UNITED KINGDOM: Attracting Foreign Investors

by Julie Pearl, ABIL Lawyer
Pearl Law Group Global Immigration NewsFlash

Effective April 6, 2011, the U.K. will implement major changes to settlement (permanent residence) procedures and requirements for foreign investors and entrepreneurs. Under the new rules, some new investors and individuals already in the U.K. under the investor category will be able to fast-track their settlement cases as follows:

• Foreign nationals making investments of £10 million or more will be eligible for settlement after 2 years;
• Foreign nationals making investments of £5 million–<£10 million will be eligible for settlement after 3 years;
• Foreign nationals making investments of £1 million–<£5 million will be eligible for settlement after 5 years (no change).

The changes will be applied retrospectively to current cases. For example, a foreign national who made a qualifying investment in the U.K. of £10 million on April 5, 2009 would be able to apply for settlement as early as April 6, 2011 (vs. April 6, 2014 under current rules). Additionally, in response to public feedback about residency requirements, investors applying for settlement are now allowed to travel outside the U.K. for up to 180 days in any 12 month period.

However, to acquire British Citizenship, foreign investors will still be required to complete a period of five years residence in the U.K., one of which must have been as a settled person.