UK Explores ‘Invite-Only’ Investor Visa With £5 Million Cost

The UK is weighing a new visa that would give three years of residency to wealthy individuals investing at least £5 million ($6.7 million) in the country, as the nation seeks to revive its global attractiveness.

Entrepreneurs and other globally mobile individuals would need to fund so-called priority areas such as fast-growing UK businesses under the proposals, sent by government bodies to wealth advisers recently canvassing them on the idea. The “invite only” program would be subject to enhanced vetting and open the path to permanent residency after three years, according to the documents, reviewed by Bloomberg.