The Home Secretary has taken an action to shut the Tier 1 Investor visa route to all new applicants from all nationalities with immediate effect starting from 4 pm 17 February 2022.
Statement of Change
The Tier 1 Investor route had allowed to entry and stay in the UK if an applicant’s invested funds in share and loan capitals in active and trading UK registered companies. The Home Office advised that the Investor Visa route had been under constant review and acted to close it today despite work had been done to reform the route to prevent abuse. The decision was made by Home Secretary, Priti Patel in response to security concerns, including people acquiring their wealth illegitimately and wider corruption.
Home Secretary Priti Patel said:
“I have zero tolerance for abuse of our immigration system. Under my New Plan for Immigration, I want to ensure the British people have confidence in the system, including stopping corrupt elites who threaten our national security and push dirty money around our cities.”
“Closing this route is just the start of our renewed crackdown on fraud and illicit finance. We will be publishing a fraud action plan, while the forthcoming Economic Crime Bill will crackdown on people abusing our financial institutions and better protect the taxpayer.”
The closure of Investor Visa route demonstrates the UK Government new plan for UK Immigration in action that prevent those wanting to abuse the immigration system while those who want to come to the UK and respect the rule would have the opportunity.
The finding of Home Office review into all Tier 1 Investor visa granted from the scheme was started in 2008 up to 5 April 20025 when the route was reformed, are expected to be published in due course.
Innovator Visa Route Reform
With the Investor visa route is no longer available to all nationalities, the Home Office will be making reforms to the innovator route that “to provide an ambitious investment route which works more effectively in support of the UK’s economy. “The introduction of new Points-based immigration system will allow the UK government to target investors they want in this country and the reformation of Innovator visa will be supporting on that. The Home Secretary advised that “the settlement will be conditional on applicants executing an investment strategy that can show genuine job creation and other tangible economic impacts, passively holding UK investments will no longer be enough to obtain settlement.”
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