15.02.2016 End of Tier 1 Investor Visa is proposed

15.02.2016 End of Tier 1 Investor Visa is proposed

Two members of House of Lords proposed abolition of Tier 1 Investor visa.

Under the proposed amendments, Lords call for the closure of the route to visas for both new application as well as those switching to the Tier 1 investor from other visas, no later than 1 January 2017.

It might be noted that popularity of Tier 1 Investor Visa route has been knocked by the increase in the minimum investment required, to £2m from £1m, in November 2014, and by recent geopolitical and economic factors in the two main source countries for Tier 1 Investor Visa applicants, China and Russia.

Overall, it is highly unlikely that the changes would take effect, however, for anyone who is interested in getting Tier 1 Investor type it would be advisable to begin engaging with the application in order not to miss the opportunity or not to come across with another increase of investment threshold.