UK Tier 1 Investor Visa (Closed)

What the program offered

The UK first offered an investor category in 1994. It became the Tier 1 (Investor) visa of the points-based system on 30 June 2008. The minimum investment rose from £1 million to £2 million on 6 November 2014. From March 2019 the money had to go into share or loan capital of active, trading UK-registered companies (government bonds no longer counted), and property investment was never allowed. Investors could settle permanently (indefinite leave to remain):

• after five years with £2 million invested;
• after three years with £5 million;
• after two years with £10 million.

To qualify for settlement, investors could spend no more than 180 days a year outside the UK. British citizenship could follow through naturalisation.

Why it closed

On 17 February 2022 Home Secretary Priti Patel closed the Tier 1 (Investor) route to all new applicants of all nationalities with immediate effect. She cited security concerns, including people with illegitimately acquired wealth and links to corruption using it to enter the UK. A review of 6,312 investors and adult dependants granted leave between 30 June 2008 and 6 April 2015 was published on 12 January 2023. It found that a small number were potentially at high risk of having obtained wealth through corruption or other illicit finance, and that some applicants had sought out the financial institutions with the weakest due diligence.

What happens to existing Tier 1 Investor holders?

Existing investors were allowed to extend their visas until 17 February 2026 and can apply for settlement until 17 February 2028. For investors and entrepreneurs today, the UK offers the Innovator Founder and Global Talent visas instead of an investment visa.

Sources

• GOV.UK – Tier 1 Investor visa route closes over security concerns
• UK Parliament – Written statement HCWS492 on the Tier 1 (Investor) review, 12 January 2023
• Best Citizenships – UK Tier 1 Investor visa
• Best Citizenships – UK shuts down Tier 1 Investor visa route