31 Jan How can you apply for a Tier 1 (Investor) visa?
The Tier 1 (Investor) scheme is for high net worth migrants who are able to make a substantial financial investment in the UK.
What are the requirements of the Tier 1 (Investor) visa application?
The Tier 1 (Investor) visa is a category under the Points-Based System (PBS). Applicants will need to score at least 75 points for attributes. In order to obtain 75 points, they have to invest at least £2 million cash funds in one or more active and trading companies that are registered in the UK. Please note that the initial funds can be held in the UK or overseas.
In addition, the funds must be under the applicant’s control and held in a regulated financial institution and transferable to the UK. Please note that the funds can belong either to the migrant or his/her spouse or civil partner.
The £2 million cannot be invested in buying a UK property.
Moreover, migrants will need to open an account with a UK regulated bank for the purposes of investing in the UK, and the UK bank will need to confirm that they have carried out all due diligence checks and “Know Your Customer” procedures in their letter.
From March 2019, applicants will no longer be able to invest in government bonds. Additionally, if the migrant has not held the cash funds for 2 years prior to the date of the application, he/she has to provide additional evidence to confirm the source of the funds, such as deeds of sale, evidence from a business, will, divorce settlement or lottery.
Migrants will also need to provide a tuberculosis test result (TB test) if they are from a country on the GOV.UK website, as well as submit a criminal record certificate from any country where the applicant has lived in for a total of 12 months or more over the last 10 years period.
What is the advantage of the Tier 1 (Investor) visa?
Compared to other UK visa categories, the Tier 1 (Investor) visa does not require migrants to meet the English language requirement.
How long is the Tier 1 (Investor) visa valid for?
The initial leave is granted for up to 3 years and 4 months, and it can be extended for another 2 years.
Applying for Indefinite Leave to Remain (ILR) as a Tier 1 investor
Migrants can apply for ILR once they have resided in the UK 2, 3 or 5 years continuously, depending on the amount of the funds invested:
- 2 years if the applicant invested at least £10 million;
- 3 years if the migrant invested at least £5 million;
- 5 years if the applicant invested at least £2 million.
Please note that the cash funds must remain invested until the grant of ILR.
In addition, migrants cannot have had more than 180 days of absence from the UK during any continuous 12 months of the qualifying period.
In order to qualify ILR application, the migrant has to meet the English language requirement at level B1, as well as pass the Life in the UK test.
Contact Our Immigration Team
For expert advice regarding any aspect of the Tier 1 (Investor) visa, please contact our immigration team on 0203 384 3075.