secondly, the key requirement under the changed rules is that the ‘qualifying investment’ must be in an ‘active and trading company registered in the UK’.
Therefore, where the companies move offshore, this means that the Tier 1 Investment no longer qualifies as it is not registered in the UK. For example, major UK utility companies are moving offshore to try and protect the shareholders from the nationalisation plans.
Experts indicate that although the above is not a direct factor in the decline in the Tier 1 Investor visas, it may affect future economic growth for the UK.
Ultimately, the UK still remains the centre of financial hub and there is plenty of opportunity for investments.
Barar & Associates is well aware of the changes and will be more than happy to assist any potential investors with their UK visa application.
Should you wish to discuss Tier 1 (Investor) Visa further, please do not hesitate to contact our professional team of immigration lawyers at firstname.lastname@example.org or call us at 020 7487 8370. You can access more information about us via https://bararassociates.com/.