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UK Closes the Tier 1 (Investor) Visa: What You Should Know
You’ll learn why the UK ended its “Golden Visa” route, how investors already in the system can plan ahead, which alternatives exist and what this change means in a global context.
The End of the “Golden Visa”
On 17 February 2022 the UK government closed its Tier 1 (Investor) visa route with immediate effect, halting all new applications, in a measure detailed by Fragomen’s analysis of the route closure.
Why the Timing Matters
The closure coincided with publication of a new BBC News coverage of the UK’s Fraud Action Plan and introduction of the Economic Crime Bill tracked on Parliament’s website, signaling a coordinated drive against money laundering and abuse of financial routes.
A Look Back: History and Major Reforms
The concept of an investor visa in the UK dates to the mid-1990s, but the specific Tier 1 (Investor) category was introduced in April 2008 as part of the UK Tier 1 (Investor) visa under the Points-Based System.
Tightening the Rules in 2015 and 2019
- In April 2015 applicants first had to hold a regulated UK bank account before applying.
- In 2019 new measures raised the minimum document standards and financial scrutiny, reflecting concerns over misuse.
What Happens Next for Current Investors
If you already held a Tier 1 (Investor) visa on 17 February 2022:
- You can apply to extend your stay until 17 February 2026.
- You can apply for Indefinite Leave to Remain until 17 February 2028, as outlined in a Lexology briefing on transitional visa deadlines.
These transitional deadlines are unusually generous compared to other visa closures.
Exploring Your Options: Alternative Routes
Since the passive investment route is gone, you might consider:
- Innovator Visa — for experienced entrepreneurs with a new business idea.
- Start-up Visa — for first-time founders backed by an approved endorsing body.
- Skilled Worker Visa — if you have a job offer from a UK employer.
- Global Talent Visa — for recognised leaders or potential leaders in academia, arts or digital technology.
- UK Expansion Worker Visa — for employees of overseas businesses setting up a UK branch.
- High Potential Individual Visa — for graduates from top global universities.
Each route has its own eligibility criteria and investment or endorsement requirements. See the full list in the official GOV.UK overview of visa and immigration routes.
The UK in a Global Context
The Tier 1 (Investor) visa was often called the “UK Golden Visa,” akin to programs in Portugal, Spain and Canada that have similarly faced scrutiny; this parallels analysis in the OECD’s report on investor citizenship and residence schemes. By removing a passive-investment channel, the UK now aligns more closely with peers tightening these schemes.
What’s Around the Corner
A government report on historic Tier 1 (Investor) grants—covering pre-2015 and pre-2019 applicants—is expected later this year, according to a Reuters briefing on forthcoming UK policy reviews. Its findings may guide any future investor route, which ministers say will focus on genuine, economy-boosting backers.
Looking Ahead
The closure of the Tier 1 (Investor) visa marks a clear shift away from purely passive investment migration. If you’re an existing investor, plan your extensions and ILR applications well before the 2026 and 2028 deadlines. If you’re seeking a fresh start in the UK, explore one of the alternative routes tailored to entrepreneurs, skilled workers and high-potential graduates.
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