A statement of changes published on 17 February 2022 has confirmed that, as of 4pm on 17 February 2022, the Tier 1 (Investor) visa route has been closed and new applications under the route will not be accepted unless an applicant has previously held leave as a Tier 1 (Investor) within 12 months preceding the date of the new application.
The UK Government has signalled that the decision to close the Tier 1 route is due to concerns regarding its vulnerability to exploitation by those seeking to transfer illegally obtained wealth to the UK or those participating in complex investment schemes in order to circumvent the investment requirements of the scheme, and that the level of economic benefit from the Tier 1 route does not mitigate these concerns.
Investors currently in the UK with permission as a Tier 1 (Investor) will be permitted to remain in accordance with the terms of their visa and will be eligible to apply to extend their visa, and for indefinite leave to remain, at the relevant times.
If you have any questions, please do not hesitate to be in touch with a member of our Immigration team.
Ceris Gardner
Partner
Ceris is a Partner at Maurice Turnor Gardner, and is recognised as an industry-leading expert by clients and peers alike.
