What areas of immigration are in demand in 2020 - 2021 and why? UK: Visa Tier 1 Investor.
The first half of 2020 was not distinguished by a large number of Visa Tier 1 Investors (approximately 30% of visas from the 2019 level were issued, with 39% of them received by citizens of Hong Kong, 35% by citizens of China).
There are concerns that Brexit may affect the future of the visa. But at the moment there is no reason to believe that wealthy investors will give up the prospect of becoming the owner of permanent residence and British citizenship after Brexit. Moreover, contacts with potential clients show that interest in visas is high. Another thing is that strict requirements are imposed on applicants.
In particular, we recall that in order to obtain a visa, an investor must provide a bank confirmation of the presence of at least GBP 2 million in an account in the UK. In this case, it is required to prove that the investor owned the amount necessary to obtain a visa for two years before submitting an application.
An investment of at least 2 million GBP must be invested in a British business for a period of 5 years.
Initially, the visa is issued for 40 months, after which it is extended for another 2 years.
After 5 years, the investor receives permanent residence status, and after another year, he can apply for citizenship.
If the investment amount is increased to GBP 5 million, then the permanent residence status is acquired after 3 years; with an investment of GBP 10 million - in 2 years, and documents for citizenship can be submitted in 5 years.
It should be noted that only the main applicant can apply for permanent residence on an expedited basis. Dependent persons (spouse and children) may apply for permanent residence only after 5 years of residence in the UK. The investor receives the right to family reunification with his parents after achieving permanent residence status.
The investor and dependent persons must spend at least 180 days a year to be eligible for permanent residence.
Despite the pandemic, a visa is regularly issued for a period of 3 months or more.
Finally, the investor has the right to apply annually for a non-domicile tax regime, which limits tax liability on foreign income to amounts left outside or transferred to the UK.
For those who are interested in the topic of immigration, we recommend that you familiarise yourself with the following video.