News Archive - September 2019

Golden UK Visas are Growing More Popular around the Globe

26 Sep 2019 | Carl Thomas

The number of rich individuals from around the world investing in the UK for golden UK visas is growing. According to the latest reports, the number foreigners giving £2 million to the UK in exchange for the new kind of UK work permit is at its highest rate in five years. This growth is happening despite a significant clamp down on the scheme. The Home Office granted more tier 1 UK visas to 255 people in the first half of 2019, allowing them to work and live in the UK for a period of at least five years.

The award of 255 UK visas is the highest number to be given out in a short time frame since 2014 according to Home Office data. The increase came after Caroline Nokes suspended the scheme in December 2018, stating that the UK would no longer tolerate people who attempted to abuse the immigration UK system.

As issues surrounding the UK work permit and other entry methods into the UK continue to arise, the Home Office has backtracked and kept the controversial golden visa scheme in place. However, tougher rules were introduced in April to reduce the risks of money laundering and organised crime in the country.

In the three months leading up to the end of June, the Home Office granted 124 UK visa applications for tier 1 investment visas - an increase from just 91 in the same period during 2018. Home Office information suggests that only four applicants had their request for golden visas denied in that same time period.

Around 11,000 people in total have entered the UK through investment strategies since the scheme began in 2008. This highlights the fact that it's increasingly easy for people to enter the UK if they have the right amount of money, though accessing things like the tier 2 work permit is becoming more difficult.