At the backdrop of political turmoil in the US and war raging across Eastern Europe and Middle East, the UK remains an attractive option for HNWI to reside. Majority of traditional UK visas expect the individual to be sponsored by someone: by educational institution to study, by employer to work, or by a partner to start family life. In the absence or unwillingness to be tied by sponsorship, people of independent means would expect to pay for their visas. However, with the UK Investor visa closed down to new applicants on 17 February 2022, many wealthy individuals have to consider their best options within existing UK immigration rules. If investment alone cannot provide a route to living in the UK, what can? The answer may lie in merit.
For these applicants, we step away from the focus on the size of the wealth and think about their profile holistically. Many HNWIs have either built their wealth through their professional career or have been enjoying the freedom to explore their potential with generational wealth. This means that Global Talent visa can be an attractive option for these individuals.
Global Talent is the only unsponsored visa that allows individuals to move and reside in the UK with flexibility of working, self-employment, or running their own venture. It allows bringing family members such as partner and children, can be extended, leads to settlement (ILR) and later citizenship. Although the route offers considerable flexibility, extension and settlement require evidence of UK earnings in the endorsed field. Settlement also requires compliance with the applicable residence and other requirements, while British citizenship is subject to a separate application and eligibility assessment.
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