The UK government is considering a new visa that grants three years of residency to individuals investing a minimum of £5 million ($6.7 million) in designated key sectors of the UK economy, excluding real estate, officials confirmed yesterday. The proposal was made public through a government consultation with wealth advisors on May 19, 2026 [1, 2, 3, 4].
Applicants will face stricter screening processes designed to reduce risks like money laundering, a government spokesperson said. After the initial three-year period, visa holders can apply for permanent residency in the UK [1, 2, 3, 4].
This invitation-only visa is intended to restore the UK's appeal to wealthy global investors after recent tax reforms increased burdens on non-domiciled individuals. Those reforms, enacted last year under Prime Minister Keir Starmer's government, prompted several billionaires—including John Fredriksen, Nassef Sawiris, and Guillaume Pousaz—to reduce ties or leave the UK [2, 3, 4].
The new scheme would replace the former Tier 1 investor visa, cancelled in February 2022 to limit influxes of Russian funds. The old visa required a £2 million investment and five years to permanent residency, while the new proposal raises the investment threshold to £5 million but shortens the path to residency to three years [4].
According to a UK government spokesperson, "We are doing everything we can to attract investment into the UK. The Global Talent Taskforce is evaluating all options to identify and draw in the best talent globally" [2]. The taskforce is actively reviewing measures aimed at attracting top global talent alongside investment [2, 3, 4].
The consultation period will continue as officials gather feedback to finalize the visa scheme's details and implementation timetable [1, 2, 3, 4].
