The Tier 1 Investor Visa category provides an opportunity for high net worth individuals from outside the EEA and Switzerland, who meet the necessary requirements, to relocate to the UK. It is likely this route will also become available to EEA and Swiss nationals post Brexit.
In order to qualify under the Tier 1 (Investor) route, the applicant, or their partner, must have at least £2 million under their control, in either of their names, to be available to make specified investments in the UK. If granted, this route enables applicants to bring family members as their dependants with the right to work and study in the UK. This requires individual applications and documents to be provided for each dependant.
Applicants can come to the UK with a Tier 1 (Investor) visa for a maximum of 3 years and 4 months. Thereafter, the applicant can apply for an extension for an additional two years. Applicants intending to invest £2 million should be eligible to qualify for Indefinite Leave to Remain (ILR) or “settled status” after 5 years’ continuous residence in the UK. Applicants investing under the £5 million or £10 million investment routes will be placed on a fast-track route to ILR, provided the requirements are met at the time of application. The following table demonstrates the timeframes for eligibility for ILR and citizenship for varying investment amounts under the Tier 1 (Investor) route:
|
Investment |
£2 million |
£5 million |
£10 million
|
|
ILR – Main applicant |
5 years |
3 years |
2 years
|
|
Citizenship – Main applicant |
6 years |
5 years |
5 years
|
The earliest the applicant can apply for the Tier 1 (Investor) route is 3 months prior to the intended date of travel to the UK. Applicants should receive a decision within 3 weeks of attending their biometric appointment. There is an option of paying for a faster decision, however, this is only available in limited locations.
Whilst it appears deceptively simplistic, the Tier 1 (Investor) visa category is, in fact, rather intricate, please see: https://www.gherson.com/blog/investor-visa-offers-gateway-uk-it-needs-be-carefully-monitored for additional details with regard to the complexities of the Tier 1 (Investor) route.
Gherson does not offer investment advice and any investment decisions must be made by the applicant on the basis of independent financial advice.
Gherson has very extensive experience in supporting applicants through all stages of the Tier 1 (Investor) immigration route. Gherson has practiced in this area since the inception of the Tier 1 (Investor) route and has dealt with applicants from all over the world including America, Africa, South-America, the Indian subcontinent, Australia, China, Russia and Kazakhstan. It is anticipated this category will be open to EEA and Swiss nationals post Brexit.
If you would like to discuss your current situation and options in relation to this visa category, please do not hesitate to contact us.
The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please don’t hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.
©Gherson 2020