Can You Get UK Citizenship by Buying Property?

When Russian oligarchs purchased property in London, it often served as a path to residency and ultimately citizenship. However, the landscape changed dramatically in mid-2022. This piece will explore various paths to UK citizenship, focusing on the role of property investment.

Understanding the Current Context

As of now, purchasing a property does not directly lead to residency or citizenship. The route that was open previously involved investing 1 million to obtain a Tier-1 visa, which could lead to residency. However, this pathway is no longer available. The current methods for migration and settlement in the UK include the skilled worker and family routes.

Social Housing in the UK

Contrary to popular belief, not everyone in Britain is allocated a house at birth. In fact, immigrants are often given a house as part of their settlement, but they need to purchase their own property eventually. This approach distinguishes the UK from other countries where housing is routinely provided by the state.

Investment Visa Routes

While purchasing property does not directly lead to UK citizenship, there are other investment pathways that can be considered.

The Tier 1 Investor Visa and the Innovator Visa are two such routes. For the Tier 1 Investor Visa, applicants must invest a certain amount in an active and trading UK-registered company while committing to it throughout their residency. Investors might be eligible for the non-domiciled tax system, which can provide significant financial benefits.

The Innovator Visa requires an investment of at least 50,000 and evidence of active business management for a period of three years, following which a settlement in the UK is possible. It is crucial to carefully consider these investment options, especially if investing in a new business. Consulting a UK accountant can offer valuable insights to ensure the investment is sound.

Property Investment for Residency and Citizenship

If an individual wishes to buy property in the UK, a stepwise approach must be taken. First, one needs to secure an Investor Visa. This visa allows an individual to invest in UK property. For settlement and eventual citizenship, significant investments are required:

.deploying 2,000,000 for settlement in 5 years deploying 5,000,000 for settlement in 3 years deploying 10,000,000 for settlement in 2 years

The funds must be held in a UK banking account for a period of two years, or it must be proven that these funds are readily available. UK financial institutions are required to conduct thorough due diligence on all investors and provide a detailed report on this process.

Additional fees and charges will be applicable. The initial visa is granted for 3 years and 4 months, subject to extension. After meeting certain conditions for settlement, individuals and their dependents can apply for naturalization. The timeframes for naturalization vary depending on the settlement route:

5 years under the accelerated procedure 6 years after the first entry to the UK

Requirements and Steps

Beyond the financial and investment criteria, several requirements must be met:

Compliance with the English language criteria Pass the Life in the UK test Provide documentation of the investment and business activities

It is advisable to consult with legal and financial experts to navigate the complexities involved in these routes effectively.