The Migrant Advisory Committee (MAC), are responsible for a number of significant changes to the Tier 1 Investor Visa category due to come into force later this year. The category was introduced in 1994 and has been a significant method of attracting high net worth migrants to invest in the UK. The proposed changes made by MAC, will allow investors greater flexibility over how they want to invest their money.
Sir David Metcalfe’s Views of the Tier 1 Investor Visa Route
Last year the UK government asked the Migrant Advisory Committee to review the economic impactof the Tier 1 Investor visa route and comment on the current minimum level of investment required for this route.
Sir David Metcalfe, the head of the UK’s Migration Advisory Committee (MAC), gave evidence to the House of Commons’ Home Affairs Committee on 10th of December 2013 in relation to the value of Tier 1 Investor visa route.
Questioned on how he was progressing with the review, Sir David Metcalfe stated: “Let me say something that we found, which is peculiar, but perhaps you have heard many more peculiar things. Nobody can tell us why we have the Investors route. It is not anywhere set out whether we have the Investors route. We basically had to start with a blank sheet of paper.”
Proposed Changes Of The Tier 1 Investor Visa Route
The Migration Advisory Committee (MAC) published a report on the Tier 1 Investor visa route in which it outlined several options for reform of the investor’s route. These included raising the minimum investment threshold from £1 million to £2 million, widening the investment options to encourage alternatives to gilts and removing the ability of the investment funds to be raised by way of a loan.
The proposed changes will allow investors with greater flexibility over how they want to invest their money. The rules relating to the maintenance of investments are also expected to be relaxed thereby allowing investors to have a greater say in how their investments are controlled.
An advantage of the proposed changes is the introduction of an auction system. This is for a set amount of premium route visas which will allow applicants to apply for settlement after two years. There will be a reserve price of £2.5 million, of which £500,000 will be donated to the UK government as a gift for good causes. This is said to be replacing the current fast tract routes to settlement, causing some uncertainty amongst potential investors.
Successful UK Tier 1 Investor Visa Applications
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 dependants) step by step and limit the possibility of failure by complying with the strict letter of law.
We also undertake a great deal of appeal work before the Immigration and Asylum Tribunal and have a successful track record of successful results for our clients. We have the experience and the knowledge required to take your case forward successfully. If you have had a Tier 1 Investor visa refused, contact us to discuss your case so that we can provide you with a case assessment.
Contact us so that we can review your case and provide you with an assessment.