Have you ever thought about investing in the United Kingdom? Perhaps you are looking for a new place to expand your business. Or maybe you are seeking to start a new one in the UK. Whatever the reason, if you want to apply for a Tier 1 Investor visa in UK, this article will give you all the information you need to know to do so.
Tier 1: Investor Visa in UK
Tier 1 Investor visa in UK is a visa that’s designed for high-net-worth individuals who want to invest in the country. It allows investors to make and investment of £2 million or more in UK government bonds, share capital or loan capital in active and trading UK companies.
It’s a temporary visa and authorizes investors to live in the UK for up to 3 years and 4 months. Investors can extend their visa for another 2 years and then apply for indefinite leave to remain (ILR) after 5 years. All of these have different time processing initial and extension applications that you must look into before applying.
There are other Tier 1 visa categories you can apply to, each one with their own requirements and regulations. Some of them are Tier 1 Entrepreneur, for people who want to set up or take over and run a business in the UK; Tier 1 Graduate Entrepreneur, for graduates with an innovative business idea who want to initiate a business in the country; Tier 1 Exceptional Talent, for world-leading individuals in the fields of science, humanities, engineering and the arts; and more.
To get endorsement from a recognized body, you must usually be aged 18 or over, meet the requirements of the points-based system and show that you intend to work in your field while you’re in the UK.
Requirements for Investor visa in uk
The Tier 1 Investor visa in UK is a points-based visa, which means that applicants must score enough points to be eligible for the visa. The number of points required varies depending on the applicant’s circumstances, but the minimum requirement is 75 points.
The points for Investor Visa in UK are awarded for:
- Having £2 million or more to invest in the UK: This money must be held in a regulated financial institution and must be free to spend the UK. It must also have been earned legally.
- Being able to support yourself and your dependents financially: This includes having enough money to cover the cost of living and accommodation in the UK, as well as the costs of any return or onward journey.
- Being proficient in English: They can demonstrate this by either holding a degree that was taught or researched in English, or passing an approved English language test at a specified level, or being a national of majority English-speaking country.
- Meeting the residence requirement: In order to meet the residence requirement, applicants must have lived outside the UK for less than 12 months in the past 5 years before their application date.
If they have lived in the UK for more than 12 months in the past 5 years, they can still apply if they meet one of the following criteria: have lived in the UK for less than 3 months before their application date, are applying from outside the UK or have permission to live in the UK because they are a dependant.
It is mandatory to provide an overseas criminal record certificate for any country where you have been present continuously or cumulatively for 12 months or more in the 10 years prior to your application for entry clearance as a Tier 1 (Investor) migrant or adult dependent (over 18 years of age) of the main applicant. If you are unable to obtain a certificate, you must provide a letter detailing your attempts to obtain one and confirming why this has not been possible.
In terms of the documents required for Tier 1 Investor visa applications in the UK, the Immigration Rules are very strict. Obtaining professional guidance from an immigration lawyer will ensure that your application fulfills all requirements and is presented correctly. Applying for a priority 5 working day consideration may also be possible if you are applying from outside the UK.
Tier 1 Investor Visa Processing
The process for applying for a Tier 1 Investor visa in UK is as follows:
- Submit an online application form
- Book and attend an appointment at a UK Visa Application Centre (VAC)
- Send biometric information (fingerprints and a digital photo)
- Wait for a decision on your visa application
Most visa application centers outside the UK offer a priority service, which allows Tier 1 Investor visa applicants to receive a decision on their applications for entry clearance within 5 working days. Tier 1 Investors applying for further leave to remain from within the UK can apply for either a standard 8-week consideration or a priority 5 working day consideration.
If you are applying in the UK, you should check your eligibility to switch immigration categories in the country.
Tier 1 Visa Fee
What Can you Do with an Investor Visa in UK?
If you are granted a Tier 1 Investor visa, you will be able to:
- Work in the UK without any restrictions: You are free to work in any capacity, including as an employee, self-employed person, or sole trader
- Bring your family members (spouse/partner and children under 18) to live with you in the UK: If you have children while you’re in the UK, you can apply online to add them to your visa as your dependent. Doing so will allow you to travel in and out of the UK with them. You’ll need to provide a full UK birth certificate for each child, showing the names of both parents
- Study at any educational institution inside the country
(All of this will be available as long as you meet all the requirements made by the UK Government).
Comparison with Investor Visa in U.S.
The US offers a number of different investor visas, including the E-2 Investor Visa, L-1 Intra-Company Transfer Visa and EB-5 Investor Visa. The requirements for each visa vary, but all require the applicant to invest a certain amount of money in a US business. The EB-5 Investor Visa requires a minimum investment of $1 million, while the E-2 Investor Visa requires $100,000.
Meanwhile, the UK program requires £2 million for all applicants to invest, regardless of their nationality. It is more flexible in terms of the required investment amount and the available settlement options.
Unlike the Tier 1 Investor Visa in UK, there is no specific English language requirement for US investor visas. However, all applicants must demonstrate that they have the financial resources to support themselves and their dependents while in the US.
The US also has a number of different settlement options for investors, including permanent residency (Green Card) and citizenship. The EB-5 Investor Visa offers a path to Green Card status for investors who make a minimum investment of $1 million in a US business. For those who invest $500,000 in a Targeted Employment Area (TEA), there’s a reduction in the investment amount to $900,000.
The E-2 Investor Visa offers a path to citizenship for investors who make a minimum investment of $100,000 in a US business. However, this visa does not provide a direct path to citizenship and applicants will need to apply for a Green Card before they can apply for citizenship.
When comparing investor visas, it is important to consider the investment amount, English language requirements, and settlement options. The Tier 1 Investor Visa in UK requires a higher investment than the US EB-5 Investor Visa, but provides a direct path to citizenship. The US E-2 Investor Visa requires a lower investment than the UK Tier 1 Investor Visa, but does not provide a direct path to citizenship. Both countries offer a number of different settlement options for investors, therefore it is important to compare the requirements before making a decision.
Tier 1 Investor Visa in 2022
Unfortunately, Tier 1 Investor visa in UK is now closed for applications. This is due to the high security risks associated with this route. An expert panel found serious flaws in the visa’s design and operation, leading to this decision.
The Tier 1 Investor visa allowed wealthy individuals to fast-track their application for settlement in the UK, provided they made a qualifying investment of at least £2 million. The main problem with this route was that it did not require applicants to demonstrate any genuine entrepreneurial intent or skills. This means that there were no real checks on who was coming into the country.
The Home Office will be making reforms to the Innovator route, part of the new points-based immigration system, to provide an ambitious investment route which works more effectively in support of the UK’s economy
In addition, the investments that were being made through this visa were often not going into productive projects that would benefit the UK economy. Instead, a lot of money was being funneled into luxury property developments, which was driving up prices in the already-expensive London housing market.
The UK government has now closed this visa route in order to protect the country from security risks and to ensure that investments are being made in a way that will benefit the economy. This is a significant change for the Tier 1 Investor visa category, and it is important to be aware of if you are considering applying for this type of visa in the future.
If you are interested in investing in the UK, there are still other routes available that may be suitable for you. For example, the Tier 1 Entrepreneur visa allows individuals to come to the UK to set up or run a business. This route requires applicants to demonstrate that they have a genuine business plan and the skills to make it succeed.
Another option for investors is the Tier 2 General visa, which is for skilled workers who have a job offer in the UK. This route does not have a minimum investment requirement, but you will need to meet the other eligibility criteria in order to apply.
If you are planning to invest in the UK, it is important to seek professional advice in order to find the most suitable visa route for your circumstances.
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