The UK immigration rules are set to attract investors, entrepreneurs, and people of talent. Recent changes have seen the UK close immigration to highly skilled workers and some other immigration categories. Therefore, for wealthy individuals, one of the best options in order to qualify for leave to remain in the UK is the Tier 1 Investor visa.
The investor category is designed to allow wealthy individuals who make a substantial financial investment in the UK to obtain permission from the UK to enter as an investor under the Tier 1 category. The applicant must invest a minimum of GBP 2 million in the UK.
The Tier 1 Investor category has the shortest investor immigration application processing time among the G8 countries and has very objective entry criteria, with a predictable outcome.
Criteria
The criteria specify that the applicant must show that they have money of their own under their control in a regulated financial institution amounting to no less than GBP 2 million.
The individual must invest for five years in the UK by way of UK share capital or loan capital in active and trading UK-registered companies (other than those principally engaged in property investment). Investment in government bonds and offshore companies is not permitted.
The UK expects the investor and their family to intend to make the UK their main home. In order to be granted indefinite leave to remain (ILR), the main applicant and their spouse should not spend more than 180 days per year outside the UK. All children who originally applied as the main applicant’s dependents will only be granted ILR if both parents are eligible for ILR.
The applicant will initially obtain the Tier 1 visa for 40 months. Within three months of entry into the UK, they are required to make the investment of GBP 2 million, which must be maintained throughout the period of leave.
At the expiry of the initial 40-month period, the investor must apply for an ‘extension of stay’. The UK government will grant a two-year extension of stay to the whole family if the investor has satisfied the requirements for leave to enter, that is, if they have maintained the investment and adhered to the other general conditions for leave to enter.
Fees
You must pay £1,623 to apply for a Tier 1 (Investor) visa. The fee is the same if you’re extending or switching visas, or if you’re applying as a family member.
Healthcare surcharge
You’ll also have to pay the healthcare surcharge as part of your application.
Get a faster decision on your application
If you’re applying to extend or switch in the UK you can pay an extra £500 for the priority service to get a decision within 5 working days.
How long you can stay
You can come to the UK with a Tier 1 (Investor) visa for a maximum of 3 years and 4 months.
You can apply to extend this visa for another 2 years.
What you can and cannot do
You can:
⦁ work or study
⦁ apply to settle after 2 years if you invest £10 million
⦁ apply to settle after 3 years if you invest £5 million
⦁ apply to settle after 5 years if you invest £2 million
You cannot:
⦁ work as a professional sportsperson or sports coach
⦁ get public funds
You also cannot work as a doctor or dentist in training unless one of the following applies:
⦁ you have a primary degree at bachelors level or above in medicine or dentistry from a UK institution that holds a Tier 4 sponsor licence or is a UK recognised or listed body
⦁ you worked as a doctor or dentist in training the last time you were in the UK
⦁ neither of those conditions were part of the terms and conditions on a previous visa