Question to the Home Office:

To ask the Secretary of State for the Home Department, what anti-money laundering due diligence protocols are utilised when evaluating high-net-worth business investment visa applications.

The UK closed its Investor Visa to new applications in February 2022 due to the illicit finance risks and poor economic value. At present, the UK does not have an investor visa that is open to new applications and applications for extensions of existing leave closed on 17 February 2026. We continue to process applications for indefinite leave to remain for those on existing leave and this will continue until 17^th February 2028.

The Immigration Rules require that funds be held in FCA regulated financial institutions with funds subject to those companies ongoing due diligence obligations. All cases are also subject to the Home Office’s visa security checks.

Reflecting the governments concern over the elevated risk of investment migration generally, The UKs Money Laundering Regulations (The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017), creates an explicit expectation (section 33 para 6a Viii) for banks to regard clients use of investment migration programmes in any country, including the UK as a risk factor. Banks must also consider in applying Enhanced Due Diligence considerations to clients. These regulations are owned by Treasury but applicable to the Immigration system.

The relevant extract is below;

(6) When assessing whether there is a high risk of money laundering or terrorist financing in a particular situation, and the extent of the measures which should be taken to manage and mitigate that risk, relevant persons must take account of risk factors including, among other things—

(a)customer risk factors, including whether—

…

(viii)the customer is a third country national who is applying for residence rights in or citizenship of a state in exchange for transfers of capital, purchase of a property, government bonds or investment in corporate entities in that state;