It has been reported today, that there has been a sharp increase in the number of Chinese nationals being granted UK investor visas. According to the Financial Times, 357 Tier 1 Investor visas issued to Chinese nationals in the year ending September 2014, showing that the number of investor visas granted have doubled since 2013.
Majority of Tier 1 Investor Visas Granted to Chinese & Russian Nationals
The Financial Times reported Chinese High Net Worth Individuals (HNWIs) accounted for 43% of UK Investor visas issued during the year ending September 2014. In contrast, 5 years ago Chinese nationals made up just 10% of the total number of UK Investor visas granted. 178 Tier 1 Investor visas were granted to Chinese nationals in 2013, showing that the number of UK visas granted to potential investors has doubled in a year. Chinese annual investments in the UK is set to rise to £30 billion a year in 2025.
Furthermore, the figures shows that Russia is the second largest group investing in the UK. In the first nine months of 2014, 162 Russian nationals were granted Tier 1 Investor visas, which is more than the number of Investor visas granted in total in 2013.
It should be noted that these UK Investor visa applications were made before the statement of changes in the Immigration Rules were published in October 2014 and implemented on 6 November 2014. The minimum investment threshold has increased from £1 million to £2 million.
High Net Worth Chinese Nationals want Residency in the UK
The UK is not the only country benefiting from wealthy Chinese investors, America, Australia and Portugal have become popular destinations. According to a Financial times article Chinese national’s motivations for wanting to invest in the UK is because of a number of reasons including the increasingly bad pollution, poor education systems, and the rising of political repression. For this reason the rise in the investment threshold is unlikely to deter Chinese investors who want to gain residency and citizenship in the UK.
There are three different routes to applying for indefinite leave to remain and we can advise you which one best suits your individual circumstances.
- Investment of £2 Million. As an investor you will qualify for Indefinite Leave to Remain (ILR) after five years, provided that you have invested £2,000,000 in the UK.
- Investment of £5 million. If you invest £5,000,000 you will be able to apply for ILR after the investment has been in place for three years.
- Investment of £10 million. If you invest £10,000,000 you will be able to apply for ILR after the investment has been in place for at least two years.
Making a UK Tier 1 Investor Visa Application
The changes have now been implemented and will only apply to Tier 1 Investor applications made after the 6 November 2014. Applicants who currently hold this a Tier 1 Investor visa, need not worry as they will only need to invest £1m but will remain subject to the current rules including the “topping up rule” and the 75:25 split.
Our team of experienced and professionally qualified immigration solicitors and barristers will be able to guide you through the process of making a Tier 1 Investor visa application (and applications for your dependents) step by step and limit the possibility of failure by complying with the strict letter of law.
Contact us so that we can review your case and provide you with an assessment.