The UK closes the golden visa pathway, here are three options for investors
OCTOBER 15, 2022 09:17:18 AM
The UK's Tier 1 investment visa, also known as the "golden visa," was the latest to be affected by the conflict between Russia and Ukraine last week when home secretary Priti Patel announced its immediate cancellation.
The UK Investment Visa is a Tier 1 visa granted to wealthy people willing to invest a minimum of £2 million in the UK. It is a part of the UK Points-Based System. The sooner a person may apply for settlement and subsequently British citizenship, the more money they have invested.
These are currently the best options for high-net-worth people seeking to settle in the UK:
1. UK Global talent visa: This program, open to experts in the arts, culture, and digital technology, requires endorsement by a recognized organization. It is given out for five-year intervals, and each time it expires, it can be renewed.
- Arts Council England [for Arts and Culture]
- Royal Academy of Engineering
- Royal Society
- K. Research and Innovation [UKRI]
- Tech Nation [for DigiTech]
- British Academy
2. UK Scale-Up visa: The new Scale-Up visa system seeks to promote innovation by simplifying the procedure for "Scale-Up" enterprises to bring in "very highly skilled and experienced" and "academically elite" individuals to the UK. Scale Up enterprises are ones that are judged to be rapidly expanding and meet the criteria listed below:
- A three-year period with annual average revenue or employment growth rate of more than 20%
- 10 employees or more at the beginning of the three-year period
3. UK Innovator visa: The innovator visa is often reserved for seasoned businessmen who want to launch a company in the UK. You are permitted to remain in the UK for a maximum of five years with your family. After spending five years in the UK, you can apply for permanent settlement (Indefinite Leave to Remain).
To Know more about the Application Process and your Eligibility