The UK is considering introducing a new invite-only investor visa that would allow wealthy foreign nationals to secure residency in the country by investing a minimum of Β£5 million, according to a report by Bloomberg.
Under the proposed scheme, investors and entrepreneurs who commit funds to sectors identified by the government as priority areas, including fast-growing British businesses, would be granted three years of UK residency. The programme is also expected to offer a potential pathway to permanent residency upon completion of that three-year period.
Bloomberg has reported that government bodies recently circulated the proposal among wealth advisers in order to gather feedback and test appetite for the plan. The proposed route would reportedly be targeted at globally mobile individuals and entrepreneurs who are in a position to make strategic investments that contribute meaningfully to the UK economy.
In terms of eligibility and safeguarding, documents reviewed by Bloomberg indicate that the route would include enhanced vetting procedures and more rigorous background checks than previous schemes. The programme is being positioned as a more tightly regulated alternative to the UK’s earlier investor visa route, which was discontinued in 2022 amid concerns over misuse and the risks associated with illicit wealth entering the country through large financial investments.
The earlier route, known as the Tier 1 investor visa, had allowed high-net-worth individuals to obtain UK residency through substantial financial commitments. Its closure marked a significant shift in the government’s approach to wealth-based immigration, and the proposed new scheme appears to reflect an attempt to strike a balance between attracting global investment and maintaining stronger oversight of those seeking entry through this route.
News Source: The Economict imes
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