Tier 1 Investor: Residency in the UK for High Net-Worth Individuals
Tier 1 Investor: Residency in the UK for High Net-Worth Individuals
If you are a wealthy individual and wish to come to live in the United Kingdom, IBB’s immigration specialists can assist you with making an application for a Tier 1 Investor visa. Our lawyers will support you through the visa application process and can help you with other legal requirements such as a purchase of a family home, wills, inheritance and wealth planning, the setting up and running of a business and other aspects of life so that you can settle in your new home comfortably and worry free. Your affairs will be handled swiftly, professionally and with a high level of confidentiality.
The general requirements of the Tier 1 Investor visa category are summarised below for your reference and convenience. For a successful visa application, we suggest that you ask for professional advice and support.
Investment funds
The basic requirement of the Tier 1 Investor is that an applicant must have access to at least £2,000,000 in cash that can be freely invested in UK Government bonds, share capital or loan capital in active and trading companies that are registered in the UK. The cash funds must be held in a regulated financial institution for a period of 3 months prior to making the application for the Tier 1 Investor visa. If the funds have not been in the account for a continuous period of 3 months, applicants are required to show the source of the funds.
Investments made within 12 months prior to the Tier 1 Investor visa application can count toward the required investment amount.
UK Bank account
The applicant must have opened a UK bank account for the purpose of investing the £2,000,000 in the UK prior to making the visa application.
Conditions of Tier 1 Investor visa
Visas are granted subject to a number of conditions, which investors need to demonstrate they have met on any application for an extension of stay and Indefinite leave to remain (see below). The main conditions specific to the Tier 1 Investor category are:
- Invest £2,000,000 within 3 months from the date of initial entry to the UK on the Tier 1 Investor visa, or from the date of issue of the Tier 1 Investor visa (if applied within the UK)
- Maintain the investment throughout the period of residency in the UK on the Tier 1 Investor visa
How long can a Tier 1 Investor stay in the UK
Initially, Tier 1 Investor visas are issued for 3 years and 4 months to successful applicants who have applied from overseas. The status can be extended for another 2 years from within the UK, providing the conditions for extension are met. On completion of 5 years of residency and subject to compliance with the conditions of the Tier 1 Investor category, visa holders can then apply to remain in the UK indefinitely.
Indefinite Leave to Remain
Successful investors may apply to remain in the UK indefinitely and subsequently apply to become British citizens. The Tier 1 Investor category allows for both standard and accelerated routes to settlement in the UK. Under a standard route, investors may apply for Indefinite Leave to Remain on completion of 5 years of residency under the Tier 1 Investor visa. Under the accelerated route investors can apply to remain in the UK indefinitely as follows:
- after 2 years of residency, if invested £10,000,000; or
- after 3 years of residency, if invested £5,000,000.
Contact our immigration law experts today
Contact us today on immigrationteam@ibblaw.co.uk or 03456 381381 to see how we can help you with your immigration matter. Alternatively please visit www.ibblaw.co.uk/service/immigration for more information.
