The UK Government is reportedly considering re-introducing the investor visa after Home Office contractor Envestors put forward this idea, citing that it could help the growth of the UK economy. This visa would be open to people willing to invest in strategic sectors, such as AI, clean energy and life sciences. This is not an exhaustive list.
For those of us who remember the old Tier Investor Visa system which was abolished in February 2022 amid potential security concern, we would suggest the new proposal to reintroduce this visa is comparable to the Entrepreneur visa route in that the new investor visa route would combine investment as well as the need to demonstrate job creation for example.
The new case
The calls for the visa to be reintroduced also come with improvements to the old scheme to prevent potential abuse of the system. It has also been suggested that a new scheme would be a better-regulated investment tool to benefit the UK economy. The proposed changes include:
● Much stricter due diligence and anti-money laundering checks to ensure that the applicant’s wealth has come from legitimate sources.
● Focus on certain industries to maximise the economic impact of investment.
Economic reasons for the investor visa
A report by the British Business Bank shows that angel investors contribute significantly to the UK by creating jobs and boosting the GDP, and angel investors were the largest source of investment in start-ups and early-stage businesses. The evidence shows that investment is extremely valuable to the UK economy and has great potential to boost economic expansion.
The reintroduction would provide for a fast-track route to residency, a gesture of goodwill following the Government’s proposed stance to double the qualifying period for ILR from 5 years to 10 years.
Redfern Legal operates a proactive approach to potential new immigration routes and welcome the opportunity to discuss this and other visa options.
For more information contact:
Laura Butcher, Senior Immigration Specialist +44 (0)7851630770 / lbutcher@redfernlegal.com
