This long term category is aimed at well established, wealthy individuals who are prepared to make substantial investment in the UK. Due to the relatively few eligibility requirements for the Tier 1 (Investor) Visa, there is no doubt that it remains the most attractive option for high net worth people who are looking to migrate to the UK. As of 6th November 2014, rule changes made to this category of the Points Based System will be implemented. It is crucial for individuals to become aware of what will be required of them throughout their time in the UK.

Tier 1 (Investor) visa and residence permit applications made before 6th November 2014

Those who have already made an initial application prior to, or are extending their stay under the rules in place before 6th November 2014, will be subject to the following:

Main points

  • The applicant must be able to prove using documentation as evidence that they have access to £1,000,000 (disposable and in a financial institution), or £2,000,000 (in personal assets) and £1,000,000 (loan);
  • A proportion of this investment (25%) can be invested into property;
  • This is not strictly a working category but the investor can undertake employment if desired. However, they may not become a doctor in training;
  • There is no requirement for the investor to have proficiency in English language with the first application or any extension. However, there will be an English language requirement for indefinite leave to remain applications;
  • There is no maintenance requirement (the need to show that you have enough money to support yourself and your family in the UK).

Indefinite Leave to Remain (ILR)

Qualification for ILR will vary depending on how much has been originally invested. In all the below cases, the investor should have spent no more than 180 days per year outside the UK:

  • After 5 years if the individual has money of their own, under their control in the UK amounting to at least £1 million; or owns personal assets which, taking into account any liabilities to which they are subject, have a value of not less than £2 million; and has money under their control and disposable in the UK amounting to not less than £1 million which has been loaned by a UK regulated financial institution.
  • After 3 years if the individual has money of their own, under their control in the UK amounting to at least £5 million; or owns personal assets which, taking into account any liabilities to which they are subject, have a value of not less than £10 million; and has money under their control and disposable in the UK amounting to not less than £5 million which has been loaned by a UK regulated financial institution.
  • After just 2 years if the investor has money of their own, under their control in the UK amounting to at least £10 million; or owns personal assets which, taking into account any liabilities to which they are subject, have a value of not less than £20 million; and has money under their control and disposable in the UK amounting to not less than £10 million which has been loaned by a UK regulated financial institution.

 

Tier 1 (Investor) visa and residence permit applications made on or after 6th November 2014

Those who apply under the rules in place on or after 6th November 2014 will be subject to the following:

Main changes:

  • The current £1 million minimum investment figure is being doubled to £2,000,000;
  • The full amount must be invested in UK Government bonds, share capital or loan capital in active and trading UK registered companies; previously only 75% was necessary and the individual was left with 25% to invest in other permissible UK assets;
  • The investment sum can no longer be sourced as a loan from a UK financial institution;
  • Legislation up until 6th November dictates that the individual must ‘top up’ their initial investment if it falls beneath the minimum threshold of £1,000,000. This will be removed from the new set of rules.

Indefinite Leave to Remain

Again qualification for ILR will vary depending on how much has been originally invested. As is the case for those applying before 6th November 2014, the investor should have spent no more than 180 days per year outside the UK:

  • After 5 years if the applicant has invested money of his own under his control amounting to at least £2 million
  • After 3 years if the applicant has invested money of his own under his control amounting to at least £5 million
  • After 2 years if the applicant has invested money of his own under his control amounting to at least £10 million

Money must be investment in the UK by way of UK Government bonds, share capital or loan capital in active and trading UK registered companies, subject to the restrictions.

 Family Members

The family members of Tier 1 (Investor) migrants can submit an application to join their spouse, civil partner, unmarried or same sex partner, or parent (if the applicant is under the age of 18 at the time of application) in the UK. They may also apply for settlement at the same time as the Tier 1 migrant applicant. Family members are able to work in the UK.

Should you require any further information, don’t hesitate to contact us.