17 February 2022
Potential closure of UK Tier (1) Investor visa category
Numerous media organisations are citing Home Office sources who have stated that the UK Tier 1 (Investor) visa category may shortly be closed. An official Home Office statement is expected next week. There has been speculation of this type previously which did not crystallise in the closure of the scheme. It may be diplomatic manoeuvring in the context of the possible Russian invasion of Ukraine.
Our view is that a full closure of the visa category would be like using a sledgehammer to crack a nut. Perfectly sensible due diligence requirements have been in place since 2015 and these could potentially be enhanced further.
If the visa category is closed it is not clear yet what transitional provisions will be put in place or how the Home Office will treat those already granted Tier 1 (Investor) visas. It is a corner stone of public law that new rules should not be applied retrospectively to visas already granted and we are ready to seek judicial remedy if required.
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