The UK has scrapped the Tier 1 Investor visa scheme months after the Home Office carried out a legacy review of the programme over “security concerns”.
The scheme will be shut to all new applicants from all nationalities with immediate effect. The programme has been popular with wealthy Russian oligarchs and Chinese investors.
The visa has been available to investors with funds amounting to at least £2 million ($2.72 million, €2.39 million) to invest in the UK. Applicants were required to prove that they have had control of the required £2 million for at least two years or provide evidence of the source of the funds if held for less than two years.
Russell-Cooke associate Bhavneeta Limbachia appears in International Adviser to discuss the abrupt end to the UK's Tier 1 Investor visa.
UK Home Office confirms Tier 1 Investor visa axed is available to read on the International Adviser website.
Bhavneeta Limbachia is an associate solicitor in the Immigration team. Bhavneeta has a vast amount of experience in advising clients on both corporate and personal immigration matters. She regularly advises on citizenship, family based applications such as spousal applications, complex EU matters, sponsorship visas, global talent visas and sponsor licences.