In a bold political move, the Reform UK party, led by Nigel Farage, has announced a controversial new policy that could change the way wealthy migrants view Britain. Called the “Britannia Card”, the proposal allows affluent individuals to purchase a 10-year residency permit for £250,000 ($338,000)—with one major incentive: no UK tax on overseas income, assets, or capital gains.
This announcement comes as a direct challenge to the ruling Labour Party, which recently cracked down on “non-dom” tax exemptions—rules that allowed certain foreign residents to avoid paying taxes on income earned abroad. Reform UK is presenting a contrasting vision, offering tax breaks in exchange for upfront payments and economic activity.
Tax Perks for the Rich, Cash for the Poor?
Farage claims the policy will benefit not just the wealthy, but also working-class Britons. According to him, proceeds from the visa sales will be redistributed to the bottom 10% of full-time workers, easing the pressure on low-income earners and encouraging employment over welfare dependency.
“We want as many entrepreneurs, risk-takers, and job creators as possible in our country,” Farage said. “This is how we attract investment, boost tax revenue from UK-based income, and create jobs.”
He further argued that nearly 10,800 wealthy individuals—including non-doms and British citizens—left the UK last year due to rising taxes, though this figure has been questioned by experts like the Tax Justice Network.
Public Reaction and Economic Concerns
Not everyone is convinced. Rachel Reeves, the British Finance Minister, slammed the idea as a “tax cut for foreign billionaires.” Meanwhile, the Institute for Fiscal Studies (IFS) cautioned that the financial benefit of the policy remains unclear.
“It’s uncertain whether these wealthy migrants would have come to the UK anyway,” said IFS economist Stuart Adam. “The scheme may attract individuals who simply want to keep their wealth offshore, not those who will significantly invest in the UK economy.”
Despite the controversy, Reform UK is gaining ground in the polls ahead of the 2029 general election, appealing to voters tired of mainstream politics with promises of economic reform and national renewal.
Whether the Britannia Card becomes a reality or not, it’s clear that Reform UK is reshaping the immigration and taxation conversation in Britain.
