Latest figures released by the UK Home Office this week, reveal that a growing number of multimillionaire Russians have been granted Investor Visas to the UK. The Tier 1 Investor visa, which is granted to those investing at least £2m in the UK, enables the holder to fast track their residency in the UK. The Home Office have revealed that a total of 169 Tier 1 Investor visas were granted to Russian nationals between January and September 2014 – up from 96 in the same period last year.
Fast-Track Visas for Wealthy Russian Nationals Increase
The number of high net worth immigration migrants from Russia has increased since the first round of sanctions were imposed on Russia in March 2014 – preventing Russian and Crimean officials and politicians from travelling to Canada, America and Europe. Japan also followed suit by placing sanctions against Russia. This included the suspension of talks regarding military matters, space, investment, and visa requirements
Russian nationals are interested in the UK Investor Visa as they can apply for permanent residency in the UK after 5 years if they invest £2 million, 3 years if they invest a total of £5 million. Furthermore they can apply to settle in the UK after 2 years if they invest £10 million.
According to the Home Office, the number of fast track visas issued to Russian nationals in 2014 was 69% higher than in 2013. UK visas under the Tier 1 category take the Home Office approximately 30 days to process. Alternatively, applicants who are making their applications within the UK can have their visa application processed within 24 hours.
UK Investor Visa Requirements
The Tier 1 Investor Visa route is for non-EEA nationals who want to make a substantial financial investment in the UK. On 6 November 2014 changes to the Tier 1 Investor Visa route were enforced. The following changes have been implemented:
- You must have a minimum of £2 million to invest in the UK. The money must be your own and must be held in a regulated UK financial institution. The money must also be disposable in the UK;
- You must invest the full amount in prescribed forms such as share or loan capital in active and trading UK companies, or UK Government bonds.
Successful Tier 1 Visa Applications
Our team of experienced and professionally qualified solicitors and barristers will be able to guide you through the process of making a Tier 1 Investor Visa application step by step and limit the possibility of failure by complying with the strict requirements of UK Immigration Applications.
Please contact us so that we can review your case and provide you with an assessment of your case.