HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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UK ANNOUNCES NEW SPECIAL VISA FOR HONG KONG'S BN(O) HOLDERS, OPEN FOR APPLICATION ON JANUARY 31, 202
Hong Kong's British National (Overseas) passport holders and their immediate dependants will have the right to apply for a new special UK visa from January 31, 2021. A five-year visa will cost £250 per person.
Hong Kong residents are buying more houses and apartments to lease out for income in Britain, and have became the fifth largest foreign investors in central London as of last August, driving up prices in some popular districts outside the UK capital.
The new bespoke immigration route will allow BN(O)s to come to the UK without the current 6 month limit, granting them 5 years limited leave to remain, with the ability to live and work in the UK. After these 5 years, they will be able to apply for settled status and, after a further 12 months with that status, apply for citizenship.
Amid the uncertainty of Brexit and increasing tax burdens for landlords, 2018 may be the year for rental investors to branch out beyond the obvious in the North of England.
Manchester and Birmingham set for faster growth than rest of the country as property value rises in northern England.