The UK has again bounced back as confidence rises in investment with an increase in the number of Tier 1 Investor Visa applications for the UK which totalled 85 for the first quarter of 2017. The turnaround started in the last quarter of 2016 and is continuing into this year.
There has been a return from Russian applicants (13) behind China who top the table (26). Russia was followed by Turkey (8), United States (6) and Canada (6).
Also encouraging is the data for the period post 12 months after the Brexit referendum which shows an increase of some 68% in Tier 1 Investor Visa applications compared to the 12 month preceding it.
The above is good news but comparatively we are still some way off the record number of Tier 1 applicants before Nov 2014 (average of 300 per quarter) when the minimum investment was raised from £1m to £2m. I believe that it will take a while before we get back to those numbers. If the UK Government wants to see a rapid increase in foreign investment from Tier 1 Investor applicants then it should consider lowering the residency requirement from 6 months to 3 months.
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