Tier 1 Investor Visa Route Closed

IN THIS SECTION

The UK Government has permanently closed the Tier 1 (Investor) Visa route for foreign nationals.

The closure took effect from 4pm 17 February 2022, and applies to all new investor visa applications from applicants of all nationalities.

 

Statement of Changes 

In its statement, the Home Office advised that the visa route had been “under constant review” and that the closure was a decision by the Home Secretary, Priti Patel, in response to “security concerns, including people acquiring their wealth illegitimately and being associated with wider corruption”.

The changes were reflected in a 12-page statement of changes to the Immigration Rules (CP 632), published this afternoon. The accompanying explanatory memorandum states: “The Government considers this departure from that convention to be necessary and proportionate for reasons of national security and the operation of the immigration system, and to be consistent with the purpose of the closure of the Tier 1 (Investor) route to new applicants”.

The findings of the Home Office review into all Tier 1 Investor visas granted between its start date in 2008 up to 5 April 2015 when the route was reformed, are expected to be published in due course.

 

Innovator route reform 

With the investor visa no longer available to foreign nationals, the Home Office has advised that the existing Innovator route is to be reformed “to provide an ambitious investment route which works more effectively in support of the UK’s economy”.

Settlement is to be “conditional on applicants executing an investment strategy that can show genuine job creation and other tangible economic impacts. Passively holding UK investments will no longer be enough to obtain settlement”, the Home Office statement added.

 

Alternatives to the UK investor visa 

As an alternative to the UK investor visa, we can support with applications for the Irish Immigrant Investor Programme (IIP), which offers residency in Ireland, as well as a path to Irish citizenship and to an Irish (EU) passport.

 

Need assistance?

If you have a question about the closure of the investor visa, or the immigration options to invest in UK-based enterprises, contact our business immigration specialists.

 

Last updated: 17 February 2022

Author

Founder and Managing Director Anne Morris is a fully qualified solicitor and trusted adviser to large corporates through to SMEs, providing strategic immigration and global mobility advice to support employers with UK operations to meet their workforce needs through corporate immigration.

She is a recognised by Legal 500 and Chambers as a legal expert and delivers Board-level advice on business migration and compliance risk management as well as overseeing the firm’s development of new client propositions and delivery of cost and time efficient processing of applications.

Anne is an active public speaker, immigration commentator, and immigration policy contributor and regularly hosts training sessions for employers and HR professionals

About DavidsonMorris

As employer solutions lawyers, DavidsonMorris offers a complete and cost-effective capability to meet employers’ needs across UK immigration and employment law, HR and global mobility.

Led by Anne Morris, one of the UK’s preeminent immigration lawyers, and with rankings in The Legal 500 and Chambers & Partners, we’re a multi-disciplinary team helping organisations to meet their people objectives, while reducing legal risk and nurturing workforce relations.

Legal Disclaimer

The matters contained in this article are intended to be for general information purposes only. This article does not constitute legal advice, nor is it a complete or authoritative statement of the law, and should not be treated as such. Whilst every effort is made to ensure that the information is correct at the time of writing, no warranty, express or implied, is given as to its accuracy and no liability is accepted for any error or omission. Before acting on any of the information contained herein, expert legal advice should be sought.

Contact DavidsonMorris
Get in touch with DavidsonMorris for general enquiries, feedback and requests for information.
Sign up to our award winning newsletters!
Find us on: