So-called ‘Golden Visa’ or investor visa programmes are immigration routes offered by some countries which offer the possibility of acquiring residency, or in some cases citizenship, through investment. Well known examples of countries that do offer such routes include the United Arab Emirates and Malta. Such routes are often controversial - Malta’s programme, for example, has recently been ruled by the European Court of Justice to be contrary to European law, as it represents ‘commercialisation of the grant of the nationality of a member state’, and thereby also of EU citizenship. Donald Trump, meanwhile, recently announced the planned launch of a ‘gold card’ visa, which would result in residency for investments of US$5 million.

The UK previously offered a route called the Tier 1 Investor visa – this route was available to applicants who most recently could provide evidence of funds of at least £2 million to invest in UK business, and led to settlement. Often referred to as the golden visa UK, the route was closed to new applicants on 17 February 2022 due security concerns including fears that applicants were investing funds that were acquired illegally, and associated with wider corruption.

Those who already leave on the route are currently still able to extend their leave in this category (until 17 February 2026), or apply to settle (until 17 February 2028) if they are eligible.

For those looking to move to the UK, or remain the country, and who have funds to invest in UK businesses, other options do exist. One such is the Innovator Founder route (previously the Innovator Route).

This route is designed for those who wish to establish a business in the UK, and can show that their business idea is:

·       A new business, so not already trading;

·       Innovative, so unlike companies already trading in  this country;

·       Viable, so has potential for growth; and

·       Scalable, so an applicant must have plans for job creation and market expansion

The applicant will also need to demonstrate they have sufficient funds at their disposal to invest in the business, although there is no set minimum investment, and that these are from a legitimate source.

To apply for the Innovator Founder visa, an applicant must first obtain a letter of endorsement from an endorsing body, of which there are currently 4 who issue endorsements for Innovator Founder applications; the endorsing body will assess whether the applicant satisfies the points noted above, and if so will issue the required letter. The applicant can then make the visa application.

The applicant must also satisfy other requirements of the visa application, including suitability, English Language, and a financial requirement if they have not already been resident in the UK for 12 months before the date of application and are applying in country.

The Innovator Founder route can lead to settlement after 3 years if the applicant satisfies the eligibility requirements for this.

Other routes for those looking to start up a UK business include the Expansion Worker visa, which is an option for those looking to establish a UK presence for a company that already has an existing trading presence overseas. Rules were recently changed and no longer require the UK entity to be a wholly-owned branch or subsidiary of the overseas business.

If you would like to learn more about the Innovator Founder or Expansion Worker visa, call Latitude Law today on 0300 131 6767 or fill out our enquiry form, and we will get straight back to you. Let our legal experts take the uncertainty out of the Innovator Founder visa application, so you can start your successful journey towards residency in the UK today.