Lowered number of Tier 1 Investor Visa Applications: Q4 2019
We are writing to report some aggregated data on the UK Tier 1 Investor Visa applications. Here are some facts for your consideration.
In Q4 2019, the programme included 60 main applications. That’s higher than in Q3 with 51 applications, yet far behind Q2 with 124. Also, that’s a sharp drop compared to 2018 (95 in Q3 and 92 in Q4).
In Q4 last year, mainland China nationals led the game with 12 applicants, closely followed by Hong Kong with 9 applicants. Citizens of Russia, Saudi Arabia and India also made it to the top 5.
Background factors
Coronavirus (COVID-19)
The virus may have affected last year’s figures and we’re observing its impact on further developments. In the last days of February 2020, we’ve witnessed the DOW drop 1,000 points on Monday and 800 points on Tuesday. The FTSE plummeted by over 3 percent. Experts believe air travel, car manufacturing and high tech will be among the most affected sectors.
The Coronavirus death toll has now surpassed 2,800 lives globally - with an overall of 82,186
cases registered (as of February 27, 2020).
Brexit
Following the Conservative win in the elections, PM Boris Johnson got the deal approved in Parliament so the country launched the final Brexit process on January 31, 2020, with a transition period agreed until the end of this year.
GBP rate
At the end of last autumn, EUR traded at 1.172 against GBP, now it has settled at 1.184. This might seem a moderate rise, yet with the looming end of the transition period and the economic repercussions, we may see even more fluctuations in the near future.
Astons is a leading global immigration advisory firm with offices in London, Beijing, Moscow, Dubai and Limassol (Republic of Cyprus) and offers residency & citizenship investment solutions worldwide including UK, Turkey, Vanuatu, EU & the Caribbean.
For further information or to discuss your personal circumstances in a private consultation, please contact Astons at info@astons.com or call +44 207 292 2977
