It is becoming more and more expensive to live in the UK. Forget inflation and rocketing house prices – for some it costs literally millions to simply gain the right to live in the UK and apparently, judging by the reported rise in investor visas recently, it’s worth the money.
Given the Coalition Government’s crackdown on immigration and the subsequent restrictions on (or even closure of) various categories under the Points-Based System, obtaining the right to live and work in the UK has become increasingly difficult for non-European nationals. Not so, however, for those with the means to apply for an investor visa.
Those wishing to apply for entry clearance as a Tier 1 (Investor) migrant enjoy a more straightforward and painless procedure than those who apply under other categories, provided they have the necessary £1,000,000 to invest in the UK.
Furthermore, since April 2011 investors can shorten their eligibility period for indefinite leave to remain by increasing their investment. £1,000,000 gives the standard five-year qualifying period, while £5,000,000 reduces this to three years and £10,000,000 takes it down to just two years.
Little wonder that the number of investor applications has risen dramatically over the last year! Compare this with plummeting net migration to the UK due to the crackdown on other categories of migrants and it’s clear where the UKBA’s priorities lie.