UK still open to residency through EU

October 12th, 2016  

UK Residency through real estate investment in EUResidency in the United Kingdom is still open to EU citizens and looks set to remain open for anyone moving to the UK in the coming months.

In an article published in the Daily Telegraph at the weekend, and repeated in the online edition, UK government ministers have revealed that EU migrants will have the right to remain in the UK after Brexit.

Permanent residency in the UK for anyone obtaining a European passport in the coming months is still open to investors who invest in Cyprus where an EU passport is issued within 3 months of investing €2 million in real estate. Cyprus is one of the most popular citizenship by investment programmes for HNW investors because of its speed and clarity and not least of all the fact that the investment is retained by the applicant in real estate and not lost in government “contributions” like so many citizenship investment programmes.

The Cyprus citizenship route remains the most effective route to permanent residency in the UK for High Net Worth investors and may now be the only investment scheme available that can meet any deadline set by the UK government. Holders of a Cypriot passport have the rights of EU citizens and the freedom to live or work anywhere in the European Union. A direct investment in the UK to gain residency can be accelerated in just over 3 years with total investment of £10 million. But still the investor does not gain a UK passport whereas the Cyprus route grants the main applicant and their family EU passports.

Ministers are talking openly about an amnesty for EU migrants entering the UK from this point forward up until a cut off date. There has been no indication at this stage of what such a cut off date will be. However it looks unlikely that any date will be set before the end of March 2017 when the UK is looking to trigger Article 50 to start the official timescale of two years to leave the EU. Anyone choosing to invest in Cyprus before the end of 2016 will likely obtain their passport before any deadline is set.