UK Plans Visa For The Wealthy

The UK is considering a new visa plan that would enable wealthy foreign nationals to settle in Britain if they invest in sectors deemed crucial for the country's economic recovery. This proposal is being reviewed by Prime Minister Keir Starmer’s government as part of efforts to counteract recent tax hikes and work permit restrictions.

According to Bloomberg, citing unnamed sources, the visa would target individuals willing to invest in areas such as artificial intelligence, clean energy, and life sciences. The plan is still in development and may undergo changes, but it is being discussed alongside options to enhance existing investor visa routes.

This initiative comes as Starmer seeks to stimulate the UK economy while addressing the consequences of his party’s decision to eliminate “non-dom” tax benefits and increase the national insurance payroll tax. These policies, introduced by Chancellor Rachel Reeves in April and October 2024 respectively, have unsettled business leaders and led some of the UK’s wealthiest residents to move abroad.

New visa to replace former 'golden visa'

Britain previously offered a Tier 1 investor visa, which was discontinued in 2022 by the Conservative government due to concerns about its misuse for money laundering, particularly by wealthy individuals linked to Russia. This visa allowed residency for foreigners investing at least £2 million in British companies.

 Starmer’s administration is reportedly cautious about repeating past mistakes and may implement stricter rules this time, such as limiting the types of assets allowed and restricting investment to approved sectors. Property investment, for example, is expected to be excluded. The process will likely include due diligence checks to prevent money laundering.

The government’s recently released immigration white paper, reviewed by Business Standard, indicates a shift in tone on investor migration. While it does not explicitly mention a new investor visa, it states that the migration system should “attract the best talent, entrepreneurship, and investment into our country”.

It also outlines plans to simplify and expand other high-skilled visa routes.

What the immigration white paper proposed

The document proposed a series of changes aimed at attracting individuals with high growth potential and supporting business innovation:

• Increase the number of people entering the UK through high talent routes

• Introduce faster processing for those with skills to help grow sectors such as AI and clean energy

• Expand the scheme for research interns, particularly in artificial intelligence

• Simplify the Global Talent visa for top scientists and designers

• Review the Innovator Founder visa so student entrepreneurs can stay on and build businesses

• Double the number of workers allowed under the UK Expansion Worker route

• Explore a capped expansion of the High Potential Individual (HPI) visa and increase the number of eligible global institutions

“The UK’s current immigration system includes targeted routes for individuals who promote growth to come to the UK, including as entrepreneurs through the Innovator Founder route, and leaders and future leaders in key fields, through routes including Global Talent and the High Potential Individual,” the paper noted.

Sharp rise in settlement figures

The white paper also discussed long-term settlement trends. According to the UK government, 162,000 people were granted settlement in 2024 — a 35% increase from 2023. This rise reflects earlier waves of migration between 2015 and 2019, with more people now becoming eligible for permanent residency and eventual citizenship.

“Settlement in the UK is a prerequisite for becoming a British citizen and brings lifelong benefits,” the document said. “Settlement is also an important step in integrating and contributing to local communities and the wider country.”

However, the share of migrants who go on to claim settlement varies by visa route. Only 18% of those who arrived on work visas between 2010 and 2018 had settled by 2023, compared to 75% of those on the family route.

Investor visa ideas echo global trends

If introduced, the new visa would reflect policies in other countries. In the US, President Donald Trump has revived investor-focused migration under a scheme allowing foreign nationals to gain residency — and a path to citizenship — by investing $5 million in US Treasury securities.

Meanwhile, the European Union has been encouraging member states to limit similar “golden visa” programs, which critics argue allow wealthy individuals to bypass normal immigration rules.