There are various reasons for Tier 1 Investors looking to move to the UK. It may be because of the geopolitical situation in their home country, for the economic stability or for the general quality of life.
The Wealth Report 2015 prepared by Knight and Frank released today reveals that London remains number 1 of the 40 most important cities to UHNWIs in 2015.
London has the highest concentration of UHNWI’s in the world and the UK as a whole has had the biggest influx of HNWI’s in the past ten years.
The report also shows an increase in the number of HNWI’s globally and identifies percentage increases in UHNIW’s per region.
Given the increase in the number of HNWI’s and London as their chosen destination to lay down roots it will inevitably result in an increase in Tier 1 Investors visas.
Although the number of Tier 1 Investor visas has not yet gone into the thousands the number has steadily increased over the last few years and 2015 is likely to be the year where the number of Tier 1 investor visas being granted will go above 1000.
In fact at Child and Child we have not seen a decline in the number of applicants since the November 2014 since the increase in the amount of investment from £1 to £2 million.
The Report states that 11% of African UHNWIs, 12% of the Asian UHNWI’s, 10% of Middle Eastern UHNIW’s and 33% of Russian/CIS UHNWI’s are considering emigrating.
Continued political and economic uncertainty in many parts of the world as well as tougher taxation rules seems to be the main driver.