More than half of the UK's $2.8mn 'golden visas' go to China

A huge proportion of ‘golden visas’ given out by the UK are going to China, recent figures have illustrated. This could mean that Brexit is less of an issue for Chinese investors than first thought.

The figures were reported by the Financial Times on Wednesday, citing LJ Partnership, a wealth firm, as the source of the data.

The UK gives citizens from overseas the change to gain a ‘golden visa’ in exchange for investing heavily in the country, a controversial move which some say allows the wealthy to ‘buy’ citizenship. However it’s in no doubt that this is bringing capital into the UK economy at a time of economic uncertainty.

See also:

China promises to beef up UK imports

Feature: WeWork brings collaborative working space to Asia

Trans Pacific Partnership: could the UK look to Asia after Brexit?

According to Verdict, a total of $28bn was invested into the UK economy by Chinese investors last year.

Investors get the right to live in the UK in exchange for assets and investments totalling £2mn ($2.8mn), and then after three years a further investment is necessary.

In 2017, 355 golden visas were issued, with 116 (56%) of these going to investors from mainland China. This does not include Chinese territories like Hong Kong which have also invested in the UK.

Investment of £5mn ($7mn) or more after three years gives people the right to settle permanently in the UK, while they can apply after just two years of residence if they invest £10mn ($14.1mn).

At first, China was wary of Brexit, but according to Charles Filmer of LJ Partnership, Brexit is becoming somewhat of a non-issue for Chinese investors with a UK interest.


Featured Articles

Create C-suite space for the Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 AI predictions for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

Welcome to the new breed of private members' clubs

The pandemic has given birth to a new breed of private members’ clubs where work and play merge, membership and spaces are curated, and community matters

Welcome to the New Age of the CISO

Leadership & Strategy

Making the UAE the world’s strongest digital fortress


World Mental Health Day – 10 apps to improve wellbeing

Leadership & Strategy