SynopsisBritain is exploring a new investor visa for rich foreigners. Individuals investing at least five million pounds could get UK residency. This plan targets global entrepreneurs and businesses. The government aims for stricter checks than before. This initiative seeks to boost the UK economy. It offers a path to permanent residency.iStockThe UK is considering launching a new “invite-only” investor visa that would allow wealthy foreign nationals to secure residency by investing at least £5 million in the country, according to a Bloomberg report. Under the proposal, investors and entrepreneurs would receive three years of UK residency if they invest in sectors identified as priority areas by the government, including fast-growing British businesses. The programme could also provide a pathway to permanent residency after three years. According to Bloomberg report, government bodies recently circulated the proposal among wealth advisers to gather feedback on the plan. The proposed scheme would reportedly target “globally mobile individuals” and entrepreneurs who can contribute to the UK economy through strategic investments.Stricter checks planned under proposed visa route According to documents reviewed by Bloomberg, the route would include enhanced vetting measures and stricter background checks. The programme is being offered as a more tightly controlled alternative to the UK’s earlier investor visa route, which was scrapped in 2022. The earlier Tier 1 investor visa allowed wealthy individuals to obtain UK residency through large financial investments. The UK government ended the route citing concerns over misuse and security risks linked to illicit wealth. (Join our ETNRI WhatsApp channel for all the latest updates)...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now