Living in the UK will cost £ 2 million

27.11.2012

If we do not take into account the education and work for hire, the only way to obtain a visa to stay in the UK is business immigration. For this visa a lot of Russian citizens are living currently in the UK.

December 13, 2012 the UK authorities are planning to tighten the requirements for obtaining a visa for investors. This change will not affect those who invest their own money in the British economy: they are, as before, must use a minimum of £ 1 million (or its equivalent in any currency) to buy British assets. Those who borrow money should expect major changes. Earlier getting of visa was as follows: a foreign investor had to confirm the presence of £ 2 million, which could be in any country, and then a British bank issued for investor a loan of £ 1 million, while investing these funds in the assets of the UK on behalf of the investor. Thus, the investor paid the bank interest on the loan; £ 1 million was invested in the British papers, which were pledged to the bank. Now none of the banks the UK will be entitled to take a pledge on the loan investments in securities. Thus, an applicant for a visa to Britain will must lay the existing assets on the loan in the British bank, and then have the funds to invest in securities of UK issuers. And the pledged assets under the investment loan (e.g., real estate) will have to be in the UK or in Europe.

On the basis of: http://www.ukba.homeoffice.gov.uk/sitecontent/newsarticles/2012/november/35-rules

Expert’s

Expert’s opinion

"The UK has always been "not so cheap" country. However, Albion attracted and still attracts our compatriots. Regularly we hear about another "Berezovsky", who settled in London. And this is justified: the monarchy, Oxford, gentlemen and English tea had formed in the global consciousness, as a sign of stability and prosperity.

Well, in England decided that it is enough Russians living in the country especially as the amount of £ 1 million does not frighten them so the bar can be doubled. We will see in the coming years if the flow of willing people to come to Britain with a residence permit stays at the same level."

Irina Lomakina ( The Director of Moscow office)