Tier 1 (Investor) visa
This visa category allows non-European citizens and their family members to reside in the United Kingdom for an investment of £2 million into the UK economy. There is no English language or maintenance requirement to be met by the Applicant. An Applicant is eligible to work, study or engage into business activities in the UK whilst on this visa category.
An applicant is required to invest £2 million in the UK, the money must be entirely under their control i.e. the money belongs to you and you are free to use it for the investment. It can be held by the applicant alone or jointly with a partner/spouse; there should be no restrictions from the partner in relation to the use of the funds. The money should have been held in a financial institution that is regulated and it must be free to transfer. The £2 million must have been held for three months consecutively before making the application. If the funds have not been held for that period of time then the applicant has to evidence the source of the funds e.g. a divorce settlement, an award, a gift etc. The appropriate paperwork will have to be produced to evidence the source of the funds.
An Applicant must open a bank account with a UK regulated financial institution which the funds can be transferred to for the purpose of investing.
If the application is successful the applicant will be granted 3 years and 4 months visa. The applicant can extend for a further 2 years and after 5 years they can apply for indefinite leave to remain in the UK.
Extension Applications – Post 6 November 2014
For an extension application the following must be met:
- An applicant will have to evidence that they made the investment within 3 months of either entering the UK (for entry clearance visa) or 3 months from when the visa was granted (for an in country application).
- The £2,000 000 must have been invested in at least one of the following ways: UK Government bonds, share capital or loan capital in active and trading UK registered companies.
- The level of investment must have been maintained at £2 million throughout the period of leave.
Extension Applications – Pre 6 November 2014
Pre November 2014 applicants were only required to invest £1 million. The following must be met to apply for an extension under the old rules:
- Have at least £1 million at your disposal in the UK;
- Have invested not less than £750,000 of your money in the UK through UK Government bonds, share capital or loan capital UK registered companies. You cannot have invested in companies that are mostly engaged in property investment activities;
An applicant will need to have made the investment referred to above:
- within 3 months of their entry into the UK, if they were granted visa as a Tier 1 Investor; or
- within 3 months of the date of the grant of entry clearance or leave to remain as a Tier 1 (Investor) visa, or
- where the investment was made prior to the first grant of visa as a Tier 1 Investor, no earlier than 12 months before the date of the application which led to the first grant of leave as a Tier 1 Investor.
How can we help?
At Master Legal Services LTD we have extensive experience in processing and organising Tier 1 (Investor) Visa applications.
T: 020 3290 0143