Tier 1 Investor Visa Route Closes

For several years, high net worth individuals hoping to make a home in the UK had the option to get residency by investment with the UK investor visa, also known as the tier 1 visa. 

However, as of February 2022, that option has been closed. Here’s what you need to know about why the tier 1 visa program was closed. 

What Was the Tier 1 Investor Visa?

If you’re shocked by the news that the tier 1 investor visa rout closes for would be UK immigrants, then you probably already know what this program was. 

However, there are some people who might not have been aware of this option. 

The Tier 1 visa was an immigration by investment program that allowed people with the financial means to make a financial investment in the UK (as approved by the government) to invest several hundred thousand pounds to bypass some of the immigration requirements set out by the British government. 

Like most so called “golden visa” programs people who applied to move to the UK under this program still had to meet other immigration requirements.

Why Was the Program Ended?

Like most immigration by investment programs, the UK government monitored the tier 1 visa program very closely. Recently, it was found that an increasing number of people acquired the funds they invested by illegal means. It was also found that some people who did acquire residency this way continued their unlawful activities. 

What Will Replace the Tier 1 Visa Program?

At this point, no one is entirely sure what will replace the tier 1 visa program. 

There’s no denying that since it was introduced in 2008, it has been responsible for significant investment in the British economy, which is the ultimate goal of these kinds of programs. However, like most governments, the British government have to balance the economic benefit with the security risk, and for now, it seems that the risks outweigh the benefits. 

What Happens to People Who Already Used This Route?

Generally, in immigration, the law that applied when you applied for consideration is the one that governs your processing by the government, so people who applied for residency in the UK under the tier 1 visa program should not have any problem staying in the country under the terms of their residency type. In fact, many have probably already applied for and been granted indefinite leave to remain. 

However, the UK government has stated that it intends to investigate this program in some detail, so people who acquired their residency through less than honest means might still have something to worry about. There are many laws that govern immigration, and in most countries (including the UK) there is recourse when people acquire residency based on misrepresentation or if they are a security risk. 

In other words, if your process and the funds that supported it were all above board, you shouldn’t have any worries. But if there was anything less than honest about your application, you might be in some trouble. 

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