The UK Investor Visa, which allows wealthy investors complying with the minimum investment requirements to obtain permanent residency in the UK as well as the right to apply for citizenship after just five years, saw a significant increase in demand from Chinese citizens in 2014.
Despite the new rule introduced by the Home Office that doubled the minimum investment requirement to £2 million, applications from Chinese nations jumped from 507 in 2013 to 1580 in 2104.
Despite the rise in number of applications from China, the overall success rate for Chinese nationals has fallen from 99% in 2013 to 85% in 2014. This drastic fall is attributed to applicants underestimating the extent of demand for the Investor Visa, and lack of professional advice and assistance.
Applications were rejected primarily due to poorly-prepared applications and lack of proof of completion of the mandatory investment requirements.
According to immigration experts, the popularity of the scheme is such that demand for such visas is likely to exceed the maximum limit imposed by the Government on the issue of these visas. This is why applicants are recommended to initiate the process at the earliest to avoid the impact of further restrictions to the investment or other qualification requirements that may be introduce by the Government.
Experts also recommend investors to finalize their investments even before applying for the UK Investor Visa in order to minimize delays and other complications during the application process.
Source: International AdviserGeneral Information: Contact us to receive more information about this article.
Interested Investors: Kindly complete the following form and we will contact you to discuss your global residency and citizenship investment options.