UK Proposes $6.7M Invite-Only Investor Visa to Lure Millionaires

The UK government is considering a new visa that grants three years of residency to wealthy foreigners who invest over £5 million ($6.7 million) into the country, available by invitation only. The proposal targets ultra-high-net-worth individuals from abroad, aiming to reverse an exodus triggered by the 2025 end of tax breaks for non-domiciled residents. The program would require participants to undergo enhanced vetting and invest in fast-growing "priority" businesses, with a direct path to permanent residency after three years. The government has also consulted wealth advisors on the plan. A spokesperson stated, "We are making every effort to attract investment into the UK." The removal of the centuries-old non-dom system, which allowed the uber-rich to avoid taxes on overseas income, prompted around 10,800 millionaires to leave the UK in 2024. Many relocated to Italy, particularly Milan, which offers a flat levy of €200,000 ($223,000) to sidestep taxes on foreign earnings. The new visa could shift the UK's millionaire population again.