72 Indian millionaires granted Tier 1 Investor visa since 2008
September 12, 2017

72 Indian millionaires granted Tier 1 Investor visa since 2008

UK Home Office figures confirm that 72 Indian millionaires migrated to the UK on Tier 1 Investor visa since 2008. This is a healthy development revealing that the business community and the migrants have contributed well to the economy of the country.

Tier 2 Visa Gaining Popularity Among Indians

72 Indian millionaires opted for the Tier 1 visa, and several citizens from Indian arrive in the UK on the Tier 2 visa (General) visa, through which skilled workers work for a UK employer with Tier 2 sponsorship license, and obtain PR Status.

India is a top nation from which the millionaires migrate to the UK using the Golden Visa route. These millionaires also accompanied 84 dependents.

Based on the Office data and identification by nationality Apart from the Indians Tier 1 investor visas are popular with entrepreneurs from USA, Russia, and China, too.  Their varied investments into the UK have made a significant contribution to the economy.

Tier 1 Investment Threshold Changes

In the past during Nov 2014, the minimum investment required to be done in a Tier 1 investor visa category was £1 million. The original this threshold did not benefit the economy in a big way and was enhanced to £2 million after a review by Home Office committee, in Feb 2015.

The Tier 1 investor visa has a provision where foreigners are allowed to invest £2, or £5 or £10 million in the economy of UK. This Investment results in PR Status for visa holders as well as their dependents for two, three years or five years, based on the quantum of investment being done.

Concerns over Tier 1 Investor Visa

Britain has benefitted owing to the overseas investment through the Tier 1 investor visa, but Transparency International is worried about the program. They state that it could be employed for money laundering and has urged for checks and controls on the applicants/ investments.

In a report, the campaign group calls for Britain to take proper steps and not become a destination for corrupt individuals, who search for investing or money laundering and seek a luxurious lifestyle, and clean their reputations. It should not be allowed to attract corrupt persons to get UK residency. There must be no endorsement and legitimization attempts by the government in Britain.

The data reveals that the number of people who are given the Tier 1 investor visa is declining. This has happened owing to the increase of the investment required to £2 million. This is also the result of the strict policies and clamp down undertaken by the government in the UK.

Golden visa in the UK attracts more investors when compared to visa schemes pursued by other nations like Australia, the USA, and Portugal. Britain is popular as it has historical connections, stability in the political system and a liquid economy.

There is no interference from the UK government regarding individual/ private assets.

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