The United Kingdom has a five tier, points-based system in place to permit nationals from outside the European Economic Area to immigrate to UK and work and conduct business within its political boundaries. The system caters to business owners, investors and other individuals and is broken up into subcategories based on the amount of investment money you have access to. Bristol The Tier 1 investor visa is designed for high net worth individuals wishing to relocate to the United Kingdom on business temporarily.
This article gives you a deeper insight into the application process for the Tier 1 Investor Visa.
Are you eligible to apply for the Tier 1 Investor Visa?
Business owners with a higher investment balance prefer to apply for the Investor visa because the eligibility criteria is less stringent than the employer visa that also allows business owners to setup and run business in the United Kingdom. This distinction in stringency is the result of the different in the financial threshold. The applicant in order to apply for the investor visa scheme must have access to at least £1,000,000 disposable funds that he must invest in UK. The investment must be made in government bonds and share capital.
There is a provision wherein one can borrow the investment fund requirement of £1,000,000 from a third party. However, in this case, the applicant is also required to have £2,000,000 in personal assets. The funds must be held in a regulated financial institution. Fulfilling either of these criteria earns you 75 points under the points based system and qualifies you for this visa scheme.
The requirement to demonstrate the English Language ability is waived off. Since this scheme is reserved for the high net worth individuals, they are also not required to fulfill the maintenance ability criteria. Their ability to furnish £1,000,000 for investment purposes indirectly proves their ability to support themselves during their stay in the United Kingdom. Only those residing outside the European Economic Area and Switzerland need to apply for a UK visa.
In addition to this, you must be 16 years of age to apply for an investor visa.
Application and Processing Time
You must apply for the Tier 1 Investor Visa 3 months before to your date of travel. You will be intimated about the approval or rejection within 3 weeks of submission of the application.
If your visa application is accepted, you are permitted to stay for 3 years and 4 months in the UK. This visa scheme covers the applicant and his family that is his spouse and children below 18 years of age. It allows the applicant and his dependants to work as in seek employment, study or set up business in the UK.
After a certain number of years, you can apply for permanent settlement. The time duration after which you can apply for citizenship depends on the amount you invest.
· If you invest £1 million, you can apply to settle after 5 years
· If you invest £5 million, you can apply to settle after 3 years
· If you invest £ 10 million, you can apply to settle after 2 years.