The United Kingdom’s popularity among high net worth Chinese individuals is on the rise and has undoubtably been the highest applicant for the Tier 1 Investor Visa scheme since 2016. The applications leapt by over a third last year, as the US delayed granting visas amid trade tensions between the two countries, according to a British private equity firm. The number of applications by individuals from China rose 32 per cent to 202 in the 12 months through September 2019, compared to 153 applications in the previous year, Growthdeck said.
171 of the applications were from mainland China, and the remaining 31 from were from Hong Kong, according to the UK Home Office.
The waiting time for Chinese applicants to become US residents through the EB-5 visa programme, which requires an investment of at least $500,000, can be as long as 16 years, according to the US State Department.