The Migration Advisory Committee (“the MAC”) has published a Call for Evidence in relation to the economic impact of the Tier 1 (Investor) route.
The Minister for Immigration has asked the MAC to consider the following question and report back by 7 February 2014:
“At present, the minimum level of investment for the Investor category is £1 million but accelerated settlement status can be achieved by investing either £5 million or £10 million. Migrants may use money loaned to them by UK banks when making their investment. The MAC is asked to consider whether the investment thresholds are appropriate to deliver significant economic benefits for the UK, in particular the minimum £1 million threshold?”
The MAC will be gathering views and evidence to help it form its response to the Government’s question between now and 29 November 2013.
Interested parties are asked by the MAC to consider a number of questions including:
- What do you consider to be the net economic benefits to the UK of the Tier 1 (Investor) route?
- How might these benefits and/or costs be affected by the current financial thresholds for the Tier 1(Investor) route?
- What are the prime motivations for investing in the UK in preference to other countries?
- How might the economic benefits and/or costs of the Tier 1 (Investor) route be affected by the current forms of investment specified by the requirements of that route?
The MAC’s Call for Evidence document can be accessed here.
We act for a significant number of individuals who have applied or will be applying under the Tier 1 (Investor) route. We also frequently advise parents of children who are aged 12 and over and who are attending private school in the UK about this route because parents cannot accompany a child over 12 under the current visitor route. We will be preparing a detailed response to the MAC’s Call for Evidence.
For further information about our Tier 1 (Investor) service for individuals, please contact us.