Investors
People who have substantial funds which they intend to invest in the UK and who genuinely wish to settle in the UK and make it their home may apply for a visa for this purpose at the British consular office in their country of normal residence. These applications are referred to the relevant business unit of the UK Home Office.
The general requirement for someone who wishes to come to the UK as an Investor are that he or she:
- must have their own money which is under their control and is disposable in the UK amounting to not less that £1 million;
- must intend to invest not less than £750,000 of this capital in the UK by way of UK Government bonds, share capital or loan capital in active and trading UK registered companies (excluding those principally engaged in the property investment and excluding investment through deposits with a bank, building society or other enterprise whose normal business includes acceptance of deposits);
- must intend to make their main home in the UK;
- be able to maintain an accommodate themselves (an any dependents) without taking employment (other than self-employment or business) and without recourse to public funds.
Finances
The individual must be able to transfer and dispose of the money freely. With the exception of funds jointly held by an applicant and spouse (both must have unrestricted rights of transfer and disposal), no other persons should have a controlling interest in the money. "Disposal in the UK" means that all the capital required to qualify must be freely transferable to the UK and convertible to sterling. Many countries have strict currency control.
"A sum of not less than £1 million" may include investments as well as convertible currency. Any major assets in the UK, such as unmortgaged property, may also be taken into account provided that they do not make up more than £250,000 of the total sum invested. Personal effects (e.g. jewellery, paintings, antique furniture) cannot count as assets unless it is clear that these items are held purely for investment purposes. The applicant must produce satisfactory evidence of the real value of such items (insurance valuations are not acceptable as these estimates the replacement value only).
Intended investment in the UK
Restrictions on the type of investment allowed under the immigration rules are designed to channel funds into areas which stimulate economic growth in the UK.
The £750,000 may not be invested through an off-shore company or trust. As a general rule, only investments made in the applicant's name are acceptable to the Home Office. Although putting such capital in property investment companies does not qualify under the rules, investing in companies primarily involved in property construction is acceptable. If the applicant has an investment portfolio drawn up by a financial manager, this should be included as supporting evidence for the application. Similarly, where the applicant has invested in a unit trust or other funds which involves investment with a selection of different companies, the UK authorities will probably ask for a copy of the investment portfolio to be included with the application.
Main home in the UK
At the time of the application, the individual must intend to make his/ her main home in the UK. This does not preclude them from having residences overseas, spending time abroad or from choosing ultimately to live elsewhere. An application will probably be refused if the individual appears to intend to come to maintain his / her main home abroad with only short visits to the UK.
If you wish to have our assistance with submitting a business application, please contact us.
