The UK to review all investor visas granted before 2015

The UK authorities have very strict policies against money laundering and the use of illegally obtained funds. Both current applicants for a British visa and those who entered the UK quite a long time ago are under review.

As we know, the UK Home Office is going to review all Tier 1 Investor visas granted from June 2008 to April 2015. It is estimated that during this period 6,312 visas were issued.

It is not yet clear how exactly the review will be carried out, or whether visas and citizenship of migrants with suspicious sources of income could be revoked. According to some specialists, the law does not have a retroactive effect. And if all the procedures have been carried out in accordance with the previous legislation, it is impossible to apply retroactively the rules of the new law to the investors.

Probably there will be exceptions if it turns out that investment funds were received illegally. In this case, however, it should not be an immigration case but should lead to a criminal investigation in cooperation with law enforcement bodies in other countries.

It is important to note that a similar review was already carried out in 2018, but its results were not published. At the same time, the requirements for obtaining a Tier 1 Investor visa were tightened.

The main reason for this was severe public criticism that said that citizenship should not be given simply to anyone who is ready to pay for it, even if it is a large sum of money. Every applicant must undergo thorough due diligence checks.

As a result, additional requirements have been imposed on investors. Investors must prove a legal source of money. In addition, the Home office has abolished the option of investing in real estate and government bonds. The only remaining options are share and loan capital.

The introduction of tighter requirements has reduced the number of UK investor visas by 84%. However, the Home Office maintains the sensible position that security and avoiding possible future problems are more important than the number of new wealthy migrants.

At the same time, honest investors are still welcome in the UK. The government is keen on mutually beneficial cooperation. On the one hand, investors can invest and receive dividends in the country with one of the strongest and most stable economies in the world, and they can count on full legitimacy and protection of their rights. On the other hand, the government has money to boost important sectors and foster businesses.

Imperial & Legal stay up to date with the developments and are ready to advise you on any issues about obtaining a Tier1 Investor visa.