IMMIGRATION FOR HIGH NET WORTH INDIVIDUALS

IMMIGRATION FOR HIGH NET WORTH INDIVIDUALS

The UK remains a sought-after destination for high net worth individuals (HNWIs) seeking to establish a base for family, business or long-term residence. Through a network of trusted partners, Gherson provides bespoke relocation planning to HNWIs and their family offices, not only helping to secure the correct immigration status for main applicants, their family members and their staff, but also helping our clients to identify the best properties, schools and tax and wealth management advisors for the journey ahead.   

KEY IMMIGRATION ROUTES

1. Main Applicants: there are several routes open to HNW professionals interested in UK relocation, including the Innovator Founder Visa (for entrepreneurs keen to bring a new business concept to the UK market) and the Global Talent Visa (for recognised experts in fields including digital technology, arts and culture). Certain applicants may also qualify for British citizenship from the outset because of their ancestry.
2. Family Members: partners and children of HNWIs can consider relocation to the UK under dependant visas, or other routes such as student and parent of a student visas. Again, children born in the UK may already have a path to settlement or citizenship, depending on their specific circumstances.
3. Staff: routes like the Skilled Worker and Expansion Worker categories can be considered for the permanent relocation of HNW family office and other management staff to the UK, while the Overseas Domestic Worker Visa provides a temporary short-term option for accompanying household staff.

KEY CONSIDERATIONS

• Timings: Often, you may wish to coincide a move to the UK with the start of the tax or academic year. Advance planning is key.
• Tax: Despite recent changes to the UK’s ‘non-dom’ regime, it can still be possible to optimise tax efficiency by carefully structuring your assets ahead of becoming resident in the UK.
• Travel requirements: We appreciate that HNWIs will be frequent international travellers. Understanding how to manage your travel needs against residence requirements for future immigration and citizenship applications is crucial from the outset.
• Long-term commitment: Generally, the UK only offers the possibility of settlement and citizenship after a minimum of five years’ residence in the UK. It is therefore important to weigh up the benefits of fully relocating your family and/or business to the UK against long-term investment, property purchase, tax liability and tuition fee commitments. Strategic planning is invaluable.

HOW GHERSON CAN HELP

Gherson has extensive experience advising HNWIs and their families on the most suitable immigration pathways. Our services include:

• Strategic Assessment
  Evaluating your objectives and personal circumstances to determine the most appropriate visa route, taking into account long-term settlement possibilities.
• Application Support
  Assisting with preparing and submitting applications, gathering the necessary documentation and ensuring compliance with all Home Office requirements.
• Ongoing Assistance
  Continuing to support you after your initial application, advising on possible extension and settlement applications, and any changes to UK immigration rules.

For tailored advice on your individual situation or to discuss any aspect of immigrating to the UK as a HNWI, please contact us today. Our dedicated solicitors and specialists are here to guide you through the complexities of UK immigration law and ensure a smooth application process.