Overview of the requirements of Tier 1 Investor Visa for an applicant
- Must be from outside the European Economic Area (EEA) and Switzerland
- Must be 18 years old or over
- Have access to at least £2,000,000 in investment funds, which has been held for a consecutive 2-year period
- No English language requirements for initial application
- No individual maintenance requirement
- Applicant and any adult dependents will need to provide an overseas criminal record certificate for any country that they have lived in for at least 12 months in the last 10 years
- Can work and study
- Holding amount of funds at least £2m belonging to applicant, family member or the two of them jointly
- The money is held in a regulated financial institution – FCA licence required
- UK Investment account is opened with a UK regulated bank for the purpose of investing the funds in the UK
- If Applicant have not held the funds for 2 years consecutively before the date of the application, applicant must also provide evidence of the source of the funds
- The Applicant can rely on money that is owned either jointly with, or solely by, your husband, wife, civil partner, unmarried or same-sex partner
Opening Bank Account in the UK
For the purposes of meeting this requirement, a “UK regulated bank” is defined as a UK based FCA regulated financial institution.
Applicant must provide a letter, issued by an authorised official of a UK regulated bank, on their official letter-headed paper which confirms that applicant have opened an account with that bank for the purposes of investing not less than £2m in the UK and the bank has carried all required due diligence and Know Your Customer (KYC) checks.
Obtaining British Passport via staying on Tier 1 Investor Visa
Initially applicant will be granted visa for 3 years and 4 months (or 3 years if processed in the UK). A subsequent extension can be applied for, providing all criteria are met.
Applicant must enter UK within 30 days after their entry clearance was granted, and all adults were registered with the with Overseas Visitors Records Office (Police Registration) within 7 days after arrival in the UK.
- £2m under applicant’s control in the UK – Applicant will be required to prove that they invested the funds within 3 months of their ‘investor visa start date
- Applicant have maintained at least £2 million of their own funds, under their own control, in a permitted investment in the UK
- Standard processing times for processing time is currently approximately 8 weeks, priority Service may be available for visa extension which should allow for a decision to be made within 10 working days.
Settlement – ILR
In order to settle in the UK as a Tier 1 Investor after 5 years, applicant will need to show that:
- They have invested not less than £2m of your capital in the UK by way of share capital or loan capital in active and trading UK registered companies
- They have maintained at least £2m of their own funds, under their own control in the UK
- Apply to settle after 2 years if you invest £10,000,000
- Apply to settle after 3 years if you invest £5,000,000
- Apply to settle after 5 years if you invest £2,000,000
- Enter with their family or they can join applicant at a later date during the term of their visa
Applicant will be required to demonstrate that they have sufficient knowledge of the English language and Life in the UK.
Moreover, they can spend up to 6 months outside the UK each year and still qualify for ILR. For settlement applications made from 11 January 2018, the Home Office will consider absences from the UK on a rolling basis, rather than in separate consecutive 12-month periods.
British Passport via Tier 1 Investor Visa
Indefinite leave to remain holders can apply for naturalisation one year after the grant of settlement (ILR) and become British Citizen.
The requirements for citizenship are as follows:
- The applicant must have passed English Language and Life in the UK test
- The applicant must be of good character and not have breached any immigration rules in the UK
- The applicant must have spent no more than 450 days outside the UK in the 5 years before the application
- The applicant must have not spent more than 90 days outside the UK in the 12 months before the application for Naturalisation
Different requirements apply to Tier 1 Investors who applied to enter the category under the Immigration Rules in force prior to 6 November 2014 and 29 March 2019.