U.K. Should Introduce $4.2 Million Investment Visas, Panel Says

U.K. Home Secretary Theresa May should set up a new “premium” route for wealthy investors, with 100 visas a year auctioned off at a reserve price of 2.5 million pounds ($4.2 million), an advisory panel recommended.

The Migration Advisory Committee, which is made up of five independent economists and a representative of the Commission for Employment and Skills, proposed replacing the current so-called “higher investor routes” that require investments of 5 million pounds and 10 million pounds as they are “hugely underused.”