The UK investment visa allows high net worth individuals to obtain residency or citizenship in the UK by making a substantial financial investment. With its strong economy, world-class education, and high quality of life, the UK remains an attractive destination for immigrant investors. This article provides a comprehensive overview of the main UK investment visa routes in 2023, their requirements, and pathways to permanent residency.
Tier 1 Investor Visa Has Been Suspended
The Tier 1 Investor Visa was previously the main investment visa route, requiring a £2 million investment in UK government bonds or share capital of UK companies. However, this route was suspended indefinitely in February 2022 due to concerns over illicit funds entering the UK. New applications are no longer being accepted under this category.
Innovator Visa For Aspiring Entrepreneurs
The Innovator Visa provides a route for aspiring entrepreneurs wishing to start a business in the UK. Applicants must secure endorsement from an approved body for an innovative, viable and scalable business idea. The required investment is much lower at £50,000. Innovators can apply for settlement after 3 years if meeting business growth and funding requirements.
Global Talent Visa For Exceptional Individuals
The Global Talent Visa is aimed at attracting exceptionally talented individuals in science, engineering, humanities, digital technology and arts/culture. Applicants must demonstrate exceptional promise or established excellence in their field. There are no minimum investment requirements. Global Talents can obtain permanent residence after 3-5 years.
Reformed Investor Route Expected Later In 2023
The UK government has announced plans to launch a reformed investor route later in 2023, with updated requirements aimed at increasing economic benefit. This new route is expected to have higher investment thresholds and more rigorous eligibility checks compared to the old Tier 1 Investor Visa. The announcement has renewed hopes for high net worth individuals seeking an investment migration pathway to the UK.
While the suspension of the Tier 1 Investor Visa has reduced options, new investor routes are emerging focused on driving growth and innovation in the UK economy. For high net worth individuals, the UK remains an attractive destination in 2023 through alternative visa pathways such as the Innovator Visa or Global Talent Visa.