Brexit, refers to "British" and "exit", is the impending withdrawal of the United Kingdom from the European Union (EU). The deal is supposed to be finished the Brexit negotiations before 29th March 2019. However, both parties are still under negotiating process and it seems that they cannot make it on time.
There are some consequences of the Brexit. According to news, it is expected that the United Kingdom has to pay EUR$350 billion to EU. If there are no re-negotiation deal for Brexit, UK has to face a much higher tariff rate upon trading with European countries. Having new terms of trade implies an increase on price level and other consequences which would affect businessmen and citizens' living standard. As a result, UK citizens are giving pressure on the topic of Brexit negotiations. A possible economic downturn will be estimated and thus, UK government is expected to launch some policies to facilitate the pressure. Theresa May, the prime minister of UK government, decided to reduce property tax. She aimed to be the country with the lowest property tax rate in G20. In addition, she has a 'backstop' plan that involves keeping the UK in a customs union with the EU until a permanent trade treaty is worked out.
But how would the Brexit affect UK immigration policy especially investment immigration?
UK immigration department is an individual department. Not only did they operate as normal, but also establishing new visa center to mainly handle T2 visa, T4 visa and so on. It shows that they are not affected by Brexit. With the more varieties of visa types, the applicants pool would be more wide spread and fairer.
Among all the popular countries for immigration, UK T1 visa is relatively easier. With GBP$2,000,000 on government bond investment, aged 18 years old or above and no criminal record, applicants could receive the T1 visa in 4-5 months' time. It is expected that the amount required will be increased. There's a rumor saying that the amount increased would be a lot. To Globevisa, we believe that it is undoubted to have the amount increased since they need more capital to cover up its spending. However, they would not increase a lot since it may turn down the incentives of some applicants and they may choose other countries to immigrate instead. To achieve both goals, UK would increase a little bit of the investment amount. We Globevisa suggest foreigners who are interested, to apply as soon as possible.
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