The Russian billionaire owner of Chelsea Football Club, Roman Abramovich, is still awaiting his Tier 1 Investor Visa renewal which led to him missing out on attending the FA Cup Final where his club beat Manchester United. The delay in granting his Tier 1 visa extension is as a result of recently introduced additional and more stringent checks on the source of funds, particularly from Russian investors in a bid to crack down on ‘dirty money’. This issue has been highlighted after the poison attack on a former Russian spy and his daughter in Salisbury back in March this year and the further breakdown of UK-Russia relations and trust.
Why has the Home Office Delayed Roman Abramovich’s Tier 1 Investor Visa Renewal?
Roman Abramovich is the Russian billionaire owner of Chelsea Football Club. His Tier 1 Investor Visa expired in April this year, and the Home Office has yet to make a decision on his renewal application and as a result, he was unable to enter the UK in order to be here for the recent FA Cup Final against Manchester United. The delay comes in the wake of the poison attack on a former Russian spy and his daughter in Salisbury back in March this year as diplomatic relations between the UK and Russia have soured.
As a result, a spotlight has been put on the source of Russian money which is being invested in the UK. Back in March, the Minister for Security and Economic Crime was asked;
“What steps will the Minister take to enable us to understand where the £2million plus comes form, so that we can be assured it is not dirty money and that these are not unsavoury individuals?”
Following this, the former Home Secretary Amber Rudd ordered a review of the source of funds for current Russian Tier 1 Investors, as well as new Russian Tier 1 Investor Applicants. In total this is said to be around 700 cases, with Mr Abramovich being no exception. Specified evidence is now required for evidencing gifts and deeds of sale, divorce settlements, awards or winnings and wills. Thorough background checks will be undertaken for Russian investors in order to ascertain the legitimacy of their financial interests and assets.
Requirements for Tier 1 Investor Visa Renewal
Prior to the Rules changing in September 2015, Applicants renewing their Tier 1 Investor Visas had to prove they had £1million in investment funds. However, this figure has since doubled to £2million by way of Government Bonds, Share Capital or Loan Capital in active and trading UK registered companies. Furthermore, Applicants must also demonstrate that the investment was made within 3 months of entry with evidence of entry into the UK.
There are different settlement routes for Tier 1 Investors, depending on the amount of investment they make to the UK. For example, an Investment of £2million allows Applicants to apply for Indefinite Leave to Remain (ILR) after 5 years, an investment of £5million allows Applicants to apply for ILR after 3 years and an investment of £10million allows Applicants to apply for ILR after only 2 years. Once an Applicant is granted ILR under the accelerated settlement route, they can then apply for British Citizenship after 5 years instead of the usual 6.
If you need advice on preparing and submitting a Tier 1 Investor Visa renewal application and ensuring you meet all of the relevant requirements and pass the stringent checks, then do not hesitate to contact our Immigration Team to book a consultation with our specialists.
Using Legal Representation to submit a successful Tier 1 Investor Visa Renewal Application
Legal representatives, such as our specialist immigration and visa law firm, are qualified to advise you on immigration law and your immigration matter. You can instruct one of our immigration and visa legal representatives to successfully assist you with an application to apply for a Tier 1 Investor Visa renewal. Our solicitors and Barristers will help you comply with the Home Office’s requirements and meet the Immigration Rules.
Caseworkers at the Home Office are trained to reject applications which are improperly prepared, for example by failing to provide the correct supporting evidence. In order to ensure your Tier 1 Investor renewal application succeeds, our solicitors and barristers will ensure all specified documents must be provided.
The UK Immigration Rules are complex and a legal representative can help ensure that your application meets the Immigration Rules.
Successfully submit a Tier 1 Investor Visa Renewal Application
Our team of solicitors and barristers are specialist immigration lawyers who act in your best interest. We offer a client-tailored approach from the outset. From the very first meeting, we will be able to advise you in respect of your prospects of submitting a Tier 1 Investor Visa renewal application before your application even reaches the Home Office UK Visa & Immigration department. We can assist you with the preparation and submission of a Tier 1 Investor renewal application and ensure that you meet all the requirements of the relevant rules.
We are based in the legal epicentre of London, just across the road from the Royal Courts of Justice in order to ensure we get the best results for our clients. We are minutes away from the Immigration and Asylum Tribunal, the Royal Courts of Justice and other central London courts.
Preparation is the key to successful immigration applications. Our UK immigration and visa solicitors are here to guide you through the complex immigration rules and requirements. If you wish to meet one of our lawyers, please call our Immigration Team so we can assess your case and arrange your legal consultation to discuss a Tier 1 Investor application.
Contact our London immigration solicitors on 02071830570 or complete our contact form.