Demand for UK golden visa set to rise
The UK Tier 1 investor visa is expected attract more attention this year, according to research by a citizenship-by-investment firm.
The UK Tier 1 investor visa is expected attract more attention this year, according to research by a citizenship-by-investment firm. If the estimates are correct, this would see an inversion in the current trend as the number of applications has significantly declined since 2018.
This research indicates Brexit referendum lifted demand for golden visas. Total applications increased by 61.3% in 2017 compared with the previous year, and investment nearly doubled at £700m ($960m, €792m), from the £434m of 2016.
But the surge slowed in 2018, with a 7.4% rise in applications leading to the issuance of 376 such visas and £752m in total investment value and since then, demand has been “in freefall”.
The firm’s figures show that 2019 saw a decrease of 4.3%, and a staggering 54.4% in the first three quarters of 2020, likely caused by the impact of the covid-19 pandemic.
The business however believes that stats for the whole of 2020 will likely record a 34% drop.
Source: International Adviser