NEWS & MEDIA
ONS (Office of National Statistics) update – Time to review existing portfolios (And the Americans are coming!)29 November 2018
During Q3 2018, a total of 96 Tier 1 Investor Visas were issued. What stood out this quarter was the rise in US applicants and some Indian nationals who normally prefer the Entrepreneur category. The trend in strong demand from Chinese applicants, and the decline in Russian applicants continued during the quarter. Detailed breakdown below.
Commenting on the figures, Head of Investor Visa at Shard Capital Farzin Yazdi said:
“The strong trend in Investor Visa applicants continued during the third quarter this year, despite the uncertainty with Brexit. In many of my meetings with new applicants, Brexit rarely comes up in conversation. It is the value of the pound and the many benefits the UK has to offer which dominates.
Immigration lawyers and advisors – it is time to review your existing clients’ portfolios with regards to the statement of changes (HC1154), especially to ensure your clients’ investment has been maintained. Please review before the end of the next reporting period, which for most will be the end of this calendar year.
It has recently been highlighted that investment management for Tier 1 (Investor) Visa applicants is a specialist area, with a number of banks and wealth managers withdrawing from this space. Having the right systems and controls in place that are adaptable to the latest immigration rules is key in remaining compliant. Identifying if investments have been maintained is not always straightforward. But we are here to help!”