Private wealth immigration: Budget 2026

Chancellor John Healey has delivered the first Budget under the leadership of Andy Burnham. While the proposed immigration reforms are welcome, particularly for NextGens, there is still no sign of a visa-by-investment programme for the UK.

Summary of the key changes

1. Changes to minimum salary requirements for sponsored workers
2. A longer visa curtailment period for the highest-skilled workers
3. Expansion of the High Potential Individual visa
4. A longer Graduate visa for students from certain universities
5. Wider Global Talent visa endorsement through R&D businesses
6. Immigration Skills Charge and Certificate of Sponsorship fees: no benefit in kind
7. Related measures for international mobility

1. Changes to minimum salary requirements for sponsored workers

The Migration Advisory Committee's recommendations on visa salary requirements will be implemented from spring 2027. These are:

• a reduction in occupation-specific minimum salary thresholds, from the median to the 25th percentile of wages;
• thresholds to be uprated:
  • based on 2026 wage data; and
  • annually in subsequent years, using the latest ONS wage inflation data; and
• a single discount for students, recent graduates and those in professional training (the PhD discount will be removed).

2. A longer visa curtailment period for the highest-skilled workers

The visa curtailment period for the "highest skilled workers" in "highly paid" jobs will be extended to up to six months, with implementation in 2027. This will give those workers sufficient time to look for a new job and sponsor.

3. Expansion of the High Potential Individual visa

The list of eligible universities under the High Potential Individual visa route will be expanded to the top 150 global institutions, with a proportionate increase to the cap.

4. A longer Graduate visa for students from certain universities

The duration of the Graduate visa will revert to two years for graduates "from high-compliance universities where there are strong labour market outcomes".

5. Wider Global Talent visa endorsement through R&D businesses

UKRI will increase the number of "R&D-intensive businesses" in Industrial Strategy sectors that can endorse scientists and engineers with eligible qualifications to come to the UK under the Global Talent visa.

6. Immigration Skills Charge and Certificate of Sponsorship fees: no benefit in kind

An employer's payment of the Immigration Skills Charge or a Certificate of Sponsorship fee will not be taxed as a benefit in kind. The change will apply to payments made on or after 28 October 2026 and will be introduced by Finance Bill 2026–27.

7. Related measures for international mobility

• Administrative easement to the capital gains tax ("CGT") exit charge for trustees ceasing to be UK resident: "This will make it easier for globally mobile talent to relocate to the UK more quickly."
• Potential double tax relief for investors investing through US limited liability companies ("LLCs"): there will be a consultation ahead of Finance Bill 2027–28.

Likely impact on private wealth clients

The proposed visa and immigration reforms are likely to have a greater impact on businesses and business owners than on individuals. Nevertheless, NextGens will benefit from the reduced salary thresholds for the Skilled Worker route, the longer Graduate visa, and the expansion of the Global Talent and High Potential Individual routes. 

It remains to be seen whether the changes to the CGT exit charge for trustees and the double tax relief for investments through a US LLC will encourage high-net-worth and ultra-high-net-worth individuals to move to the UK. This is particularly so in the absence of a new visa-by-investment route since the Investor visa closed to new applicants in 2022.

How can we help?

Burges Salmon's specialists have substantial experience in immigration, tax, trusts, and estate planning for international clients.  If you wish to discuss any of the matters raised in this article, please do get in touch with Suzanna Harvey, Myra Leung, Megan Thomas or your usual contact within the team.

To ensure the immigration system supports a dynamic labour market and innovative firms, the government will deliver the most pro-business migration system in Europe for high-skill workers.

https://www.gov.uk/government/collections/budget-2026-in-full