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Tier 1 Investor visas on halt amid corruption fears

07 December 2018 #Immigration #Inward Investment


Tier 1 investor visas which require a person to invest at least £2million in the UK is currently suspended until the Home Office put new rules into place.

This visa category enables people to remain in the UK and apply for indefinite leave to remain (settlement) after five years with a £2million investment. This reducing to two years if an investment of £10 million is made.

Concerns have been raised that the visa route known as “golden visas” is open to organised crime and money laundering.

Immigration minister Caroline Nokes said: “The UK will always be open to legitimate and genuine investors who are committed to helping our economy and businesses grow. However, I have been clear that we will not tolerate people who do not play by the rules and seek to abuse the system.”

Once the new rules are in place in 2019, independent, regulated auditors will be checking applicants have had control of their funds and will be assessing applicant’s financial and business interests.

Clarkslegal, specialist Immigration lawyers in London, Reading and throughout the Thames Valley.
For further information about this or any other Immigration matter please contact Clarkslegal's immigration team by email at immigration@clarkslegal.com by telephone 020 7539 8000 (London office), 0118 958 5321 (Reading office) or by completing the form on this page.
Disclaimer
This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full General Notices on our website.

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Monica Atwal

Monica Atwal
Managing Partner

E: matwal@clarkslegal.com
T: 0118 9604 605
M: 0787 659 0971

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