Why those representing the rich need to be aware of the UK Investor Visa.
The UK has always pioneered in providing services to High Net Worth Individuals based in the UK. There were, invariably more than enough UK based clients with sufficient funds to support this specialised industry. Since the financial crisis however, there seem to be more service providers fewer and fewer clients.
The UK has instituted an Investor Visa which creates a fantastic opportunity for those businesses servicing the higher end of the market, including financial advisors, property agents, luxury retail and security consultants.
By providing the chance to live in the UK, the government has successfully attracted new Investors to its shores. Businesses need to capture this steady stream of new qualified clients.
How does the investor visa work?
The visa allows wealthy nationals to relocate to the UK with their families if they invest in UK government bonds, shares or private companies. Depending on their level of investment, they can obtain indefinite stay in the UK and sell their investment for 2 years.
The initial amount that needs to be shown is 1 million GBP, moving up to 10 million GBP if the applicant wants to obtain permanent residency faster.
The advantages are:
(a) They can bring their spouses and children with them;
(b) They do not need to show any additional language skills;
(c) They have prioritised visa processing times;
(d) They are not required to reveal the source of the funds if they hold them in an account for more than 90 days.
The visa is popular with countries where English is not widely spoken. Russian and CIS countries, China and the Arab speaking world make up a large proportion the applicants for this visa.
Through careful education of potential clients and high net worth circuits in the home country, rich pickings are to be had when UK businesses can sell a dream of relocation to the UK worldwide.
Amir Zaidi specialises in Investor Visas for Westkin Associates.
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