Restrictions as a result of the Covid-19 outbreak have made it difficult for European high net worth individuals to travel to the UK. Although the number of investor visa applications declined in 2020, Chetal Patel, partner at Bates Wells, predicts that the end of the Brexit transition period on 31 December could cause applications to rise throughout 2021 as European high net worth individuals struggle to enter the UK under freedom of movement.
Chetal told Wealth Adviser: “The reduction in investment from wealthy individuals overseas comes as bad news for UK businesses who need a serious boost to inward investment.
“Investor visas are a popular choice amongst UHNWs and HNWs as they give them an opportunity to invest in a UK Business, which may be a family business, and their children a ticket into the UK’s education system.
“The end of free movement will mean European HNWs will need to carefully consider their options and those of their family members for living and working in the UK. Investor visas could be an attractive solution as a golden ticket to the UK.”
Chetal advises individuals on securing leave to enter and remain in the UK under the Tier 1 Exceptional Talent/Promise, Entrepreneur and Investor Point Based System sub-categories. Her clients operate in a number of sectors including charity, creative, education, finance, healthcare and media. The nature of Chetal’s work has also meant that she has plenty of experience advising a broad range of clients from high net worth individuals and start-up companies to multinational companies. If you’d like to talk to Chetal with regard to her thoughts on investor visas, please contact her here.
This information is necessarily of a general nature and doesn’t constitute legal advice. This is not a substitute for formal legal advice, given in the context of full information under an engagement with Bates Wells.
All content on this page is correct as of January 14, 2021.