Reform UK proposes to introduce a “Britannia Card” – a new 10-year residence permit in the UK for £250,000 with tax benefits for foreigners. Find out what the program entails, its potential economic impact and the public reaction

The ReformUK party, led by Nigel Farage, proposes to introduce a “BritanniaCard” – a 10-year residence permit in the UK, which will cost a foreigner £250,000. In exchange, the cardholder will have the right not to pay taxes on income, assets and capital gains received outside the country. Read about the main conditions and prospects of the new British residence permit in this article.

Read here about taxes for migrants in the UK in 2025.

In 2025, the UK radically changed its immigration rules: we told you about new requirements for visas, citizenship, employment and training earlier.

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Why did the idea of ​​launching a new visa for investors in the UK arise?

The possible launch of a new British investor visa was preceded by the following events:

1. Abolition of the non-dom regime. In April, the current Labour government abolished the “non-domicile” tax credit, which prompted wealthy residents to withdraw capital from the UK and change their tax residence.

ReformUK estimates that around 10,800 millionaires will have left the country in 2024.

2. Competition for mobile capital. Golden visa programs in Portugal, Spain and the UAE create attractive alternatives; London risks losing its status as a magnet for wealthy investors.

How will the new “BritanniaCard” work?

- One-off contribution – £250,000 (≈ €295,000).

- Duration – 10 years, with the right to extend or convert to permanent status.

- Tax benefits – territorial principle: foreign income, property and capital gains are not taxed in the UK.

- Funding administration – ReformUK promises to direct all contributions directly to the 10% of lowest paid full-time workers as a “paycheck-to-paycheck” payment.

Why do the authors of the initiative think it’s a good idea?

- An influx of entrepreneurs and high-income taxpayers

Farage calls the card “a magnet for investors and job creators.”

- Supporting the most disadvantaged

The party positions the scheme as a redistribution from wealthy migrants to the poorest workers, which “widens the gap between welfare and work.”

- Simplifying immigration bureaucracy

Supporters propose replacing quotas and points with a “simple entry price,” which would supposedly bring billions to the budget.

How has society reacted to the new investor visa in the UK?

Labour believes that the “Foreign Billionaires’ Benefit” could result in lost revenue and cuts to public services.

The Institute for Fiscal Studies says it is not yet clear whether the additional revenue from the levy will offset the tax losses; the scheme could be used by those who already planned to live in the UK.

Economists at Tax Policy Associates say the scheme “does not attract highly skilled professionals” and may not stop the brain drain.

Comparison with other European Golden Visa programmes

Comparison with other programmes

- Malta/Cyprus: €600-750k investment → citizenship in 12-36 months

- Portugal: Golden Visa from €500k, but no tax “holiday” on global income

- Italy: flat tax of €100k/year on foreign income for HNWIs.

Against this backdrop, the BritanniaCard offers the lowest initial investment among major European economies, but also a shorter “horizon” (10 years) and no direct path to passive citizenship.

What does this mean for potential migrants?

A new route to life in London without global taxation. IT entrepreneurs, traders or agri-investors who earn mainly abroad can optimize their tax burden.

If the program comes into force, wealthy foreigners will receive another jurisdiction with territorial taxation, but with access to the British financial ecosystem.

When will the new visa in the UK come into force?

ReformUK promises to implement the policy in case of victory in the elections; the nearest parliamentary election date is expected to be autumn 2025.

“BritanniaCard” is a bold and at the same time controversial attempt to restore Britain’s attractiveness for global capital after the abolition of the non-dom regime. If the idea is adopted, the country risks turning into a tax “oasis” in the heart of Europe – with benefits for the state budget and poor workers, but also with possible losses for social equality and fiscal stability. How justified such a “barter” between the government and wealthy migrants will be, will be shown by the implementation and the first years of statistics: will the promised investors come – or will they use simpler and cheaper options.

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Let’s remind you! New Zealand is opening its doors to global capital through a reformed investor visa. We have already told you who applies for the Active Investor Plus Visa, what categories of investments exist, how much you need to invest, what are the residence conditions, why the new model is recognized as successful, and what are the results in 2025.

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