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After the US, UK is also opening permanent residency facility to wealthy foreign nationals ready to make big investment in the nation. The UK is contemplating to launch a new “invite-only” investor visa to wealthy foreign nationals that would allow them secure residency by investing at least £5 million in the country, according to a report in Bloomberg.
The programme is a more strictly controlled alternative to the UK’s previous investor visa route, scrapped in 2022.
The proposal states that foreign investors and entrepreneurs would get three years of UK residency if they invested in sectors identified by the government as priority areas, which include fast-growing British businesses. The investment could even open path to permanent residency after three years.
The proposal was circulated among wealth advisers to collect feedback of individuals ready to move across nations in the world, ready to invest and contribute to the UK economy through strategic investments.
Under the new programme, the documents and relevant credentials would be vetted more strictly.
The earlier Tier-1 investor visa allowed wealthy foreigners to secure UK residency making huge investments. However, the UK government scrapped the programme stating misuse and security risks due to wealth accumulated through illegal means.
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