Confidence in UK Economy on the Rise
uk program |
EU Golden Visas |
Brexit and Immigration |
Immigration to UK |
UK Economy |
October 8, 2016
Although the initial backlash of the Brexit outcome may have slowed investor immigration to the UK at first, there’s no doubt that interest in settlement remains high now that the dust has settled. And it should. Britain is still one of the world’s powerhouses and is not stepping down. The World Trade Organization even stated that following the Brexit vote, Britain would not go into recession. Many credible sources are also shifting their opinions on the future position of the UK’s economy, from one of uncertainty to one of confidence.
UK’s Tier 1 investor visawas established as a means to bring foreign investment to the nation’s economy. With the freedom of movement throughout the EU offered by other European “Golden Visa” programs, such as those of Portugal and Malta, many investors were using these programs as a means of entry into the UK. The Golden Visa programs were often much less complex and had lower investment requirements than UK’s Tier 1 investor program, and people are always in search of easier and cheaper options. Since applying through any of the European programs could get an investor settled in the UK, there was no need to go through the Tier 1 investor visa program. Post Brexit, however, this strategy may no longer be available. If the UK’s free movement among EU member states is restricted once the separation is finalized, the Tier 1 investor program will likely be the only option for investors who want to settle in the UK.
Tier 1 Investor Visa
For high net worth individuals who are looking to settle in the UK, the Tier 1 investor visa is an attractive option. The program was developed to attract foreign investment from outside of Europe to help strengthen the economy.
In order to be eligible to apply, the following requirements must be met:
- You must be 18 years old or over;
- You must have at least £2,000,000 investment funds that belongs to either you or your spouse;
- You must have opened a bank account in the UK;
- Your funds must be held in one or more regulated financial institutions in the UK;
- Your funds must be free to spend (disposable) in the UK;
- The investment must be made in UK government bonds, share capital or loan capital in active and trading UK registered companies.
Some advantages of this program over others include not being required to demonstrate English language proficiency, and not being required to work in the UK (although permitted with the investor visa).
The current program allows for faster receipt of British Citizenship for Tier 1 investors who invest more into the economy. Investors can apply for permanent settlement after:
- 5 years with a £2 million investment;
- 3 years with a £5 million investment;
- 2 years with a £10 million investment
In order to maintain high appeal of UK settlement among foreign investors, the previous benefits of membership to the European Union should be replaced by other benefits. The UK benefits greatly from investors’ funds, business experience, as well as social contribution, so it will have to ensure that its Tier 1 investor program remains appealing to high net worth individuals around the world. The UK boasts world-class education and healthcare systems and offers a very high standard of living, making it a prime destination for many families.
Although the initial reaction to the vote to leave was resistance and confusion, the confidence in UK’s financial future is growing. Along with the continued appeal of UK settlement among the wealthy, Britain remains a top contender on a global scale. Investors who want to settle and invest in this soon-to-be independent economy should contact us today. Our team will help you and your family on your immigration path to one of the world’s most desired nations.
For more information on UK’s Tier 1 investor visa, click here
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Permanent Residency through Investment in the United Kingdom