What are the requirements for a Tier 1 Investor Visa?
An individual must meet the following requirements for a Tier 1 investor visa:
- Must have at least £2,000,000 of investment funds to invest in the UK
- Must be 18 years of older
- Must be able to prove that the money belongs to the investor, or their spouse, civil partner or unmarried partner which the investor has unrestricted access to.
- Must have an account in the UK by a UK regulated bank.
There are additional requirements relating to funds, the funds must be held in one or more regulated financial institutions. Furthermore, the funds must also be disposable, meaning the funds should be available for investment and spending purposes.
How long does it take?
Decisions relating to an Investor visa should be made within 3 weeks when applying from outside of the UK. However, in certain circumstances a priority application might be available. Application must be made 3 months before the travel date to the UK.
How long can an investor stay in the UK for?
The Investor visa grants the investor a maximum of 3 years and 4 months stay in the UK. However, it can be extended, if an application for an extension is granted this will give the investor another 2 years in the UK. Additionally, once in the UK there are restrictions as to what the investor can and cannot do. Restrictions require investors not to work as a professional sportsperson or sports coach as well as get access to public funds. Further restrictions include not being able to work as a doctor in training or a dentist in training unless the investor holds a bachelor’s degree in medicine or dentistry from a UK institution, which holds a Student sponsorship licence or is UK recognised.
What can an investor do?
An investor can:
- Study or work
- Apply for settlement in the UK after 2 years if they invest £10 million
- Apply for settlement in the UK after 3 years if they invest £5 million
- Apply to settle after 5 years if they invest £2 million
There are fees associated with the application for an investor visa. The application fee is £1,623 to apply for an investor visa. The fee remains the same for those who wish to extend their visa, applying as a family member or switching to another visa. Further, fees include the healthcare surcharge and £19.20 for biometrics to be taken.
How can NA Law Solicitors help?
Our team of experienced immigration solicitors are here to help you navigate the complex Home Office rules and policies. Contact us today to increase your chances of a successful Tier 1 investor visa.