The UK remains a destination of choice for High Net Worth individuals and their families. For high net worth individuals wishing to invest considerable sums of money into the UK economy the Tier 1 Investor visa is an attractive prospect.
The Tier 1 Investor Visa allows you to remain in the UK for a total of 5 years before acquiring permanent residency, as long as the requirements are met.
This visa is particularly attractive to those wanting to undertake employment in the UK or set up a business without the restrictions associated with other visa categories.
The Tier 1 Investor visa gives applicants the freedom to work, form a business or simply reside in the UK without any ties to employment. Investors may also choose to not work at all. Essentially under this visa category you are free of most restrictions.
What You Must Do For A Tier 1 Investor Visa
- Invest at least £2 million for the period of leave granted. You will be granted 3 years leave to remain if making an application from within the UK, and 3 years 4 months if outside the UK. The 4 months extra allows you time to enter the UK at your own convenience.
- Spend 180 days a year in the UK
- Prior to submitting your application you must have set up a bank account with a UK bank for the purposes of investing not less than the mandatory £2 million in the UK. This recent change in the Immigration Rules is intended to outsource the Home Office’s due diligence checks on applicants to the UK banks.Given that it can take some time for banks to conduct their mandatory anti-money laundering and background checks before they will open a new UK bank account, and that applicants will be required to submit an original letter from the bank with their application, the lead-time for new visa applications has increased since 6 April 2015.
- If you have not held the mandatory £2 million in a bank account for a 90-day period prior to your application you will be required to evidence the source of the funds.We are however seeing some overseas British posts and visa officials look more closely at the source of funds. Checks into the “genuineness” of investors and their funds will continue.
- Since 06 April 2015 once your application has been approved your Tier 1 Investor visa will be contained on a Biometric Immigration Card, which needs to be carried alongside the passport rather than endorsed into your passport.
An explanatory letter and a short temporary visa will be issued by the British Consulate when the visa decision is made. Your Biometric Card can then be collected in person within 10 days of arrival in the UK. If the card is not collected your visa may be cancelled.
How We Can Help With A Tier 1 Investor Visa
Our courteous and discreet service will make emigration to the UK an effortless and enjoyable experience.
Our team of accredited specialists in UK immigration law can give you all the advice and assistance you need in your application. We will not only explain how you can make sure you are eligible and take care of the details of your application, we will also help you invest in the UK or set up a business here. Should the need arise we can offer a fully personalized service with one of our immigration advisors in your home country.
The process of applying for immigration into the UK as a high net worth individual can be a confusing one, particularly as the rules are complex and the legislation governing them changes frequently. Our immigration team will explain clearly the requirements you need to meet, check that you are able to meet them, and advise you on the most appropriate application for you to make.
We will monitor your investments together with the investment firm to ensure that you continue to meet the requirements of your Investor visa since failure to ensure your investment has been adequately maintained could result in your visa being curtailed. It would be our responsibility to provide quarterly reports to the Home Office if required.