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February 18, 2022
2022-0300

United Kingdom closes Tier 1 Investor Route to new applicants with immediate effect

Effective February 17, the UK Government closed its Tier 1 Investor Route to new applicants until further notice. The closure does not impact individuals with leave to enter or remain in the UK or those who held Tier 1 Investor status in the 12 months preceding the filing of their Tier 1 Investor application. While new applications are no longer being accepted for processing, individuals who already have leave to enter or remain in the UK as Tier 1 Investor migrants will be able to apply: (1) to extend their stay, provided they file their extension application before 17 February 2026, (2) for entry clearance outside the UK if they held leave to enter or remain as a Tier 1 Investor migrant in the 12 months preceding the date of application, and (3) for indefinite leave to remain (permanent residence), provided they file their applications before 17 February 2028.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

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Full text of Tax Alert

 

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