UK Government Split Over New Golden Visa Scheme to Attract Super-Rich Residents

What is being proposed

Senior government figures are reported to be divided over a proposal to create a new residence-by-investment scheme for ultra-high-net-worth individuals. The proposal would allow foreign nationals to obtain a UK visa in exchange for a qualifying investment, potentially in UK government bonds, businesses or other approved assets. No formal policy paper or announcement has been published.

The internal disagreement centres on whether the economic and tax revenue benefits of attracting wealthy residents -- particularly given the abolition of the non-dom regime from April 2025 -- outweigh the political and reputational risks associated with investment-for-residency schemes. Critics within government point to the money laundering concerns that led to the closure of the previous Tier 1 Investor visa in February 2022, when the Home Office suspended it pending a review that found significant compliance failures.

Background: the Tier 1 Investor visa history

The Tier 1 Investor visa operated from 2008 to 2022, allowing individuals to obtain UK residency in exchange for a minimum investment of £2 million in UK government bonds, share capital or loan capital in active UK companies. Higher investment thresholds (£5 million and £10 million) allowed faster settlement. The visa was closed in February 2022 after a Home Office review found the route had been used by individuals with links to corruption and criminality, with insufficient due diligence on the source of funds.

A National Audit Office report found that the Home Office had failed to conduct adequate checks on thousands of Tier 1 Investor applicants. The Intelligence and Security Committee also raised concerns about the national security implications of the scheme. The closure was broadly welcomed by transparency organisations but criticised by some in the investment and property sectors who argued it removed a legitimate pathway for internationally mobile capital.

The non-dom abolition context

The abolition of the non-domicile tax regime from April 2025 removed a significant tax advantage that had made the UK attractive to wealthy foreign nationals. Under the non-dom rules, individuals could elect to pay UK tax only on UK income and gains, with foreign income and gains taxed only if remitted to the UK. The replacement regime -- a four-year foreign income and gains exemption for new arrivals -- is more limited and time-bound. Government estimates suggested the abolition would raise approximately £2.7 billion per year, though independent analysts noted significant behavioural uncertainty around whether wealthy non-doms would leave the UK or restructure their affairs.

Current routes for investors and entrepreneurs

With the Tier 1 Investor visa closed and no replacement announced, internationally mobile investors and entrepreneurs who want to live and work in the UK currently have limited dedicated pathways. The Global Talent visa is available to leaders and potential leaders in academia, research, arts, culture and digital technology, but is not a general investor route. The Innovator Founder visa is for experienced businesspeople seeking to establish a business in the UK, requiring endorsement from an approved body. Neither is equivalent to the former Tier 1 Investor route in terms of the breadth of qualifying investment types or the absence of an active business requirement.

Frequently asked questions

Is the UK golden visa scheme confirmed?

No. As of 27 June 2026 no formal announcement has been made. The Financial Times reports the proposal is under internal government discussion with ministers divided on the issue. The previous Tier 1 Investor visa was closed in February 2022 and no replacement has been introduced.

Why was the Tier 1 Investor visa closed?

The Home Office closed the Tier 1 Investor visa in February 2022 following a review that found significant compliance failures, including insufficient due diligence on the source of funds for thousands of applicants. The National Audit Office and Intelligence and Security Committee both raised concerns about money laundering risks and national security implications.

How does the abolition of non-dom status affect wealthy foreign nationals in the UK?

From April 2025, the non-domicile regime was abolished. New arrivals to the UK can benefit from a four-year foreign income and gains exemption under the replacement regime, but this is more limited than the former non-dom election. After four years, foreign nationals resident in the UK are taxed on worldwide income and gains in the same way as UK-domiciled individuals.

What visa options exist for wealthy investors wanting to live in the UK?

The main current routes are the Global Talent visa (for leaders in specific sectors including technology, arts and academia) and the Innovator Founder visa (for experienced entrepreneurs setting up a new business, requiring endorsement). Neither is a direct equivalent to the former Tier 1 Investor visa. High-net-worth individuals may also qualify under other routes depending on their circumstances.

When might a new UK investor visa be announced?

No timeline has been indicated. Internal government disagreement reported by the FT suggests any formal proposal is not imminent. If the government proceeds, a formal consultation or immigration policy statement would precede any legislative change. Monitor gov.uk and Home Office announcements for updates.