Who is Eligible for a Tier 1 Investor Visa?
If you have a minimum of £2 million ready for investment in UK businesses that are active and trading, you qualify. The money must be available in a regulated institute such as a venture capital firm or a reputable bank. Also, it should be liquid cash than can be withdrawn and spent. Money that is held up in shares or securities does not qualify you.
Secondly, this visa is available for non-EEA and Switzerland citizens. The visa is allowed for three years and three months. You can renew your visa after two years or three years if you invest £10 million or £5 million respectively. However, you need to meet all the eligibility necessities.
As of 29 March 2019, requirements from ‘active and trading’ UK business are as follows:
Registration with UK’s Companies House
Registration with HM Revenue and Customs for corporation tax and PAYE
Hold accounts and a United Kingdom bank account both showing evidence of regular trading of its own goods and services
Must have not less than two UK-based employees who are not directors
Tier 1 Investor Points
Interested applicants must score 75 points for their Tier 1 Investor visa to be approved and granted. The conditions that you needto be awarded the points are as follows:
Proof that you have at least £2,000,000 of your own money to invest in the UK
Proof of where the funds are held
Evidence that you have had these funds for not less than three months
How you obtained the said funds
Evidence that the funds are available for spending in the UK
Alternatively, you must satisfy the following requirements:
You have at least £2,000,000 of your partner’s money
Proof that you and your partner are married or in a civil partnership
If not the above, proof that you have been in a relationship for not less than two years
Your partner’s statement allowing you to invest the money in the UK
Solicitor’s statement showing that your partner’s statement is legally valid
Applicants need not prove their proficiency in the English language or that they have adequate finances to support themselves. Additionally, you must not have a sponsor or a job offer to apply for your investor visa.
Length of Stay
Your Tier 1 Investor Visa allows you to stay in the UK for up to 3 years, four months. Upgrading your investment funds to £5 million or 10 million qualifies you to qualify to stay indefinitely. This is after staying for two to five years (less 28 days) in the UK.
Tier 1 Investor candidates must provide several documents with their application, these include:
Current passport and/or other travel papers
A separate passport snapshot
Clear tuberculosis (TB) test result note, if the candidate is from one of the states on the Home Office’s TB testing list
A felonious record credential from any state they have lived in for more than one year in the past ten years
An indication that you earned your 75 points
Additional Activities and Restrictions
If you hold a Tier 1 Investor Visa, you are allowed to work and study in the UK. In addition, you can invest in active UK companies. You are also eligible to apply for permanent residence in the UK after a set period of a successful stay. This, however, depends on how much you have invested in the United Kingdom. As mentioned earlier, if you invest five million pounds or more, you can apply for permanent residence after three years. If you double that amount, you are eligible to apply to settle after two years.
Tier 1 Investor Visa Extension
If you are already in the UK on a Tier 1 visa, you can go for the Tier 1 Investment Visa extension application. However, you must show evidence that you have invested an amount not less than £750,000 within your first three months of residence in the United Kingdom. If your request is fruitful, you will be given an extension for an additional two years. You must continue investing in an active and trading UK company. Also, ensure that you make submit your application before your current visa expires.
Work with and consult immigration experts who have the needed experience to guide you through the process. They will help you to submit a strong application and give you the support you need during the entire process.
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Frequently Asked Questions
What requirements must an applicant meet to be eligible for a Tier 1 Investor Visa?
You need have access to at least £2,000,000 investment funds
You must be 18 years of age and over
Provide proof that the £2 million belongs to you, your partner or your spouse
Have an active UK bank account
Your money must be:
Held in UK financial institutions or financial institutions based overseas
Available for spending in the UK
A sponsored student can register for a Tier 1 Investor Visa if they are already in the UK on a Tier 4 Visa. You must, however, prove that you are:
A student nurse
A student sabbatical officer
Re-sitting an exam
Writing up your thesis
A postgraduate doctor or dentist
An overseas nurse or midwife
You will not be permitted to work as a medic (doctor or dentist) in the UK unless you meet the following conditions:
Show evidence that you have a bachelor’s degree in medicine or dentistry from a reputable institution in the UK that holds a Tier 4 sponsor You license or UK listed body
Show prove that you worked as a medic, whether a dentist or doctor, during your previous stay in the UK
These two conditions do not apply to the terms and conditions of a previous visa.
How and where do I appeal if my visa application is not approved?
You have the right to a reviewal within 28 days if your visa application fails to go through. You can also appeal in 10 working days. However, there is no assurance that your appeal will result in success. An immigration expert would also be useful in helping you to assess your eligibility and guide you through the application process.
What are the settlement options available to a Tier 1 Investment Visa holder?
Once you have invested £2 million, you are allowed to apply for ILR (Indefinite Leave to Remain). This is after five years of successful residence. An investment of £5 million gives you a shorter period as you can apply for ILR in 3 years. A £10 million investment gives you an even shorter period of 2 years to apply for the same.
To fulfil the responsibilities expected of a Tier 1 Investor Visa holder, you must invest in an active and trading UK business.
What are the dos and don’ts when you are on a Tier 1 Investor Visa?
Work or study
Invest your £2,000,000 or extra in loan capital, UK Government bonds or share capital in active and trading UK listed companies
Invest £5,000,000 and be eligible to apply to settle in the UK after 3 years
Invest £10,000,000 and qualify to apply to settle after two years
Access public funds
Invest in companies that are solely engaged in property investment, development or management
Be eligible to work as a sportsperson or coach