Home office has announced new changes to UK golden visa scheme known as tier1 investor visas effective from 29 March 2019.
Here are the most important changes under the new reform proposed by Home office for tier1 investor and entrepreneur category
- Government bonds has been excluded
- Applicants must open a UK bank account complying with AML/Due diligence/KYC
- Hold investments for 2 years (24 months) instead of previous 3 months.
- Tier1 entrepreneur scheme to be removed and replaced with Startup and Innovation visas
- Intermediaries to be regulated by the Financial Conduct Authority (FCA),
- Investment pools option introduced
- Transitional arrangements will continue until 5 April 2023 for extension applications and 5 April 2025 for settlement applications.
- Startup visas will not lead to settlement
- Innovator visas require £50,000 (reduced from £200,000 ) to invest in their business and will lead to settlement
The Entry clearance will be granted for 40 months (initial investor applicants) and investor extensions 24 months