High net worth Hong Kong citizens snatch £2 Million UK Investor Visas like Hotcakes
The number of Hong Kong applicants who moved to the UK through investment (Tier 1 visa) grew by nearly 100% in Q2 2019, the UK officials report. The demand is surging despite the £2 million investment requirement introduced by Home Office back in 2014.
Chinese applicants - mainlanders and Hong Kongers - received over 50% of the total 124 Tier 1 visas granted by the United Kingdom between April and June 2019.
For comparison’s sake, in 2018 the UK authorities issued 374 such visas. Almost half of them also went to affluent Chinese applicants.
Experts cite the plummeting rate of the British pound as one of the factors to the growth of Chinese investment immigration. For instance, Hong Kong applicants now have a chance to save up to 20 per cent for investment if calculated in Hong Kong dollars - compared to pre-Brexit referendum times.
Other factors may include the unstable political situation in Hong Kong as well as the traditionally high living and educational standards in the UK.
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