Last week two events dominated the EU In/Out Campaign. One involved Emily Wood, a music producer from Poole, who furiously revealed her mother had been shunted down the housing list by officials who prioritise immigrants, demanding: “Where are we going to put them all?”
The second development which was hijacked by Leave campaigners was the release of figures from the Office of National Statistics which showed net migration to the UK rose to 333,000 in 2015, the second highest figure on record.
Immigration has been the most hotly debated topic surrounding the EU Referendum, which is to be held in less than a month.
In a passionate response to Miss Wood, Alex Salmond, former leader of the Scottish National Party, stated, “If we have a housing shortage we should build more houses, not kick people out of the country”.
Responding to the news that net migration has increased, Leave supporter and London Mayor, Boris Johnson, stepped up his bitter war of words with Prime Minister David Cameron, stating that the Government was cynical to claim it could control immigration while inside the EU and the new figures exposed the “scandal” of Cameron’s broken election pledge to slash numbers.
With the pressure mounting, it can be hard to see the wood from the trees when it comes to viewing both sides of the In/Out Referendum arguments. Here is our best shot at laying down each sides’ claims in an objective manner, so you can make up your own mind on how to use your vote on 23rd June 2016.
How will the vote go? Polls show support for remaining in the EU is ahead….but only just.
We will keep you posted.
Based in Birmingham and London, UK Migration Lawyers is one of Britain’s premiere immigration law firms. If you have any concerns or questions about how the EU Referendum could affect your immigration status, please phone our office on 0121 777 7715.
In December 2017, the Tier 1 Investor Visa will be withdrawn as a means to enter and reside in the UK. This will be a blow, not only to foreign investors who want to extend their portfolio to the UK market, but for UK businesses who rely on foreign capital to grow.
The Investor Visa, as it is now, provides a wealth of advantages to applicants who have £2 million to invest in Britain’s stable and robust markets. Unique benefits include:
For high-net-worth individuals, the Tier 1 Investor Visa is the most flexible, expedient way to conduct business in the UK.
Fear of allowing in those whose wealth was obtained by dubious means seems to be the driving factor for ending the Investor route, along with the visa developing a reputation as being a way for the super-rich to ‘buy a European passport’.
In 2014, the Investor Visa was subjected to significant reform; the most important being the requirement of £1 million in investment funds being raised to £2 million.
Other changes included:
These reforms saw a substantial drop in the number of high-net-worth individuals applying for an Investor Visa, and we believe that there are enough safeguards in place to prevent ‘dirty money’ coming into the UK via the Investor route.
A vast majority of enquiries we receive regarding the Investor Visa are from people who see opportunities, not just to expand their investment portfolio, but to take advantage of the first-class education, cultural opportunities and stable political and economic environment that the UK is renowned for.
Wealth managers, advisors and other high-net-worth intermediaries need to act now and advise their clients on the withdrawal of the Investor Visa in a mere 19 months’ time.
The required £2 million may take some time to accrue as all funds must be owned and not borrowed. Clients also need to be advised that at the time of application these funds must have been in the applicant’s account for 90 days which brings the deadline much closer. Any investigations by the UK Border Agency may also prolong the process.
The withdrawal of the Tier 1 Investor Visa has raised a sense of urgency among investors. The downturn in emerging markets has forced high-net-worth individuals to return to the more stable UK and US markets. Britain is predicted to become the world’s fourth largest economy over the next two decades, and the European Union generates a GDP of around €14.3 trillion (2014). This figures, taken together with the advantages a Tier 1 Investor Visa has to offer applicants, means advisors should be informing their clients of the changes as soon as possible. This will allow time for successful applications to be made.
The amount of capital involved and the complexities of the UK immigration system make it imperative that experienced legal advice is sought before applying for an Investor Visa. At UK Migration Lawyers, we have years of experience guiding high-net-worth individuals through the application process. We also work with wealth managers, real-estate advisors and other professionals who can assist with school placements and finding domestic help, both in and outside London.
To make an appointment or enquire further phone our office on 0121 777 7715.