The UK is debating a possible new investor visa that would require a £5 million stake in British businesses, exclude property, and operate on an invite-only basis. The proposal remains politically contested and has not been confirmed as government policy.
On June 10, the Cabinet Office reportedly held a closed-door meeting with tax advisers, economists, professional services firms, and anti-corruption groups. Attendees were sworn to secrecy.
The proposal being discussed would allow a qualifying investor to put £5 million — approximately US$6.6 million — into British businesses and potentially obtain a path to citizenship in as little as five years. Property investment would not qualify.
Business Secretary Peter Kyle is described as the main government supporter of the idea, framing it as part of a competition for global talent. The Home Office and Treasury are reportedly less convinced, with Treasury officials doubtful that the route would create meaningful growth. One insider reportedly said the plan “isn’t going anywhere.”
Farzin Yazdi, head of investor visa at Shard Capital, said he believes there is a 70% chance that the UK reintroduces an investor visa. He argued that a new route could be designed to address concerns while producing measurable economic impact.
How the proposed route differs from the old investor visa
The proposed £5 million threshold is not simply a revival of the old Tier 1 Investor visa.
The previous Tier 1 Investor visa launched in 2008 with a £1 million requirement. By the time it closed, the required investment had risen to £2 million. Under the old system, £5 million bought a faster route to settlement: three years instead of five.
The new proposal would reportedly make the former premium tier the entry point. Lower-cost options would be removed.
Qualifying investment would be directed toward priority parts of the UK economy, such as fast-growing British companies. Real estate would be excluded, addressing criticism that the old program helped fuel prime London property prices rather than productive investment.
The government has also signaled stronger due diligence to distinguish any new route from the closed Tier 1 program.
The £5 million invite-only concept had already surfaced in May, when documents describing such a route reached private wealth advisers through a unit under 10 Downing Street. The June meeting expanded the discussion to include critics.
Anti-corruption concerns
Anti-corruption groups oppose the idea. Susan Hawley of Spotlight on Corruption warned that a new investor route would be “reputationally disastrous for the UK.” Tax advisers at the meeting reportedly delivered a similar warning.
The UK closed the Tier 1 Investor route on February 17, 2022, shortly before Russia’s full-scale invasion of Ukraine. The route had faced years of criticism over concerns that it served as a channel for corrupt wealth. By closure, the Home Office had reportedly granted around 2,581 investor visas to Russian nationals.
Critics also question whether investor visas deliver the promised economic benefits. Madeleine Sumption of the Migration Observatory at the University of Oxford has found that such programs “often fail to deliver expected economic benefits.” The concern is that they may attract lifestyle migrants seeking schools and legal security while leaving much of their wealth abroad.
Australia has scrapped its equivalent program, while the EU has pushed member states to tighten investor migration schemes. Campaigners fear that a UK reopening could encourage a wider return of investor visa competition.
Support for a redesigned route
Not all outside input was hostile. The Institute for Public Policy Research, a think tank close to Labour, has worked with law firm Mishcon de Reya on a design intended to reduce risks. A report is expected soon.
Steven Bostock, a partner at Mishcon de Reya, said there has been consistent client demand for an investor visa since the previous scheme ended.
Supporters argue that the UK has left a policy gap by removing its dedicated investor route while still trying to attract high-net-worth individuals through other policy changes.
Wider UK wealth and migration context
The investor visa debate comes after major UK tax and migration changes.
The UK’s non-domiciled tax regime ended in April 2025 and was replaced by a four-year Foreign Income and Gains regime for new arrivals.
In November, ministers moved to fast-track settlement to three years for people earning £125,000 or more.
Neither measure created a dedicated route for investors.
The article says the end of the non-dom regime contributed to the departure of several billionaires, including John Fredriksen, Nassef Sawiris, and Guillaume Pousaz. Henley & Partners counted nearly 11,000 millionaires leaving the UK in 2024, with another 16,500 projected to leave by the end of 2025.
For now, the proposal remains alive but uncertain: serious enough to be discussed across government and industry, but contested enough that some officials already regard it as unlikely to proceed.
Source article: www.imidaily.com
