Tier 1 Investor: An Overview
On 17 February 2022 the UK Government closed the Tier 1 Investor route with immediate effect. The following information is therefore no longer correct, and is retained for historical interest only.
What is the Tier 1 Investor visa?
The Tier 1 Investor visa is a route designed for individuals who are able to invest a substantial amount of money into the UK economy. This visa provides a great deal of freedom to holders. With effect from 29 March 2019 applicants will be required to show that they have held funds for at least 2 Years (prior to this the requirement was just 90 days).
How do you qualify?
To be eligible to apply for a Tier 1 Investor visa, you must demonstrate the following:
- Access to funds of at least £2 million investment into the UK. Applicants can demonstrate personal funds, or those owned jointly with or solely by their partners.
- Funds can be held overseas at the time of application, however care must be taken over any currently fluctuations. Funds must be cash ie it is not possible to rely on ownership of assets or possessions such as property. However any investments made in the UK within the 12 months before submission of an application can be included.
- Applicants must have opened a UK bank account for the purposes of investing funds and must provide evidence of having done so.
Other than the above there are no further requirements in order to obtain this visa. Applicants do not have to meet an English Language requirement and do not need to evidence any maintenance funds.
How long is Tier 1 Investor granted for?
Tier 1 Investor visas are initially granted for 3 years if applying inside the UK, or for 3 years and 4 months if applying from outside the UK. Applicants are able to apply for an extension for an additional 2 years, provided they are able to evidence that at least £2 million has been invested in the UK within 3 months of their 'specified date'.
The specified date is either the date that an applicant first came to the UK, or the date that the original visa was granted.
What restrictions are there?
Investment must be made by way of share capital or loan capital into active and trading UK registered companies.
Applicants are permitted to work and study in the UK on this visa, provided they are not doing so as a professional sportsperson or sports coach.
It is worth taking care when planning absences from the UK, as Tier 1 Investor holders will not qualify for Indefinite Leave to Remain (ILR) if they spend more than 180 days outside the UK in any year.
Can you include family members on Tier 1 Investor?
Applicants can include partners and children aged under 18 on this visa, they will be granted the same length of time as the main applicant. These family members will be able to work or establish their own businesses in the UK.
Does Tier 1 Investor lead to Indefinite Leave to Remain (ILR)?
Tier 1 Investor holders will become eligible to apply for Indefinite Leave to Remain after five years provided that they continue to satisfy the investment requirements. They will also need to satisfy the Knowledge of Language and Life in the UK requirement and ensure that UK absences are within permitted limits.
Family members will also usually be eligible for ILR after completing 5 years as a dependant.
There is an accelerated route available to Tier 1 Investor holders, whereby ILR can be granted in as little as 2 years. This accelerated route through investment total is organised as follows:
- Investment of £5 million – eligibility for indefinite leave to remain after 3 years in the UK.
- Investment of £10 million – eligibility for indefinite leave to remain after 2 years in the UK.
How can we help?
At White Rose Visas, we welcome your questions and enquiries, and are happy to offer a free thirty-minute initial consultation. There is no obligation to proceed with our services after this initial consultation.
We have assisted with many Tier 1 Investor applications in the past and look forward to hearing from you. You can find reviews from previous Tier 1 Investor clients here. To enquire, call 0114 303 9933, email info@whiterosevisas.co.uk, or use the quick and easy web form below.
