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Golden Visa in UK

Golden Visa in UK

The old UK golden visa program has been closed. However, the government enabled new schemes as alternatives for foreign investors interested in moving to the UK in 2024. They are presented below, alongside some information on the old project for comparison.

We can also advise on other golden visa countries out of the EU after Brexit.

The Tier 1 visa for investors in the UK is closed

These were the main requirements for business persons outside the EU and EEA looking for citizenship by investment countries:

  • the government bonds, loan capital in active and trading registered companies in the UK are the investments a person can make to obtain the Tier 1 visa;
  • the investments in foreign currencies are allowed in the UK;
  • if you have created your own company in the UK through investments, you cannot work for another company;
  • a foreign investor can spend 180 days outside the UK within a year.

It is still possible to apply for a Tier 1 Investment visa extension even if the UK Investor visa scheme is no longer open to new applicants. The following conditions may allow you to renew your Tier 1 Investment visa for up to two years with your dependent family members:

  • possess authority over at least £2 million in the UK;
  • have used these funds to purchase shares of active UK companies or to make loans to them.

We invite you to read about the golden visa/citizenship by investment in the UK in the scheme below:

Golden Visa in UK

Alternatives to the Tier 1 or golden visa for the UK

There are several visa alternatives available to people who want to invest their and obtain UK residency. These options have been created by the Home Office to move away from a simple exchange of citizenship and residency for investment. The current programs usually require the visa holder to actively manage their UK investment, such as actively participating in their UK company.

The replacements of the UK golden visa are:

  1. the Innovator Visa scheme;
  2. the Start-up Visa program;
  3. the Global Talent Visa;
  4. the Scale-up Visa.

If you need information on any of these programs, our golden visa agents can advise you. Alternatively, they can also offer guidance on other citizenship by investment countries where direct citizenship can be obtained.

The UK Innovator Visa

Business entrepreneurs with experience can establish a company in the UK by applying for the Innovator Visa. This is a residence permit issued for a maximum of 5 years, and it allows the holder to remain in the UK with his or her family. After that, the main applicant may be able to apply for Indefinite Leave to Remain in the UK.

In order to apply for the Innovator route, one must first receive an endorsement from an authorized entity attesting to his/her commitment to making the business succeed and the ability to meet the standards of being inventive, feasible, and scalable.

The minim amount to be invested when applying for this visa is GBP 50,000.

If you need guidance in applying for this type of visa instead of the UK golden visa, you can rely on our specialists.

The Start-up Visa for the UK

First-time business owners seeking for a replacement for the golden visa can use the Start-up Visa to enter the United Kingdom. Both graduates and non-graduates can take this route, and eligibility does not require any upfront payment.

The visa is only valid for a maximum of 2 years, after which the holder will need to apply for a new visa category, like the Innovator visa, in order to continue growing his or her company.

Candidates must first obtain an official business sponsor’s or an institution’s endorsement. A business plan outlining your idea, tactics, and projections will need to be created for this procedure.  After being accepted, the candidate can apply for a visa with the Home Office.

Feel free to get in touch with our consultants for an updated list of golden visa countries where such a program is still running.

The Global Talent Visa for the UK

Those who possess outstanding experience in their sector of employment are eligible to work in the UK through the Global Talent Visa. There is no need to have evidence of a minimum amount of funds or to make an investment in order to meet the qualifying requirements.  In contrast to the previous golden visa, which required 5 years, this path allows for expedited settlement in the UK after 3 years.

Candidates would have to fulfill a minimum of 2 requirements from the ones listed below:

  • submit evidence of an innovative track record as the founder, senior executive, or employee of a product-led digital technology company, or as an employee working on a new digital field or concept;
  • file evidence of recognition for work beyond the applicant’s field that contributes to its development;
  • submit evidence that he/she has made significant contributions to the field as a founder, senior executive, board member, or employee of a product-led digital technology company;
  • file evidence of his or her exceptional ability in the field through academic contributions and research published or endorsed by an expert.

Permanent residency in the UK in 2024

Foreigners have the possibility of obtaining a golden visa/citizenship by investment in the UK in 2024 if they apply for any of the new programs presented above. If they decide for naturalization in the 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 is the UK citizenship test, also known as “Life in the UK test”.

If you want to apply for British golden passports, contact us.

Can I remain in the UK after obtaining a Tier 1 Investor Visa?

You can apply for ILR (Indefinite Leave to Remain) if you have been a Tier 1 Investor and have lived in the UK continuously for 5 years. You can apply for accelerated ILR after a continuous period of two or three years if you have kept an investment of at least £10 million or £5 million as a Tier 1 Investor. You cannot have spent more than 180 days outside of the UK in any 12-month period during your qualifying 2, 3, or 5 years in order to be eligible for ILR as a Tier 1 Investor. To be qualified for ILR, you must also have a strong command of the English language, unless you are 65 years of age or older.

We invite you to talk to our team of lawyers and find out extra information about golden visa countries and about citizenship by investment in this country. Please contact us soon.