The Tier 1 Investor Visa

The Tier 1 Investor visa is an immigration route open to high net worth individuals relocating to the UK. This visa allows you to work, study, and live in the UK, as well as bring certain family members with you.

Eligibility 

Anyone interested in applying for the Tier 1 Investor visa must meet certain criteria. A number of these requirements are outlined below (should you require a comprehensive list of requirements, we recommend that you contact an immigration advisor).

• You must be over the age of 18;
• You must not fall to be refused under the general grounds for refusal (which means that you do not have an adverse immigration history, criminal background, or any associations that are deemed undesirable. This requirement is far-reaching. If you have any concerns about this requirement, it is vital that you consult an immigration practitioner);
• You must hold a minimum of two million pounds (£2,000,000) either in the UK or the funds must be freely transferable to the UK;
• Your funds must be held in a regulated institution, such as a bank and must be available to invest in Home Office qualifying investments;
• You must have opened an account at a UK regulated bank for the purpose of investing the funds; and
• You must have full control to freely invest the funds.

Other important factors to be aware of 

• Certain family members (dependants) can relocate with you to the UK. They must apply for and be granted a visa if they are from outside the European Economic Area (EEA) or Switzerland;
• A dependant is a spouse and any child under the age of 18. Please note, any children must be accompanied by both parents unless certain exemptions apply;
• Your money can be in the UK or overseas when you apply;
• You do not need to provide proof of your English language proficiency or your access to maintenance funds when you apply;
• During your stay you will not qualify for public funds;
• The funds must be invested in loan or share capital of active and trading UK companies. There are certain additional exemptions that apply;
• Investors on this visa cannot invest in any company whose main business activities involve managing, developing, or investing in property;
• Furthermore, the funds cannot be invested in property or government bonds.
• There are strict rules regarding how the funds are invested. It is highly recommended that you seek advice from an immigration lawyer and a regulated financial institution.

Application Process 

• You will normally be required to apply from outside the UK unless you are already in the UK holding one of a number of visas;
• If you are applying from abroad, the earliest you can apply is three months before you travel to the UK;
• You should normally get a decision on your visa within three weeks when you apply from outside the UK. However, in most countries you can make a priority application which means you will normally receive a decision within five working days;
• If applying from within the UK, you should receive a decision within eight weeks. If you use the priority service, you should receive a decision in five working days.

Duration of Stay

• The initial visa is granted for three years and four months. Prior to the expiry of your visa, you can make an application to extend your stay for a further two years. The extension application can be made from within or outside the UK. You can extend your visa an unlimited number of times.

Indefinite leave to remain

The route to indefinite leave to remain depends on your level of investment. An investment of more than £2 million can lead to indefinite leave to remain in a shorter period of time. There are a number of requirements that you must meet in order to qualify for indefinite leave to remain. These are not outlined here. 

Once you have been granted indefinite leave to remain, you may qualify to naturalise as a British citizen. This is a separate application and again has different requirements. These are not discussed in this article. 

Assuming you meet all of the requirements, you could obtain indefinite leave to remain and British citizenship in the following timeframes:

Investment	£2 million	£5 million	£10 million
Indefinite leave to remain – main applicant	5 years	3 years	2 years
British citizenship – main applicant	6 years	5 years	5 years

Please note, the accelerated routes are only available for the main applicant. Any dependants must wait five years before being eligible for indefinite leave to remain. 

The information in this article is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this article. For formal advice on the current law please don’t hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.


©Gherson 2020