The UK is a global leader in business, financial services, science, engineering and a cultural centre for the arts. The Home Office adopts a welcoming stance towards ‘high net worth’ applicants as they recognise that attracting the brightest and the best migrants is integral to upholding this position and safeguarding the UK’s future growth prospects. The current government believes that after years of controlled migration, they have now created a more selective immigration system that keeps out those intending to exploit the system while welcoming the brightest and best. Here, we explore some of the routes available for high net worth migrants to the UK.
Tier 1 Entrepreneur Visas
The UK Tier 1 Entrepreneur route is open to individuals who wish to invest in the UK by setting up or taking over and being actively involved in the running of one or more businesses in the UK. The route is open to entrepreneurs with at least £50,000 in capital from a registered venture capital firm, seed funding competition or government department or £200,000 of personal wealth which can include third party backing.
Home Office figures show that in the last 12 months there were 973 Entrepreneur visas granted and a further 1,323 dependents. There were 2,290 in country extensions of this type of visa and a further 1,181 dependent extension visas.
Tier 1 Investor Visas
The UK Tier 1 Investor route is open to individuals who wish to make a considerable financial investment in the UK. The route has become attractive due to the fact that the applicant does not need to show evidence of maintenance nor demonstrate that they meet the English language requirements. Usefully, there is no “cap” on Investor visa numbers which allows any number of individuals to apply to enter or leave to remain in the UK.
Home Office figures show that in the last 12 months there were 530 Investor visas granted and a further 1,038 dependents. There were also 373 in country extensions and 429 dependent extensions.
Tier 1 Exceptional Talent Visas
The UK exceptional talent visa route is for exceptionally talented migrants in the fields of science, humanities, engineering and the arts, who wish to work in the UK. These individuals are those who are already internationally recognised at the highest level as world leaders in their particular field or who have already demonstrated exceptional promise in the fields of science, humanities and engineering and are likely to become world leaders in their particular area.
Home Office figures show that in the last 12 months (to the year ending June 2013) there were 59 Exceptional Talent visas issued together with 35 dependent visas.
Successful Tier 1 Visa Applications for High Net Worth Migrants
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, Tier 1 Entrepreneur Visa application or Tier 1 Exceptional Talent Visa application step by step and limit the possibility of failure by complying with the strict letter of the law. Please contact us so that we can review your case and provide you with an assessment of your case.