The UK government, under Prime Minister Keir Starmer, is preparing a new visa program aimed at attracting foreign investors willing to fund strategic industries such as artificial intelligence, clean energy, and life sciences. The initiative comes as the government seeks to cushion the economic impact of recent tax hikes and broader restrictions on work visas.
According to people familiar with the matter, ministers are considering a proposal to reopen investor visa pathways, this time tailored to those committing substantial capital to sectors deemed vital to the country’s future. The discussions remain in the early stages, and the proposal is subject to change. At the same time, the government is looking into streamlining existing visa routes for qualifying investors.
The proposal reflects the Starmer administration’s broader strategy to prioritize economic growth while responding to backlash over its plan to abolish the “non-domiciled” tax status that has long benefited wealthy foreign residents. That move, introduced by Chancellor Rachel Reeves in April, has reportedly led to an exodus of some of the UK’s richest individuals.
In parallel, the government is grappling with the consequences of increased National Insurance contributions announced in Reeves’s first budget last October. That policy has been linked to reduced hiring and weakened business confidence. Adding to these economic headwinds, the government this week unveiled a series of new restrictions on immigration.
Starmer has pledged to significantly reduce net migration, a stance that could prompt the Office for Budget Responsibility to lower its economic growth forecasts, given the agency typically views immigration as a positive driver of productivity and output. In a white paper released this week, the government outlined its future immigration strategy, stating its aim to attract “the best talent, entrepreneurialism, and investment to the UK.” The document also emphasized the need for faster, more efficient pathways for skilled individuals in industries of strategic importance.
A government official noted that the Home Office, Treasury, and Department for Business and Trade are aligned in their view that economic growth depends on bringing in top-tier talent.
The Home Office declined to comment on the proposal, while the Treasury did not respond to a request for comment.
Despite concerns about potential abuses seen under the previous “golden visa” program, the investor visa plan would signal a shift in direction from the European Union, which is moving to curb migration incentives for the wealthy. In contrast, the United States—under President Donald Trump—is reportedly exploring a plan to grant residency and citizenship to foreigners who invest at least $5 million in the U.S. Treasury.
The UK previously offered a Tier 1 investor visa that granted residency to foreigners investing at least £2 million in British companies. That program was scrapped in 2022 by the former Conservative government amid concerns about illicit Russian funds and broader efforts to combat fraud and money laundering.
Sources say the new visa program would be more tightly controlled to avoid the pitfalls of its predecessor. Measures under consideration include restricting eligible investments to designated strategic sectors and excluding assets such as real estate. Officials are also exploring rigorous due diligence processes to reduce the risk of money laundering.
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