Tier 1 Investor Visas
Tier 1 Update: Home Office Releases Q2 Managed Migration Data
27 August 2020
27 August 2020
Home Office statistics released on Thursday 27th August 2020 reveal a total of 23 main applicants applied for a Tier 1 Investor Visa in the second quarter of this year, compared to a total of 48 applicants in the first three months of 2020. It’s no surprise to any of us the far-reaching impact COVID-19 has had on the general running of businesses and everyday life, and the figures released today highlight the effect this has had on foreign nationals looking to move to the UK through a Tier 1 Investor Visa.
The past few years has seen the number of foreign citizens seeking to obtain settlement in the UK drop considerably from the levels seen in 2014; The fourth quarter of 2014 saw a total of 510 main applicants for the Tier 1 Investor Visa being issued, or put another way, over ten times the levels seen in recent years.
One can’t ignore the fact that the UK was subject to Brexit taking centre stage of the media and politics from June 2016 onward, and it’s also worth mentioning that Home Office rule changes in 2014 and 2019 respectively meant the required funds to be invested in the UK increased from £1M to £2M, and Gilts were now longer allowed as a qualifying investment.
The true impact that COVID-19 has played on the UK Tier 1 Investor Visa route is likely to be demonstrated in Q3 figures (set for release on 26th Nov 2020), so the question remains whether Corona virus has deterred foreign nationals from seeking permanent residence in the United Kingdom, or does this route to obtaining ILR in the UK remain as important as ever?
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The information contained in this article is the opinion of Henderson Rowe and does not represent investment advice. The value of investment may go up and down and investors may not get back what they invested. Past performance is not an indicator of future performance.
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