According to figures released by the Office of National Statistics, 114 UK Tier 1 Investor Visas were granted in the third quarter of this year, up from 85 in Q2; an increase of 34% on the quarter and up 247% since the same period last year.
Our international Immigration consultants were involved in a significant number of these successful applications.
This indicates that despite initial fears of Brexit hurting the UK economy, investors from Russia and China continue to see Britain as a prime country to relocate to.
Overseas investor confidence in the UK has been further confirmed with news a US-based life sciences investment fund is planning to invest up to $1 billion to create a large biotech company in the UK. In addition, Facebook has announced it is planning to create 800 jobs in London over the next year, showing it is confident in the long-term growth prospects of the UK. Finally, two large pharmaceutical companies have stated they plan to invest more than £1 billion into research hubs in London and Manchester, creating over 1,000 new positions.
The UK Tier 1 Investor Visa is one of the most flexible ‘citizenship by investment programmes’ in the world. Applicants can bring their families to the UK with them, buy property (although not as a principle form of investment), and do not have to meet any English language requirements. In addition, depending on the amount of money you have invested, you can apply for settlement in a short length of time. If you invest £2 million, you may apply to settle after five years. £5 million will shorten this timeframe to three years, and an investment of £10 million will allow you to apply for Indefinite Leave to Remain after just two years.
To ensure you are meeting the requirements to extend your Tier 1 Investor Visa and/or apply for Indefinite Leave to Remain, it is crucial you receive the best Immigration advice from a leading London law firm such as OTS Solicitors, not only prior to making an application to enter the UK but throughout the life of your visa.
On 6th November 2014, significant changes to the Tier 1 Investor Visa were brought into force. Prior to this, there was a rush of applicants entering the UK on the investor route as the amount required to invest rose from £1 million to £2 million.
- £1 million in the UK – this money must be under your own control. If you have used joint funds with your husband, wife, civil partner, unmarried or same-sex partner who was not named on your original application, you must show, by way of documentation such as a written statement, you have the unrestricted right to transfer and dispose of the money in the UK; and
- Invested at least £750,000 in qualifying investments – these include government bonds and/or share capital or loan capital in active companies registered in the UK.
- Invested the balance of your £1 million in specified ways – if you have invested £1 million or more in qualifying investments, you do not need to show you have a balance of funds. However, if your qualifying investments amount to between £750,000 and £1 million, you must provide evidence of the balance of the funds which have been invested via the purchase of UK assets and/or by holding the funds in a regulated financial institution; and
- Invested the total amount as specified within three months of your specified date; and maintained it since (unless you were last given entry clearance or leave to enter or leave to remain as an investor under the Rules in force before 30 June 2008).
You will also need to provide evidence showing that throughout the three years and four months, you have maintained the level of investment required (£1 million). In addition, you must show the £750,000 invested in qualifying investments has been maintained throughout your leave to remain.
If the market value of your qualifying investments falls below the minimum (£750,000) it must be corrected before the end of the next reporting period or within six months of the date of competition of the sale, whichever is sooner.
You can apply online to extend your Tier1 Investor Visa and use the Super Premium Service. After your application has been prepared by one of London’s best immigration solicitors, a courier will collect your application forms, and a Home Office official will come to your house to collect you and your family’s biometric information (i.e. fingerprints, photographs, and signatures). By using the Super Premium Service, you will usually get a decision regarding an extension of your visa within 24 hours. At the time of writing, the cost was £10,500 per visit, plus the premium service fee for your application type.
Our multi-lingual, experienced, professional Immigration consultants can work with your advisors to secure a Tier 1 Investor Visa for you and your family. OTS Solicitors is highly ranked in the Legal 500 for Immigration, and we are regularly asked to provide comment on business Immigration matters to UK and international media outlets.
OTS Solicitors is one of the most respected Immigration Law Firms in London and is Legal 500 leading firm. By making an appointment with one of our immigration solicitors, you can be assured of receiving some of the best legal advice available in the UK today. Contact us on 0207 936 9960 to speak to one of our Immigration consultants.