The Home Office, yesterday, released their latest immigration statistics for the second quarter of 2018. Following on from our earlier post on the popularity of the Tier 1 (Investor) route recently and in the first quarter of this year, we look at whether the trend is continuing throughout 2018. This article will also highlight the recent technical changes for Tier 1 (Investor) applicants that came in to force on 06 July 2018.
The latest statistics reveal that a total of 92 Tier 1 (Investor) visas were granted in the second quarter of 2018, down 4% from the 96 that were issued in Q1. However, this figure still represents an 8% increase in the number of visas that were granted during the same period last year and a year-on-year increase for the first half of 2018 of 17.5%.
Continuing the trend from previous releases, Chinese applicants represented a large proportion of those applying under the investor scheme at 35%, followed by Russian applicants don’t seem to be put off by any of the recent sanctions and public outcry following the Salisbury poisoning.
As we noted in our earlier post the changes to the dependant requirements did not put applicants off in the Q1 of 2018, and it seems that their dependants are still equally as keen to come to the UK. There were 143 dependant visas issued in Q2 of 2018, which represents a total of 301 dependant visas being granted in 2018 so far. This brings a year-on-year increase of 41%. Clearly, the UK investor programme remains attractive for high net worth migrants.
Changes to the Tier 1 (Investor) route
It is also worth nothing the recent technical changes that came in to force with the Statement of Changes in Immigration Rules (HC1154) on 06 July 2018. The accompanying guidance explains the changes:
7.11. The Tier 1 (Investor) category is for high net worth individuals making an investment of at least £2 million in the UK. The following changes are being made to this category:
Our solicitors regularly consult with Tier 1 (Investor) applicants looking for assistance with investing and immigrating to the UK. If you would like further assistance with your Tier 1 (Investor) application, please contact us for comprehensive, fully up-to-date advice.
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