Golden Visa in UK
Updated on Wednesday 17th February 2021
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Foreign entrepreneurs looking to establish themselves in the UK for business or for other reasons can apply for the golden visa program in this country. This involves the Tier 1 UK investor visa and investments of GBP 2 million for many benefits, among which the temporary residency can turn into a permanent one under certain conditions. We invite you to talk to our team of lawyers in UK and find out complete details about the requirements for obtaining the Tier 1 investment visa for UK.
Requirements for obtaining the Tier 1 visa for investors in UK in 2021
Companies involved in property investments in UK cannot be on the list of entrepreneurs looking to apply for a Tier 1 investor visa. These are the main requirements for business persons outside EU and EEA looking to relocate to UK through investments:
- the government bonds, loan capital in active and trading registered companies in UK are the investments a person can make for obtaining the Tier 1 visa;
- the investments in foreign currencies are allowed in UK;
- if you have created your own company in UK through investments, you cannot work for another company;
- a foreign investor can spend 180 days outside UK within a year.
We invite you to read about the Golden Visa program in the UK in the scheme below:
What are the benefits of the Tier 1 visa for investors in UK?
It is good to know that an investment of GBP 2 million grants an indefinite leave to remain after 5 years in UK. Having a Tier 1 visa for investors allows the applicant to enter UK with the family members who can attend prestigious colleges in the country. Among the benefits of the golden visa scheme in UK in 2021, we mention that the entrepreneurs can travel freely in many countries around the world and can let them develop business partnerships with countries like China or USA.
Permanent residency in UK in 2021
Foreigners have the possibility of obtaining permanent residence in UK in 2021 if they invest GBP 5 million after three years of living in this country. If they decide for naturalization in UK, they may apply for such status after living here for at least 5 years. However, if they are married to a British citizen, they can apply for naturalization after 3 years. The application for British citizenship is subject to several requirements among which the UK citizenship test, also known as “Life in the UK test”.
Are there any changes in the Golden Visa in UK after Brexit at the beginning of 2021?
Even if at the beginning of 2021 the UK completed Brexit, the Golden Visa scheme remains unchanged. Moreover, now foreign investors and high net worth individuals interested in moving to the UK from EU states can apply for this visa.
Brexit has not affected programs such as this one, and foreign citizens from non-EU countries will benefit from the same conditions when applying for a UK golden visa in 2021. However, those who have EU residency must comply with similar requirements applicable to non-EU citizens.
We invite you to talk to our team of lawyers and find out extra information about the golden visa scheme for UK and about citizenship by investment in this country. Please contact us soon.