Mark Harper, the UK Immigration Minster recently stated that the UK Tier 1 Investor route as well as some other categories of the UK Points Based System has become increasingly popular for high net worth individuals wishing to migrate to the UK.
High Net Worth UK Immigration
The UK Border Agency (UKBA) adopts a welcoming stance towards rich ‘high net worth’ applicant’s whilst deterring those deemed to be ‘low quality migrants.’ Mr Harper remains optimistic about attracting ‘valuable migrants’ and has stated:
“We’ve made changes to the investor and entrepreneur route to make the UK a more attractive option for valuable migrants. The time it takes for the biggest investors and most successful entrepreneurs to settle here has been reduced and a new Graduate Entrepreneur route has been introduced for graduates who have demonstrated entrepreneurial flair whilst studying in the UK.”
UK Tier 1 Investor Visa – the advantages
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.
The visa can be granted for three years and individuals can switch into this category whilst already present legally in the UK. If an applicant is successful under the points-based system, they are allowed to bring dependants (children under 18 years of age, a husband, wife, civil partner, or unmarried or same-sex partner) to the UK, as long as they are given entry clearance or permission to stay (known as ‘leave to remain’).
The UK Investor visa category is designed for migrants who want to make a substantial financial investment in the UK without having to take the more proactive steps that are involved with an “Entrepreneur” or sole representative visa categories. 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.
An applicant is able to make a Tier 1 Investor application if they can demonstrate that they:
- have £1,000,000 (£1million) or more of their own money for investment in the UK; or
- have £2,000,000 (£2million) or more in personal assets, plus a loan of £1,000,000 (£1million) or more for investment in the UK.
UK Tier 1 Investor Visa: Long Term Benefits
The route has been designed to allow high net worth individuals to make a substantial financial investment in the UK and such investors are rewarded for their financial contribution by having a escalated route to Indefinite Leave to Remain:
For those individuals investing the amount of £1 Million, they are be eligible for Indefinite Leave to Remain (ILR) after five years (provided that they have invested £1,000,000 in the UK). However if an individual has invested the amount of £5 million, they are able to apply for ILR after the investment has been in place for three years.In addition to this, if an individual has invested the sum of £10 million, they are be able to apply for ILR after the investment has been in place for at least two years.
The UK Immigration Minister, Mr Harper, goes on to say:
“We recognise attracting the brightest and the best migrants is integral to upholding this position and safeguarding Britain’s future growth prospects. We want to harness their expertise, insight and contacts to help us succeed in the global race.”
Successful Tier 1 Investor 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 letter of the law. Please contact us so that we can review your case and provide you with an assessment of your case.