News & Insights

Investor visa scrapped

The Investor visa route is no more, although the new Innovator visa may provide an alternative.

The Tier 1 Investor visa was withdrawn rather suddenly on 17 February 2022, following Priti Patel’s announcement via twitter and the Gov website. This visa category attracted migrants who could invest at least £2 million into active and trading UK companies.

Applicants who submitted their applications before 4pm on 17 February 2022 will continue to be considered under the rules in place at the time of their application. Those already granted Investor visas will be able to extend their visas and qualify for Indefinite Leave to Remain.

Since the route was introduced in 2008, there had been reforms to improve its value to the UK economy and to reduce the exposure of the route to abuse.  The route had been under constant review and some cases had given rise to security concerns, where Investors had acquired their wealth illegitimately or were associated with wider corruption.

The sudden closure of the route is a warning from the government to those wanting to abuse the immigration system.  Although many groups raised objections to the closure of the route, the Home Office argued that the Innovator route under the points-based system could be used as an alternative. The Home Office will be improving the Innovator route to provide an alternative investment visa which supports the British economy and its businesses.

Settlement under the Investor route permitted settlement by passively holding investments. Settlement under the innovator route will be conditional on applicants demonstrating genuine job creation and other tangible economic impacts.

FSP can advise on all aspects of immigration and the available routes to come into the UK.

If you require our assistance, please contact our Head of Immigration, [email protected].