If you’re a ‘high net worth individual’ planning to invest in the UK, either by setting up a new business in Britain or by investing into an existing UK business, you will need a Tier 1 entrepreneur visa or a Tier 1 investor visa. Ash Norton Solicitors can help you check your eligibility and file an application, today…
The Tier 1 investor visa and the Tier 1 entrepreneur visa each have different eligibility criteria. To check if you qualify for either Tier 1 visa, use the Ash Norton Solicitors checklist below…
Eligibility Criteria Checklist for the Tier 1 Investor Visa
The Tier 1 investor visa scheme offers many benefits, not least a visa for UK entry for the main applicant and all immediate family members. Initially, a UK investor visa is granted for a period of three years and four months, with an option to extend your stay for a further two years, provided that you invest a sum of £1 million in the UK.
The amount of money you invest will determine the number of years after which you can apply for indefinite leave to remain (ILR) in the UK. The eligibility criteria for a Tier 1 investor visa and qualification for ILR in the UK are as follows:
- An investment sum of £1 million – eligibility period for ILR in the UK is five years.
- An investment sum of £5 million – eligibility period for ILR in the UK is three years.
- An investment sum of £10 million – eligibility period for ILR in the UK is two years.
- You must be aged 18 or over to apply.
- You must be able to prove that the monies invested belong to either you or your husband, wife, unmarried or same-sex partner.
- You must have opened a UK bank account.
- Your funds must be held in one or more regulated financial institutions.
- Your money must be free to spend in the UK.
- You must apply online (except if you’re applying from North Korea).
A Tier 1 investor visa holder is allowed to spend a maximum of 180 days a year outside of the UK. Meanwhile, first category investors qualify to apply for British Citizenship after six years in the country. Those in the second and third categories are eligible for UK naturalization after five years.
Checklist | Types of Investment Accepted to Qualify for a Tier 1 Investor Visa
An investment in the UK through the Tier 1 investor visa program can be made in the following ways:
- UK government bonds.
- Share capital or loan capital in active and trading companies registered in Britain.
- Investment in share or loan capital in active and trading companies registered in Britain. Investment can include foreign currencies, while 25% of the investment funds can be held in a personal account or invested into real estate.
As an alternative to investing personal funds, you can borrow any of the required investment amounts from a UK bank, provided that you invest it in accordance with Tier 1 investor visa requirements.
This is only an option if you can demonstrate a net worth of £2 million or more, or a net worth of £10 million or more (with a view to borrowing £5 million), or a net worth of £20 million (with a view to borrowing £10 million).
Eligibility Criteria for the Tier 1 Entrepreneur Visa
The Tier 1 entrepreneur visaallows you to establish or take over the operation of one or several businesses, and bring family members to the UK. Initially, a UK entrepreneur visa is granted for a period of three years and four months, with an option to extend your stay for a further two years. You can apply for ILR after five years in Britain.
The eligibility criteria for a Tier 1 entrepreneur visa and qualification for ILR in the UK are as follows:
- An investment sum of £50,000.
- An investment sum of £200,000.
- You must meet the English language requirement.
- You must be able to support yourself during your stay.
- You must be at least 16 years old.
An investment in the UK through the Tier 1 entrepreneur visa program can be made in the following ways:
- Through one or more registered venture capital firms.
- Via one or more UK entrepreneurial seed funding competitions.
- Using one or more UK government departments.
File a Tier 1 Visa Application with Ash Norton Solicitors
If you tick all the boxes featured in this Ash Norton Solicitors checklist, you could qualify for a UK, Tier 1 visa. To discuss your eligibility status and potential investment options, talk to our expert, Tier 1 visa application lawyers Ealing, London, today. Call +44 (0) 2076293633.