Tier 1 (Investor) Visa to new applicants suspended with immediate effect
It was reported on 7 December 2018 that the Home Office (the Home Office is a ministerial department of Her Majesty’s Government of the United Kingdom, responsible for immigration, security, law and order) will be suspending the Tier 1 (Investor) Visa to new applicants with immediate effect.
The Tier 1 (Investor) Visa is designed for high-net worth individuals who want to relocate themselves and their family to the United Kingdom.
The Times, the Guardian and the BBC all quoted from a press release received from the Home Office in which the Immigration Minister cites the reason for suspension as abuse of the system – believed to be a reference to financial crime and money laundering.
“The UK will always be open to legitimate and genuine investors who are committed to helping our economy and businesses grow. However, I have been clear that we will not tolerate people who do not play by the rules and seek to abuse the system. That is why I am bringing forward these measure which will make sure that only genuine investors, who intend to support UK businesses, can benefit from our immigration system.”
Despite this, the Home Office have on 11 December confirmed that the Tier 1 Investor route remains fully open to all applicants.
It remains to be seen whether and when the Tier 1 Investor route will be closed.
Until then, potential applicants for Tier 1 status are recommended to act as quickly as possible.
