Chancellor John Healey will not include a new investor visa in his first Budget on 28 October, according to a Financial Times report cited by IMI Daily. The decision shelves a £5 million route drawn up under former Prime Minister Keir Starmer.
The United Kingdom has had no dedicated investor visa since the Tier 1 (Investor) route closed to new applicants in February 2022. The planned successor would have required at least £5 million in funds run by the British Business Bank, aimed at innovative and growing British companies, with settlement possible once the full amount had been invested over five years.
According to the report, Treasury officials doubted the route would boost growth and the Home Office was not convinced. Business Secretary Jonathan Reynolds and Downing Street advisers are said to remain interested in other ways to attract wealthy people.
What it means
For now the United Kingdom has no residence route based on investment. Founders can use the Innovator Founder visa, and existing Tier 1 Investor visa holders are not affected; they have until February 2028 to apply for settlement.