UK Immigrant Investor Program changes effective April 6th, 2011

The following changes to the Investor Immigration rules were laid with parliament on March 16th, 2011 with the aim of being implemented on April 6th, 2011.

Investors:

• Invest £10,000,000 and be eligible for settlement after 2 years
• Invest £ 5,000,000 and be eligible for settlement after 3 years
• Invest £ 1,000,000 and be eligible for settlement after 5 years

The investment criteria are likely to remain the same and 25% of the investment may be comprised of prescribed assets.

Dependents will still be granted leave inline with the Main Applicant as it is presently permitted and investors will be allowed up to 180 days outside of UK increased from the current 90 days within 12 months. This increase is a welcomed improvement by many who are unable to comply with the current 90 days allowance due to travel and business commitments.

Immigration Minister Damian Green said:

'Today I have sent out a clear message - the UK remains open for business and we want those who have the most to offer to come and settle here.

'Entrepreneurs and investors can play a major part in our economic recovery, and I want to do everything I can to ensure that Britain remains an attractive destination for them.

'Last year we issued far too few visas to those who wish to set up a business or invest in the UK - I intend to change that.'

We will be following the development closely over the coming month and will keep you updated. More information on the announcement can be found here on the UK Border Agency website, where you can also download the Statement of Policy: Changes to Tier 1 Points based system document.