The Secretary of State for the Home Department, Priti Patel, has confirmed that the Tier 1 (Investor) visa category will be closed to all new applicants with immediate effect.
This closure means that it is no longer possible for individuals to make initial applications in this visa category. However, the Home Office has indicated that changes will be made to the UK's Innovator visa category to expand it to support investors in the UK. The expanded Innovator visa route is not expected to be launched until Autumn 2022. While details of these changes are not yet available, it is likely that investors will need to demonstrate a track record of investment activity overseas, and show a UK immigration strategy that will lead to job creation in the UK as well as other positive economic impacts.
For individuals who have already submitted valid Tier 1 (Investor) visas but who are awaiting the decision, the applications should be processed in line with the Immigration Rules in place on the date the application was submitted and paid for online.
For individuals who already hold a valid Tier 1 (Investor) visa, their immigration status will not be impacted by today's announcement however any application for Indefinite Leave to Remain as Tier 1 (Investor) will need to be submitted no later than 17 February 2028.