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Come 6th November, 2014, investors will have to shell a million pound more for Tier 1 Investor Visa[/caption]
UK Home Office has recently announced changes to Tier 1 (Investor) visa, which will come into effect from 6th November, 2014. The minimum investment threshold for applicants will be raised to £2M compared to the current requirement of £1M. However, this change doesn't apply to the existing Tier 1 (Investor) visa holders.
Quick Brief Of The Proposed Changes
- Increase of investment threshold from £1M to £2M
- Rule in which investors are penalized for the fall in stock market be removed
- Investment split of 75:25 be removed
- Provision that allows investment be brought in as a loan also be removed
UK aims to attract investors from all over, and therefore, the Immigration Minister, James Brokenshire, said that the government is considering all investment routes that bring in real economic benefit to the UK.
Tier 1 (Investor) visa was introduced almost 2 decades ago with a minimum investment amount of £1M. It is for the high-net worth individuals and provides them a stay of 3 years and 4 months with an option to extend it further.
Source: Mondaq
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