Tier 1 Investor Visa to be suspended
A Visa Scheme that allowed foreign investors a ‘fast-track’ option to settle within the UK will be suspended until further notice.
The halting of the ‘Gold-Plated’ visa scheme comes as an initiative of the UK government to ‘crackdown’ on financial crime.
In 2008, The UK introduced Tier 1 Investor Visas as a means to boost the UK’s economy by encouraging wealthy foreign nationals to invest within the UK.
All those seeking to come to the UK on a Tier 1 Investor Visa must be able to invest two million into the UK economy, in which will then grant them a visa and an ‘Indefinite Leave to Remain’ status for up to five years.
However, immigration ministers within the UK recently put a halt to the scheme, due to the rising number of concerns that it was a main cause of laundering money within the UK.
By suspended the Tier 1 Investor Visa Scheme, UK immigration ministers hope that more “genuine” investors will come to the UK as Caroline Nokes recently stated that the UK “Will not tolerate people who do not play by the rules”.
The suspension will come into effect tonight on Friday 7th December 2018 at midnight until new rules are introduced in 2019.
If you would like to discuss this article further or have any general legal enquiries, please contact one of our highly qualified solicitors on 020 3318 5794 or via email at firstname.lastname@example.org