Question to the Home Office:

To ask the Secretary of State for the Home Department, what checks are conducted on those who apply for a UK Tier 1 investor visa.

The Tier 1 (Investor) route is for non-EEA nationals seeking to invest at least £2 million in the UK economy.

We require all Tier 1 (Investor) applicants to have opened an account with a Financial Conduct Authority-regulated bank for the purposes of making their qualified investment. If an investor is applying to enter the UK, then they must provide proof of overseas criminal record checks. Investor visas may be refused where there are reasonable grounds to believe that the applicant is not in control of their funds; the funds were obtained unlawfully; or the character, conduct and associations of a third party providing the funds mean granting the application is not conducive to public good.

The independent Migration Advisory Committee reviewed the Tier 1 (Investor) route in 2014. Following that review, we made a number of changes to the route, to ensure that the UK remains an attractive destination for genuine investors and that those who choose to come here contribute to our economy. We keep all immigration routes under review and do not rule out making further changes if required.

The Home Secretary has not held discussions with the Cyprus Government about its investor visa scheme. The terms of that scheme are a matter for Cyprus. Until we have left the EU the UK remains bound by free movement rules, however, and we would object if another Member State made changes that could lead to abuse of free movement rights in the UK.