Coming to the UK on an investor visa/Tier 1 investor
Introduction
UK immigration law provides the opportunity for wealthy people who wish to invest in the UK to emigrate to the UK with their families and eventually acquire indefinite leave to remain and British citizenship for themselves and their family members. Unlike many other immigration categories, the investor visa does not have any English language requirement.
There are specific financial requirements which have to be met, both when an applicant applies for an investor visa – which is initially granted for three years – and when they apply for a further extension to their investor visa. After living in the UK for five years on an investor visa an applicant may apply for indefinite leave to remain in the UKfor themselves and their family. After a further year of living in the UK an applicant may apply for British citizenship.
Living in the UK and British Citizenship
The United Kingdom consists of England, Scotland, Wales and Northern Ireland. Although the different nations of the UK each have a sense of their own identity, they are all pervaded by a sense of “Britishness”.
There are great advantages to living in the UK and to holding British citizenship. The UK has a long tradition of liberal democracy, and of political moderation and compromise, which continues to the present day. In the late 17th century it was the first country in the world to create a “constitutional monarchy”; an arrangement which still holds good today, in the UK and elsewhere. Unlike other European countries, the UK has had no civil wars or pitched battles since the mid-18th century; its historical stability is one of the reasons why it was the first country in the world to have an industrial revolution and why it was able to build a great empire and become, in the 19th century, the “Workshop of the World”.
Today things have changed somewhat, but the UK is still one of the world’s largest economies and London is still the world’s leading financial centre. Despite being a small collection of islands with a population of only 60 million, the UK is one of world’s leading players in both the financial and political fields.
The UK offers an environment which offers a rich culture and history but also a thriving economy and keen business sense. The financial expertise of the City of London is respected worldwide and the pound sterling is one of the world’s leading currencies.
Because of its relative wealth and political stability, for hundreds of years the UK has been an important destination for migrants. Many of the larger towns and cities have highly ethnically diverse populations. All migrants can, if they choose to, find compatriots in the UK. And there are very different lifestyles available. If you live near the centre of a major city such as London, Manchester or Edinburgh you will experience a lively, cosmopolitan environment. Or you may wish to live in the suburbs, where you will have the advantages of a quiet lifestyle and easy access to the metropolis. Or you may live in the depths of the countryside, far away from all the hustle and bustle.
And if you are thinking of buying property in the UK, 2008/2009 is a good time to do so. Property values have in recent years been very high, but now they are becoming more affordable. There are properties in the UK of the most modern, up-to-date style, but many properties available are of a more “historical” kind. Many people choose to live in 18th-century or 19th-century properties; some live in properties that are even older. British builders and architects have, over the centuries, created attractive and distinctive architectural styles, and Georgian and Victorian properties constitute a very large proportion of the UK property market. There is something to suit every taste, historical or modern.
The standard of British education is recognised to be one of the highest in the world and British qualifications carry a correspondingly high status. Students from all corners of the globe come to the UK in their thousands to study. Universities such as the Universities of Oxford, Cambridge and London have a world-class reputation. Many of the important figures in the world - royalty, politicians, businesspeople, artists, both of today and of the past - have been educated at British universities.
As the UK is a member of the EU, British citizenship enables one to travel freely throughout the EEA countries. It also offers advantages in travelling to some countries outside the EEA and provides the protection of the British diplomatic service.
The UK, then, offers a unique lifestyle: a mixture of the old and the new; of tradition and modernity; and a sense of the British values of justice and “fair play”. Voltaire, the French Enlightenment writer and philosopher, wrote: “The English, as a free people, choose their own road to heaven.” The modern-day British still like to believe that they retain the important values of their past.
The Investor Visa
The investor visa is properly known as the “Tier 1 Investor Visa”, and it is part of the new immigration points-based system.
There are two different ways in which an applicant can satisfy the financial requirements for an investor visa:
1. By having at least £1m which they own absolutely, which is held in a regulated financial institution (either in or outside the UK) and disposable in the UK;
or
2. By owning personal assets which, taking into account any liabilities to which they are subject, are worth at least £2m and, in addition to this, having at least £1m which has been loaned to them by a financial institution regulated by the Financial Services Authority.
If you wish to pursue the Option 2, we can refer you to a bank with which we work closely. The bank will offer you a package to assist you in the implementation of the £1m investment requirement. The total cost of this financial package will be no more than £170,000. No monthly interest payments are required.
The requirements for extending the initial investor visa are that the applicant still has the same amount of wealth as they did when they applied for the visa and, in addition, that they have invested at least £750,000 of their wealth in the UK.
How to Apply
Please speak to one of our advisers, who will be pleased to assist you. For our London office, please call +44(0) 20 7292 2977 and speak to Oliver Westmoreland. More…