UK Tier1 Investor visa process will be quicker
Published at: 20/03/2020 12:00 pm
As Brexit is rolling on, more and more business people need solutions to be able to stay in the United Kingdom. The immigration system is changing and the deadline until the end of free movement for Europeans is closing.
However, the English government also recognised that the United Kingdom will lose talents and business opportunities if they don't loosen the Tier1 Investor visa terms and fasten the process.
The Tier1 Investor's two million pounds limit is a lot for most of the investors. In the meantime, it became complex to qualify for the Innovator and Start-up visas, because of the endorsing body requirement (according to workpermit.com). The Global Talent visa is available only for a small number of high-qualified applicants. Tier 2 Intra-Company Transfer visa is a good solution but it does not guarantee the right to reside indefinitely in the United Kingdom. However, the Tier 2 General Visa accepts applicants, who earn above 159.600 GB per year, but they must have at least ten per cent ownership and this requirement is unattainable for many.
Meanwhile, Rishi Sunak, UK Chancellor of the Exchequer, told that funds from the latest Budget will be allocated to the DfT (Department for International Trade) to support foreign investors with their Tier 1 investor visa applications. The objective is to help the foreign investors to set up their business in the UK with preferential treatment. The objective to attract wealthy investors is outlined in the Budget, so the process of obtaining the Tier1 Investor visa will be quicker.
Since 2015 the number of applicants for the Tier 1 Investor visa from the BRIC countries (Brazil, Russia, India, and China) almost doubled. Last year 239 Tier 1 Investor visa applicants arrived from the BRIC countries and it looks like that the interest for the residence permits of the UK among foreign wealthy business people is once again rising. And there are only nine months left to end of the transition period and the European investors will have to apply for their residence permit in the UK through the Tier 1 system.
Discus Holdings' experts have more than 25 years of experience in immigration services. Click here to read all the detailed information about the United Kingdom's residency by investment solutions!