Many people have criticised this as being open to abuse. And apparently It has been under constant review and some cases had given rise to security concerns, including people acquiring their wealth illegitimately and being associated with wider corruption.
While work has been done to reform the route in order to prevent abuse, the Home Office has acted to close it today.
This may in part be due to the number of Tier 1 visas issued to Russian nationals – and the trouble brewing in Ukraine.
However, while the Tier 1 investor visa is now history the Home Office have announced that they will be making reforms to the Innovator route, part of the new points-based immigration system, to provide an ambitious investment route which works more effectively in support of the UK’s economy.
Apparently the Tier 1 investors visa and its potential for abuse by certain individuals has been under investigation for years – but it will come as no surprise that the HO has failed to publish the report.
However, while the Tier 1 visa as it stood is now gone the Home Office have stated that The introduction of the points-based immigration system has allowed the UK to target investors who are desirable.
Further information will be provided when applicable.
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