EB5 Investors Magazine Volume 5, Issue 2 - Page 141

only stability in uptake from the third quarter of 2016, which is after UK’s referendum vote, but in fact increased interest despite Brexit across Investor and Entrepreneur categories. The number of Investor applications granted went up by 80 percent between the second and third quarter of 2016, and by 39 percent between the last quarter of 2016 and the second quarter of 2017. The UK’s Tier 1 entrepreneur statistics are stable and show sustained interest from applicants despite Brexit. There are many reasons for this. The UK’s Tier 1 options are uniquely placed to withstand free movement restrictions post Brexit due to their long term, commitment- driven nature in terms of residence and "...statistics are stable and show sustained interest from applicants despite Brexit." job creation for entrepreneurs. Neither are citizenship programs and they have therefore traditionally attracted those people looking to establish themselves or their family in the UK in the long term, rather than those looking for expeditious citizenship options as in Malta, Cyprus or even Austria. The UK has never been a fast option for those seeking EU citizenship. It takes 3-5 years for permanent residence, with investors required to be physically present in the UK about half of the time each year, and 5-6 years for citizenship, which requires even stricter residency. This immediately contrasts it with the programs in Cyprus and Malta, which offer immediate citizenship and a 12-month path to citizenship allowing investors free movement in all the EU member countries, not just the UK. These two jurisdictions will no longer EB5INVESTORS.COM 140