New Tier 1 Investor Visa Immigration Statistics Released
Yesterday the Home Office and the Office for National Statistics (ONS) released the immigration statistics for the second quarter of 2018. The statistics included data on the number of Tier 1 Investor visa applications approved in the period March to June 2018.
Tier 1 Investor Visa Statistics
An analysis of the statistics by Shard Capital and Guardian Stockbrokers shows that 92 Tier 1 Investor visas were granted during the second quarter of this year. This represented a slight decline from the 96 in the previous quarter, but the number of dependents (143) did not fall despite the January rule change requiring dependents to satisfy a residence requirement.
Chinese applicants (32) accounted for the lion share of applicants at c35%. There was also an increase in Russian applicants (13) on a quarter by quarter basis, despite the introduction of new sanctions. Behind China and Russia, Australia (5), Hong Kong (4) and the United States (4) also came within the top 5 countries of origin for Tier 1 Investor visa applicants.
The statistics from ONS and the analysis by Shard Capital also shows that Turkish applicants (2) have almost disappeared given the devaluation of the Lira. However, Guardian Stockbrokers observe that it remains to be seen how this will affect future Turkish applicants. There is the possibility that those with the financial means contemplating a move may be inclined to accelerate their decision, fearful of a worsening lira over the coming months.
Overall, year on year, the first half of 2018 saw a 17% increase in UK Investor Visa applicants. It is clear that the UK remains an attractive destination among HNW migrants despite the unknown outcome of Brexit negotiations.
Contact our Investor Visa Lawyers
With over 20 years experience, Richmond Chambers is widely recognised as one of the UK’s leading immigration practices for Tier 1 Investors. For advice and assistance relocating to the UK under the Tier 1 Investor visa programme, contact our investment immigration specialists on 0203 617 9173 or via our enquiry form below.