United Kingdom - Business & Investment - Investor Visa (Tier 1 Investor Migrant)
The Tier 1 Investor Migrant Visa is available to those wealthy applicants who have personal assets of at least £2,000,000 to invest in the UK.
To demonstrate your financial status, you must demonstrate that you have:
• £1,000,000 in cash (held in a regulated financial institution and disposable in the UK), OR
• £2,000,000 in personal assets, and have the ability to access £1,000,000 (through a loan, for example) in cash.
Tier 1 (Investor) migrants do not need to provide any evidence of their competency in English language and are exempt from this requirement. Since Tier 1 (Investor) migrants will be bringing considerable amount of money to the United Kingdom, they are also exempt from the general requirement of providing evidences of their maintenance in the UK.
Source of Funds
If the money has been held in the bank account or portfolio for less than 3 months, then it is necessary to give evidence of source of savings. The source of funding can be one of the following:
- Gift
- Sale deed
- Evidence from a business
- Will
- Divorce Settlement
- Award or winnings
If the money has been held in the bank or portfolio for more than 3 months, then there is no requirement to provide source of income / savings.
Duration of Tier 1 (Investor)
The first time applicants will be given 3 years visa whether they apply for entry clearance or switch from another immigration category. Those who are on Tier 1 (Investor) will get extension for 2 years to enable them complete five years residence in the UK and apply for Indefinite Leave to Remain (ILR).
Dependents
Tier 1 (Investor) migrants will be able to invite their spouse/unmarried partner/civil partner and children under 18 years of age to join them as dependents. The dependents will be given full rights to work in the UK apart from working as a trainee doctor.
Settlement Prospects
Although the persons on the above mentioned visas are allowed to switch to Tier 1 (Investor) visa, only those persons whose previous leave to remain was under investor category will be able to use time spent on their visas towards 5 years residence criteria for Indefinite Leave to Remain (ILR).
It means that if a work permit holder having already spent 3 years on work permit, switches to Tier 1 (Investor) category, will lose that 3 years time for settlement purposes and have to complete 5 years on Tier 1 (Investor) to become eligible for permanent settlement.
Those who have completed a total of five years in a combination of Investor or Tier 1 (Investor) visa will be able to apply for Indefinite Leave to Remain one month before completing their five years.