High Net Worth Immigration Options – Introduction
The UK has long been a premier destination for internationally mobile individuals due to its stability, legal system, educational opportunities, and cosmopolitan lifestyle.
However, recent policy changes have reshaped the immigration landscape, necessitating careful planning for those considering relocating to the UK.
Shifts in UK Policy
Closure of the Tier 1 (Investor) Route
In February 2022, the UK closed the Tier 1 (Investor) route, significantly impacting high-net-worth migration.
The focus has shifted towards visa categories that require active engagement with UK businesses and often need endorsement from third-party organizations.
Recent Tax Changes for Non-Doms
On 6 March 2024, the UK Chancellor introduced major tax regime changes affecting UK-resident, non-UK domiciled individuals.
These changes will influence decisions for those already in the UK or considering a move, highlighting the importance of integrated tax and immigration planning to achieve long-term residency or citizenship goals.
Current UK Visa Options
Skilled Worker Visa
This popular route allows UK companies with a Sponsor Licence to employ non-British or non-Irish nationals. Post-Brexit changes have increased flexibility and accessibility for this visa type, facilitating the employment of international staff.
Global Talent and Innovator Founder Visas
- The Global Talent visa caters to leading individuals in specific fields who can gain endorsement to work in the UK in any relevant role.
- – The Innovator Founder visa, revamped in 2023, is designed for those establishing innovative businesses in the UK. It now features relaxed fund requirements and allows additional employment outside the new business under certain conditions.
Both routes offer accelerated paths to indefinite leave to remain (ILR) after three years, unlike the standard five-year requirement.
Family and Ancestry Visas
Visas are also available for those with a family connection to the UK, including partners of British citizens or permanent residents and individuals with UK ancestry.
Global Residency and Citizenship Options for High-Net-Worth Individuals
European Options
- Italy and Portugal offer residency through investment with benefits like minimal physical presence requirements and favorable tax regimes.
- Malta provides a pathway to EU citizenship through investment, requiring property purchase or rental and a substantial donation to national funds.
- Greece also has its own golden visa program,
- Monaco offers residency for individuals proving sufficient financial resources, with specific banking requirements.
US Investor Visas:
- The E-2 Treaty Investor Visa allows residents from treaty countries to start and operate a business in the US.
- The EB-5 Immigrant Investor Visa Program offers a green card for investments that create jobs in the US, with varying investment thresholds depending on the location.
Hong Kong Capital Investment Entrant Scheme (CIES)
This newly launched program allows significant investment in approved Hong Kong assets, leading to residency and potential permanent status after seven years.
Caribbean Citizenship Programs
Programs in countries like Antigua and Barbuda, Grenada, and St. Kitts and Nevis offer fast-track citizenship through investment, with benefits including visa-free travel to over 145 countries.
High Net Worth Immigration Options – Conclusion
For clients considering international relocation, it’s crucial to navigate the complex interplay of immigration laws, tax implications, and family considerations.
With expert guidance from specialized immigration and tax advisors, clients can make informed decisions about their relocation strategies, ensuring compliance and optimizing their relocation outcomes.
Final thoughts
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