According to a study by Citizenship by Investment firm Astons, a Tier 1 UK investment visa will receive more attention in 2021 than in the previous three years.
The number of “golden visas” issued may increase by 8.4%. Prian.ru writes about this with reference to the International Adviser edition.
According to analysts at Astons, the UK investment visa situation is set to change dramatically after falling sharply over the past three years.
In the second half of 2020, investors began to show increased interest in the Tier 1 program.
Astons estimates the trend will “soften” as 96 visas were issued to key applicants in the third quarter of 2020 with an investment value of $ 265 million.
As a result, the quarterly growth was 317.4%, and the number of visas issued to dependents increased by 330%.
The company believes that in 2021 the number of issued “golden visas” will increase by 8.4%, and the volume of investments will amount to $ 710 million.
This is also facilitated by the fact that house prices in the country are falling, although sales in 2020 have decreased.
Astons Managing Director Artur Sargsyan emphasized: “Brexit certainly remains a problem, and the vast majority of UK-related inquiries that we currently receive are about leaving the country, not entering it.
Nevertheless, the “foam” around this issue has now somewhat subsided, and this should give some confidence to those who still intend to invest in Tier1. ”
Overall, the Brexit referendum boosted demand for golden visas.
Thus, the total number of applications increased by 61.3% in 2017 compared to the previous year, and investments almost doubled and amounted to $ 960 million compared to $ 600 million in 2016.
But growth slowed in 2018: the number of applications grew by only 7.4%.
Since 2018, the demand for investment visas has been “in free fall.”
Astons figures show there was a 4.3% annual decline in 2019 and 54.4% decline in the first three quarters of 2020, likely due to the covid-19 pandemic. But business analysts believe the decline will be 34% for the entire 2020.