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The Tier 1 Investor Visa (otherwise known as a Golden Visa) was disbanded by the UK Government in February 2022. Its disbandment was in response to the increased risk of the scheme inviting illicit money into the UK’s economy. You can read more about the scheme’s closure here.
While the closure of the Tier 1 Investor Visa will help to protect the UK’s economy from being exploited, it means there are now fewer options for people who are looking to invest in the UK. However, if you are interested in investing in the UK and living in the country, there are several options that replaced the Tier 1 Investor Visa. These visa routes are listed below:
You can click on each of the visas listed to find out more, or find a brief summary of each of them below.
Skilled Worker Visa
The Skilled Worker Visa is the main visa route for foreign workers to live and work in the UK. To qualify, you must meet wage and skill-level requirements.
Innovator Visa
The Innovator Visa category is for experienced businesspeople who intend to set up or run a business in the UK. You will need to have at least £50,000 in funds, an innovative and viable business idea, and an endorsement from an eligible endorsing body.
Start-up Visa
The UK Start-up Visa route enables entrepreneurs to set up an innovative first business in the United Kingdom. Current guidance requires you to have at least £1270 in your bank account for 28 consecutive days before you apply. This visa also requires an endorsement, which can be tricky. However, we can assist you with endorsing bodies and can help you in obtaining an endorsement.Â
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If you have any questions, or want to book an appointment with one of our legal experts, contact Woodcock Law today. Call us on +44 (0)20 7712 1705 or email info@woodcocklaw.co.uk.
