The world is full of instability, from growing political concerns, to the continuing Coronavirus pandemic. Investing and living in a secure place has never been so important. For a number of years, the UK has been the destination of choice for those wishing to relocate somewhere safe and invest overseas from BRIC countries, this year is no different.
In 2019, Tier 1 Investor Visa applications from BRIC countries made up 64% of the global aggregate with 239 successful applications. China, in particular, took the crown for the biggest surge doubling their amount of applications with 193 compared to the 59 applications made in 2015. The United Kingdom’s popularity among high net worth Chinese individuals is on the rise and has undoubtedly been the highest applicant for the scheme since 2016. The applications leapt by over a third in 2018, 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.
Moreover, Brexit has opened more opportunities for those from BRIC countries looking to establish themselves in the UK, to grab property in London at discounted prices. In the run-up to Brexit, housing prices in London have remained remarkably stable since 2018. Both residential and commercial property prices in the UK will remain attractive post Brexit. According to analysts at Lexology, a UK based legal analyst firm, Brexit will not affect the potential success for Tier 1 Investor Visa applicants.
It is fairly safe to assume that, Brexit and Coronavirus notwithstanding, we will see more Investors making calculated plays in the UK in many sectors, specifically the real estate and business markets in the times to come. This is why those that are not worried about Brexit and the pandemic, will see the appeal London and the UK still has to a global market.
In unstable times, investors should be looking to the UK for a safe haven, not only for economic reasons, but for safety reasons. Get in touch with our professionals today so we can help you.