What is the UK Investor Visa?
Bizlaw U.K.-Your Legal and Business Services Consultancy!
Today we discuss the UK Investor Visa and how you can move to the U.K. on this visa along with your family if you fulfill the criteria required.
The UK immigration system offers a number of visa routes for experienced and prospective entrepreneurs. Start-up, Innovator, and Representative of an Overseas Business visa are traditionally amongst the routes utilized the most by entrepreneurs who are willing to set up and work for their own company in the UK or a UK-based branch or subsidiary of an existing overseas business. The Tier 1 Investor route is an alternative business category.
What is the Investor Visa (Tier 1)?
Entrepreneurs who are willing to invest at least £2 million of their own funds in the UK registered, active, and trading company or companies may find the Tier 1 Investor visa to be the most flexible and attractive visa status to hold. Tier 1 Investor visas are aimed at high-net-worth individuals living outside the UK or in non-EU countries who are willing to make substantial financial investments in the UK.
Under the Tier 1 visa, a person can study, work, or engage in business activities in the UK. They also have the liberty to bring their dependents into the country. A typical Tier 1 Investor visa leads to settlement in the UK after the completion of a five-year period. With additional investment, the settlement period can be accelerated as per UK immigration laws.
What are the requirements?
To qualify for a Tier 1 Investor Visa, you must-
• Invest at least £2,000,000 in the UK.
• Be 18 years of age or over.
• Have a current passport or other valid travel identification.
• Have opened an account at a UK regulated bank to use for your funds.
• Pay an application fee of £1,561 plus healthcare surcharges at the time of the application.
• Ensure investments are in share capital or loan capital in active and trading UK registered companies or pooled investments that receive funding from the UK or devolved government department or one of its agencies.
• Have a clear criminal record certificate from any country you have stayed in for a total of 12 months or more over the last 10 years.
• A tuberculosis test result.
• See that invested capital is not used to pay for management fees, transaction costs, or tax for buying and selling investments such that the £2 million thresholds is not met
• Remove for use only interest and dividends from the investment
Evidence of Investment funds
The qualifying investment needs to be made within 90 days of the applicant entering the UK under the Tier 1 Investor visa category. The investments should remain in the UK for the entirety of the visa duration and if sold at a loss new ones to make up the loss need to be bought. Funds invested through a trust or an offshore company, or companies that engage mainly in property-related investment ventures including property development and management would not count as an investment under the Tier 1 Visa requirements. You will need to provide evidence showing that you have the required investment funds.
If you are using your own money to invest, you should be able to show-
• How much money you have and where it’s being held (dirty money not allowed).
• Where the money came from if you have had the money for less than 2 years, for example, you inherited it from a relative or a sale or divorce settlement or prize.
• The money can be transferred to the UK and converted to sterling (if it is not already in the UK).
If you are using your partner’s money to invest, you should be able to show-
• A certificate of marriage or civil partnership, or in the case of unmarried or same-sex relationships, proof that you are in a long-term relationship (at least 2 years).
• A statement from your partner confirming that they will allow you to control the funds in the UK.
• A letter from a legal adviser stating that the declaration is valid.
What is the Process?
You can apply for Tier 1 visa online. You must pay £1,623 to apply for this visa. The fee is the same if you are extending or switching visas, or if you are applying as a family member. You will also need to have your fingerprints and photograph taken at a visa application center (to get a biometric residence permit) as part of your application. Applications are usually approved within three weeks, and the initial visa is valid for three years and four months and can be extended when eligibility requirements are met.
You must show that you arrived in the UK within 3 months after your investor visa had been issued and all adults were registered with the police. You must include all your dependants in your application. If you have children that turned 18 during the initial visa period, then they can only be included if they are still financially dependent on you.
Extending your Visa
You can apply to extend your visa if you:
• Have at least £2,000,000 under your control in the UK.
• Have invested those funds in share capital or loan capital in active UK companies.
• Invested this sum within 3 months of your investor start date.
You must pay £1,623 to extend this visa, as well as the healthcare surcharges. Applications will take 8 weeks date (standard service) and 5 working days (priority service).
Tier 1 Investor visa is one of the easiest visas to get. You do not need to prove your knowledge of English. Neither do you need to demonstrate where you studied or worked or show maintenance funds. You can bring all your immediate family members, including your spouse and children. You and your family will be allowed either study, work, run a business in the UK.
For expert assistance regarding this complex U.K. Investor Visa so as not to be in breach and being connected to a wealth management company who can help, or for any other visa for the U.K., contact firstname.lastname@example.org or WhatsApp us on 07583452230. Visit www.bizlawuk.co.uk to find out more about how we can help you with our other services. If you find this information useful, please like and share it.