Britain, post brexit vote is facing an uncertain future. The topic of immigration played a key role, influencing Britons to vote for Brexit. Independent reports, “Eventhough the cover of a British passport reads “European Union” at the top, when the UK leaves Europe, it ceases to be an EU passport”. This means the two words “European Union” will disappear in British passports in the future.
So, what will happen to the immigrant investor schemes post brexit?
With all the panic around among investors, first let us be very clear with this: The visa policy of U.K will not change, atleast until 2 years and thereafter likely will remain the same. It is very unlikely U.K will enforce visa restrictions on EU citizens against “freedom of movement”. Nothing will change much!
According to CNN Money, the value of british passport post brexit, will plunge from No #2 to 26th in world passport rankings. British expats living in Europe are desperate search for European passports in Ireland, Germany, France etc.
Mr. Balakrishnan, CEO of Best Citizenships (BC), says ” There has been a big spike in interests received for investor citizenship programs running in Cyprus (€ 2,500,000) and Malta (€ 900,000) from the rich living in UK. It takes about 3 months to get EU passport from Cyprus and about 12-15 months for Malta”.
Will Brexit cast end of investor visas?
Investors can still apply for UK investor program which requires about £ 2,000,000 and British passport possible only after 5 years of living. Following the Brexit, this program may be closed soon to curb immigration. The future Government may make it very difficult for wealthy migrants to enter UK imposing even stricter rules.
Mr. Balakrishnan, CEO of Best Citizenships (BC) further adds ” Why would anybody spend 2 million pounds in UK post brexit? Instead invest the same money in Cyprus, get EU passport in 3 months. You have access to both UK and 28 EU member states including Switzerland. People who are investing that kind of money, demand freedom of movement between UK and Europe, be it for a holiday with family or business trips. Caribbean passports from Dominica, Antigua, St Kitts are much cheaper solutions starting from $100,000, also gives access to UK and 26 EU schengen countries.”
There are increasing number of investors are looking towards investor programs in Europe, as it is much cheaper and provides easy path to EU citizenship. Currently, immigrant investor programs (IIP) running in Ireland and Portugal require about 500,000 euro investment in business or real estate.
The problem lots of foreign investors are facing is, if they invest in U.K IIP, they are given UK residency but are tied down in U.K and cant visit Europe without visa.
There were several news reports that anti immigrant sentiments are on the rise in UK, following the brexit vote. So we advise high net worth clients to stay away from applying for UK programs, until things settle down or apply for European programs.
About Best Citizenships
Best Citizenships (BC) is the worlds leading company, assisting very wealthy, talented and high net worth individuals with global residency and citizenship solutions in over 30 countries. The company has assisted famous personalities, large corporations and investment banks with immigration, business, investments and luxury real estate and has helped bringing in over millions of dollars through immigrant investor schemes currently running EU member states and Caribbean. The company currently aims a target of 1 billion euros in the next 5 years through investor schemes.
For more information on programs and private consultations, please visit our website http://best-citizenships.com
