Update: The UK’s Tier 1 Investor visa, known as the ‘Golden visa’ is permanently closed down.
On February 17, 2022, Home Secretary, Ms. Priti Patel announced the closure of this visa with immediate effect. The visa became the latest casualty of the Russia-Ukraine war tension.
The UK Investor visa was part of the UK Point-based system for wealthy individuals who are willing to invest at least £ 2million in the UK.
The higher the investment amount, the faster the applicant can apply for a settlement in the UK. The UK investor visa eventually led to British citizenship.
However, the UK Investor visa was not a direct route to citizenship by investment. This means that the applicant had to actually live in the UK before applying for UK citizenship.
To qualify for a UK Tier 1 Investor visa, the applicant had to invest money in a UK registered company, pass a due diligence check and open an investment account.
Benefits of a UK Investor visa
A partner, as well as children (under 18 years), could be included in the applicant’s UK Investor visa application.
No requirement to demonstrate work experience or provide proof of education or take an English language test.
The applicant and the family members could work, do business, and study in the UK.
This visa gave the applicants access to a superior quality of healthcare, education, and security.
It was profitable to invest in shares of the UK companies. After visa expiration, or after receiving an ILR, the applicant could also sell the shares and get the invested money back.
UK Investor visa was valid for 3 years and 4 months if applied from outside the UK and 3 years if applied from within the country. It could be extended for another 2 years or the applicant could apply for settlement in the UK straight away, depending upon the invested amount.