The UK launches an "invitation-only" millionaire visa: £5 million for a three-year residence, then apply for permanent residency

The UK government is drafting an "invitation-only" investor visa: applicants must invest at least 5 million GBP in the UK in exchange for a three-year residence permit, with funds required to flow into key sectors and undergo background checks.
(Background summary: Hong Kong Monetary Authority to announce "Stablecoin Issuer License" system and application procedures next week! Regulations to take effect in August.)
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• 5 million GBP for an "invitation-only" entry ticket
• Why is the Labour Party offending the wealthy first?
• Other players in this talent race

Guillaume Pousaz is not an ordinary expatriate; this Swiss-born founder built the UK fintech unicorn Checkout.com, whose peak valuation soared to $40 billion, making it one of the most prominent names in Europe's payment infrastructure landscape.

But by early 2025, he packed his bags and scaled back his business dealings with the UK. Shipping magnate John Fredriksen and Egyptian billionaire Nassef Sawiris also followed suit. The UK's "paradise for the wealthy" filter is starting to fade.

Now, the UK government plans to introduce a new card.

5 million GBP for an "invitation-only" entry ticket

According to an internal government proposal obtained by Bloomberg, London is assembling a brand-new identity card: the threshold is set at 5 million GBP (about 6.7 million USD, NT$ 212 million), granting a 3-year residence permit, which can be extended to permanent residency upon expiry.

The biggest difference from traditional "money-on-arrival" wealthy visas is that this mechanism adds two gates: the invested funds must flow into specific sectors (such as high-growth domestic companies), and background checks will be more rigorous than before.

Why is the Labour Party offending the wealthy first?

In recent years, the UK government has abolished a special tax exemption system with over 200 years of history called "non-domiciled status," opting instead to increase taxes on "non-resident" wealthy individuals. The reform takes effect in early 2025, offering clear short-term political gains, but also immediate side effects.

Fintech billionaires like Pousaz, when choosing a residence, see taxes, regulatory environment, and visa flexibility as three columns on the same spreadsheet. Any negative shift in one column recalculates the overall equation. This reform effectively raises the cost of one of these columns, making the UK’s reputation of "welcoming the wealthy" fade further.

The invitation-only visa, to some extent, is the government trying to patch this gap: instead of retracting the tax increase decision, they adopt a strategy of "we want the people, we will negotiate directly."

Other players in this talent race

But the UK is not the first country to realize that "high-net-worth individuals vote with their feet." Dubai's Golden Visa, Singapore's Family Office tax incentives, Portugal's NHR scheme, and Cyprus's low-tax residence have long formed a "migration map" for wealthy individuals to compare and choose repeatedly.

In the crypto and fintech circles, high-net-worth groups are often more familiar with this map than their traditional financial predecessors.

The UK’s move to introduce an invitation-only system is an attempt to reposition itself in this increasingly competitive market: an official statement from the UK government spokesperson said:

"We are doing everything we can to attract investment into the UK. The Global Talent Taskforce is evaluating all options to identify and attract the world's top talent."

The proposal is still in the stage of consulting wealth advisors, and the official rollout schedule has not been determined. But the phrase "invitation-only" itself already signals a fundamental shift in UK thinking.