Tier 1 Investor Visa
The Tier 1 Investor visa is categorized by high net worth people who have the capacity and are ready to make financial commitments in the UK.
The UK is an attractive country for those that need citizenship by investment. There are regulated and stable government policies, they enjoy some basic amenities, and it’s free from corruption.
Those looking forward to investing in the UK can apply for an investor visa. It enables holders to work, study, and conduct business in the UK. Their dependents can also travel to join them.
After five years, the investor visa often results in a settlement in the UK. Investors visa holders with massive investments in the UK are eligible for accelerated settlement. You can invest up to £2,000,000 in active, trading UK-registered firms as a loan or share capital using an investor visa.You’ll learn all you need to know concerning Tier 1 investor visa in this article.
Requirement for Tier 1 Investor Visa
According to the government review, the requirements for the UK investor visa on Tier 1 were reinforced in March 2019.
The new rules have rigid requirements for candidates.
You must provide evidence of the following as part of your application:
- Must be above 18 years.
- Having investment funds with a minimum value of £2,000,000 or more that have been held for a minimum of two years;
- Open a UK bank account (regulated bank).
- Evidence of the investment funds must belong to you, your spouse or a jointly owned.
- The investment funds must be available in the UK.
- The investment funds should be in a financial institution under government regulation.
You can deposit the investment funds in pounds sterling into your UK bank account. This requirement is necessary because there’s a restriction on the amount of money that can be transferred in some countries.
You must make sure that you are not subject to such restrictions.
There’s no residency requirement if you are not planning to settle in the UK.
After that, you can extend your visa for another two years. Those applying for permanent residency (ILR) must fulfil specific UK residency requirements.
The immigration regulations about investment funds are detailed and challenging to adhere to.
Key Benefit of Tier 1 Investor visa
The opportunity to obtain Indefinite Leave to Remain (ILR) with an investment of £10 million after spending two years may be the investor visa’s most significant advantage.
As a result, of all UK visas, this is the fastest way to permanent residence.
The Investor visa does not require English language proficiency.
Other benefit includes;
- You can reside in the UK for three years and four months.
- You can extend your visa for another two years before its expiration.
- You are free to work for any organisation or to change employment whenever you like if you have an investor visa.
- You can also be employed in any position as long as you meet up with the requirement.
The only restriction is that you can not be a professional athlete or sports coach.
This is more favourable than a work visa, which restricts your employment options to specified employers and job categories.
- You also have the opportunity to engage in business activities which may involve establishing a new investment or business in the UK, acquiring an existing business, or partnering with another entrepreneur.
- The investor visa holder can enrol in a short or long-term course in a UK university.
- You can also bring your partner and children to the UK to benefit and enjoy the high and excellent standard of living and other basic amenities such as education, housing, and healthcare.
How to Apply and Processing Time
The best time to apply is three months before your trip.
Applications for entry clearance may be eligible for priority service, and decisions on these requests should come within 10 to 15 days.
Applications for entry clearance commonly take three weeks to process, while those submitted from within the UK generally take eight to twelve weeks.
The application is based online, except if you’re from North Korea.
It is necessary to submit the correct document when applying.
If you don’t, your application can be rejected, costing you valuable time.
UK Visas and Immigration (UKVI) may contact you to provide your biometric information after receiving your application.
Your complete application will be considered once the biometric information is received.
Permissible Investments Under Tier 1 Investor Route
You are not permitted to work as an athlete or sports coach, invest in businesses that focus primarily on real estate investment, or claim UK public funding or management and development.
Government bonds are also not permitted investments under the 2019 regulations.
Under the new regulations, pooled investments funded by a UK or devolved government department or one of its agencies are permissible investments.
The FCA must regulate any intermediary vehicle, and the investor must provide proof of the final investment location and the method used to move funds.
An “active and trading” UK corporation is now more strictly defined. Strong evidence of trading in the UK includes the following
- Registered in the UK Companies House.
- Registered corporation tax and PAYE with HMRC.
- Evidence of regular trading from a UK business bank account.
- Minimum of two UK employers who are not part of the directors.
Conclusion
A Tier 1 Investor visa is used to gain access to the UK for three years and four months. You can also apply to extend the visa for two years before the expiration of your stay.
It is created to attract high net-worth non-EEA residents to invest and reside in the UK. Tier 1 Investor holders can live in the UK with their immediate family.
It is vital to seek legal advice when investing in the UK to ensure that your application complies with the rules & regulations and is well-presented to avoid delays.