The Migration Advisory Committee (MAC), the government’s official immigration policy advisor has recommended that under the Tier 1 (Investor) visas route, rich indviduals be allowed to acceletare their route to settlement in the UK.
In essence, the MAC is proposing an ‘auctioning’ of visas to the highest bidders with an accelerated route settlement of between two and five years depending on the level of investment. However, these invesments have often been in governement gilts or loans to the applicant’s own business – neither being beneficial to the British economy.
The MAC is proposing to auction to the wealthiest of bidders as the UK government consider it’s proposals to allow 100 “premium” UK visas per year. A reserve price of £2.5 million will ensure a minimum threshold of £2 million. The ideal scenario would be a £2.5 million bid – a £2 million investment by the applicant plus a £500,000 give donated to the UK governement.
From July 2008 to September 2013, the top five (5) nationalities granted the Tier 1 (Investor) visas were: – Russia (433), China (419), United States (96), Egypt (46) & India (44).
David Cameron told business leaders during a visit to China in December: “If you are investing in Britain, invest more. If you are thinking of investing in Britain, come and find us. You will get a warm welcome.”