Since the first referendum vote in June 2016, the UK government has been dealing with an arduous and controversial process of exiting the European Union (EU). Regardless of anyone’s feelings on the matter, Brexit is expected to officially happen on March 29, 2019. What that exit looks like on a national and international context is fueling great anxiety for our prospective clients, particularly with regard to the future economic uncertainty in the UK’s business and investing sector.
One reoccurring fear is that if Brexit happens and is particularly messy, a new government could take power that would drastically change corporate and general tax policies, demanding increases upon wealthy individuals. Another fear frequently cited by clients – perhaps more worrisome – is a severe economic downturn that could wipe out individuals’ assets and business prospects.
Our firm has received an unprecedented number of inquiries from high net worth British citizens and residents looking to move to the U.S. or otherwise pursue immigration benefits to hedge their bets. Prospective clients have been particularly interested in moving to the U.S. on a temporary (but indefinite) basis through an E-2 nonimmigrant investor visa. Other investors – seeking a more permanent, but less active solution – have been drawn to the EB-5 regional center investment program. The E-2 process is generally faster than the EB-5, and also can be accomplished with a lower threshold amount. However, some wealthy British investors have preferred moving forward with the Green Card process for their families, especially as increases to the minimum investment amount are looming.
For more information regarding moving to the U.S. as an investor or entrepreneur, contact us today.