The government of the United Kingdom has introduced on April 2012 a Tier 1 Visa regime aiming to attract wealthy individuals and entrepreneurs to the country.
- World-class financial centre
- Attractive place to live and work
- High-calibre universities and health centres
- Solid legal system
Requirements and Qualifications to be met by the Main Applicant:
The following conditions must be fulfilled by the Applicant to receive a Tier 1 Investor Visa:
a) the investor should have under his control an amount of no less than GBP 2 million,
b) the amount of GBP 2 million should be invested for five years, the latest within 3 months as from arrival to the country in UK government bonds, share capital or loan capital in active and trading UK registered companies.Investment in companies mainly engaged in property investment, property management or property development is not eligible,
c) there is no criterion for knowledge of the English language or maintenance,
d) the investor is allowed to work or study in the UK.
The following conditions must be fulfilled by the Applicant to receive a Tier 1 Entrepreneur Visa:
a) the investor should have under his control an amount of no less than GBP 200.000,
b) the amount of GBP 200.000 should be invested in a new or existing UK active and trading registered company,
c) there is a criterion for knowledge of the English language and maintenance,
d) the investor is allowed to work or manage only the company that he set up or invested to.
Duration and Renewal of the Residence Permit
The Tier 1 Visa is valid for 3 years and 4 months but the applicant can apply to extend this visa for 2 more years.
On April 6, 2011, the Government announced new rules which provide the ability to achieve Indefinite Leave to Remain in the UK (ILR), which is permanent residence, through an accelerated route. The new requirement is an increased investment.
An investment of GBP 10 million or more will provide for settlement after two years, and an investment of GBP 5 million or more will provide for settlement after three years, instead of the usual five years.
Who can be considered as a family member of the man applicant:
1. Spouse; and
2. Children under 18 years.
Procedure and time frame:
A decision on the applicant’s visa application is issued within approximately 20 days.