Citizenship by investment is a well known program that allows foreign investors to make certain investments as a route to citizenship. The United Kingdom not only provides a prime living condition but also has world class universities which makes it an attractive option for the investors. The government of the United Kingdom has their own version of citizenship by investment or a Golden Visa. Currently the UK does not offer a direct citizenship However, there are several routes that are convenient for the investors.
In February2022, the fast track golden visa (investors route) was closed for the new applicants. However, These holders of investment visas have two options: they can apply to renew their present visas or, if they satisfy the eligibility requirements for both indefinite leave and remain and meet the appropriate residency requirement, they can apply for indefinite leave. If they satisfy the requirements for naturalization, they can apply for British citizenship after having held ILR status for a full year. The primary route for foreign investors to obtain citizenship in the United Kingdom is through Tier 1 investor Visa extension.
Tier 1 Investor Visa Extension
Under the current rules of Tier 1 Investor Visa Extension, If you have an existing Investors Visa you can apply to extend your visa to up to 2 years if you meet the criteria. For that, It is necessary that you have at least 2 million funds under your control for a year, £10 million for which you might be eligible for settlement after two years and British citizenship afterward; or £5 million, for which you might be eligible for Indefinite Leave to Remain settlement after three years.
Investor Visa UK
For the majority of the visa categories for citizenship, the United Kingdom operates based on points which gives a merit based selection for the investment options. For Investor Visa UK, the requirement is 75 points which includes meeting the eligibility criteria of
- An investment of £2,000,000 or more into the British economy.
- Under regular financial citations the money must be held in the account.
- The money must be held in a bank in Uk or easily be transferred to the UK anytime
Benefits of Investor Visa UK
With a Tier 1 Investor visa, you can live in the UK permanently or temporarily and bring your spouse and small children with you. It provides access to excellent living conditions, a business-friendly legal system, welfare, and safety. However, there are no restrictions on what you or your family members can do while in the UK. You are free to work, study, establish a business, or do nothing at all.
Alternative to Investor Visa UK
The UK government ceased accepting new applications for the “golden visa” on February 17, 2022, regardless of nationality or immigration history, thus if you are not already in the country on an investor visa, you cannot apply for fast settlement. The different Home Secretaries in office since February 2022 have been eager to emphasize that the UK wants to draw the best and brightest to its shores and encourage businesses to visit and invest in the UK, even in light of the investor route’s closing. These routes include:
- Innovator Visa
- Global Talent Visa
- The Scale Up Visa
- The Skilled Up Visa
Among these, the innovator visa is the only path that requires investment cash; candidates must have a minimum of £50,000 to invest in their prospective business. The investment visa is meant for seasoned business owners who can grow their companies rapidly. For entrepreneurs who are less experienced, there is a Start-up Visa which is intended for those who do not have any established financial record. If the start up visa is approved you will be allowed to live in the United Kingdom for up to 2 years However, this does not lead to citizenship or grants any extensions either.
Does buying a house in the UK give you residency?
Buying a house in the United Kingdom as a non-resident is not a route to citizenship by investment in the United Kingdom. This means that you will not receive any immigration visa based on buying a property in the UK. Even if you might own a home in the UK, this does not provide you the right to live there permanently. Your immigration status won’t actually change.
Conclusion
For high net individuals, the United Kingdom provinces substantial investment options to secure residency with possible citizenship in the future. However, it is necessary to understand the types of investment options and long term requirements before embarking on the new journey. Planning ahead and receiving the right advice can help you become a citizen by investing, which can lead to new opportunities and increase your global impact.
FAQS
- How can a person apply for a UK Investor Visa?
For an investor Visa, you will have to make a qualifying investment for an indefinite time period. Either make an investment of £5000,000 to settle in 3 years or £10,000,000 to settle in 2 years.
- Does buying a house in the United Kingdom give you a residency?
As the basis of application for investors, buying a house or a real estate investment does not give you residency in the United Kingdom.
- Do family members qualify for an investor’s visa?
The entire family is eligible for investor visa in the United Kingdom and enjoy residency and citizenship as the applicant.
