In today’s global economy, countries often try to attract the best talent and investment from around the world. In exchange for significant investment, citizenship can be gained, such as in the UK through the Tier 1 Investor Visa programme. While this sounds like a straightforward transaction, there are specific criteria that must be met.
An immigration solicitor in London, such as Saracens Solicitors, can guide clients through the Tier 1 Investor Visa scheme, ensuring that they make the right investments to secure indefinite leave to remain, which can ultimately lead to citizenship further down the road.
How does the Tier 1 Investor Visa work?
For those who do not have citizenship in a European Economic Area (EEA) country and have a minimum of £2 million to invest in the UK, the Tier 1 Investor Visa is applicable.
If a Tier 1 Investor Visa is granted, the applicant and their immediate family can apply for indefinite leave to remain after 5 years. After spending at least 5 years living in the UK, with one of those years being as a permanent resident, the applicant and their family can apply for citizenship of the UK. A London immigration solicitor can help at every stage of this process.
What are the requirements for a Tier 1 Investor Visa?
Applicants must be aged over 18 and have at least £2 million of their own money, or their spouse or civil partner’s money, or money jointly shared with their spouse or civil partner, to invest in the UK. They must have unrestricted access to this money. This money must be kept in a UK-regulated financial institution or, if kept in a foreign-regulated financial institution, it must be freely transferable to the UK where it can be converted to Sterling. Applicants must also open a UK bank account.
What investments are eligible?
Investments can be made into share or loan capital in active, trading UK-registered companies or UK government bonds. Investments made in companies largely involved in property investment, management or development do not count as eligible contributions for the Tier 1 UK Investor Visa.
Applicants who are unsure of whether their potential investments meet these criteria should consult a London immigration solicitor.