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Visas offering foreign investors fast-track residency in the UK are being scrapped with immediate effect, the home secretary has confirmed.
Priti Patel said ending Tier 1 investor visas, for those spending, at least £2m, was the start of a “renewed crackdown on illicit finance and fraud”.
The scheme was introduced in 2008 to encourage wealthy people from outside the EU to invest in the UK. It has been under review for some time, after concerns it is open to abuse.
The Tier 1 (investor) visa, often called a “golden visa”, offers residency to those investing £2m or more in the UK, and allows their families to join them.
Holders of these visas can then apply for permanent residency in the UK, at a speed depending on how much they invest.
A £2m investment allows an application within five years, shortened to three years with £5m or two years if £10m is invested.
But the route to residency is now being closed with immediate effect, with the government saying it “failed to deliver for the UK people and gave opportunities for corrupt elites to access the UK”.
The UK has announced they are canceling their Tier 1 Investor Visa immediately citing “security concerns”. Since 2008 thousands of Russians, as well as people from India and elsewhere, have used the program investing £2 million into British companies to qualify for the so-called Golden visa.
This is nonsense. It clearly has nothing to do with security concerns or they’d simply tighten background checks. After all, what does being an investor have to do with security vs any other path? It’s clearly a bias against people with wealth being able to use their wealth to gain an advantage. Of course, this is very short-sighted, why wouldn’t you want wealthy people in your country?
So what should you be doing? What visas can you get today?
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Author: Michael Rosmer
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You should make a video on citizenship by decent and the use of a DNA test. A lot of Americans can't get it since our families can over, over 100 years ago but, using an ancestry/ dna test to prove your german, english, irish, ect could be a cool video if those nations would allow it.
I watched your video on where to bank and had a question. What do you do for local banking? Let's say I set up my banking in Singapore or Switzerland what do you do for your day to day banking in other/smaller countries, and how much do you uselly hold?
And here I am trying to get out.
What will happen with Portuguese golden visa? Especially if you are Russian? I fear by the time I have money there will be no place to go as independent
$#it of a country ..today, why would anybody go to UK….it is filled with corrupt south Asians
Is creative writing as a business a good way to get business visa to UK? Let's say if someone is a published and accomplished author, would that person have a good chance of getting business visa in Uk? Or if someone wants to start a clothes shop in Uk, would retail business/apparels help in establishing oneself in the Uk or even Ireland?
2 million pounds is way overpriced. For less than half the price Ireland will give a golden visa which can lead to citizenship, with a far better passport through the IIP. Ireland is also part of the EU and Irish citizens have the right to abode in the UK. Ireland tends to also have better taxes.
I noticed direct flights from Sofia to Dubai with Wizz – no wonder you're often visiting there!! Also, just when we set up in Portugal – I find out direct flights from Luton (UK) to Plovdiv??? Hoping as more places fully open – more flights from Lisbon and Porto.
I for one support this development. Under the old system it was far too easy for corrupt politicians from Commonwealth countries to park their plundered funds in the UK
So why don't they just exclude Russians rather than impact everyone else
It was attracting dubious types; partly true
4 years ago , they had an investor visa cost 200K pounds and you creat 5 local jobs ( not sure about the number of jobs). Is it still available ?
Buy yourself a £20 dingy, sail across the channel, they’ll pick you up
Half way and hail you a hero, you’ll then be rewarded with a free hotel,food and money for a few beers , result 🙄🤡