Tier One Investor route -
10 things you need
to know…
29 September 2014
Are you from outside the EEA and plan to enter the UK via the Tier One Investor route? If so, read on for valuable information ahead of your application.
- The basics – A current passport or other form of valid travel identification will be necessary to submit your application, along with a passport-sized coloured photograph and a blank page in your passport on which to put the visa.
- It’s all about the money – You must have at least £1,000,000 of disposable funds available to invest in the UK. Please be aware that this figure may be increasing to £2,000,000 in the near future. Keep an eye out for the latest UK immigration news here at Smith Stone Walters!
- Proof of funds – You must provide proof of these funds and that they are held in 1 or more regulated financial institution. Your money can be held either in the UK or overseas at the time of your application.
- Loaned funds – This may not be an option to Tier One Investor applicants for much longer, but if this £1m has been loaned to you, it must have been issued to you by a UK-regulated financial institution. In the case of loaned funds, you must also prove that you are in possession of more than £2m in personal assets (after liabilities have been taken into account), and that this amount either belongs to your or is jointly owned by your spouse or unmarried partner.
- Private funds – If the investment fund consists of your own money, then evidence of how much you have, where it is being held and where it came from (only necessary if you have had possession of the money for less than 3 months) will be required. Proof that these funds can be transferred to the UK and converted into sterling will also be necessary where applicable.
- How to apply – If you are applying from outside the UK you must apply online but will need to have your fingerprints and photograph taken at a visa application centre (known as your ‘biometric information’).
- Family – If you application is successful, your dependants (spouse, partner or children under 18 years of age) should be eligible to accompany you to the UK. Their ‘dependant’ visa application is normally filed (and considered) at the same time as your own.
- Already in the UK? – If you are already in the UK it may be possible to switch into the Tier 1 Investor visa category. Speak to Smith Stone Walters for more information in regards to ‘switching’.
- Language of documents – You will be asked to produce all sorts of documents during the application process. If any of these documents are not in English, you will be asked to produce a certified translation by The Home Office.
- Healthy? – You must produce your set of tuberculosis test results if you are a resident of any country on the following list which is to be found at this link: https://www.gov.uk/tb-test-visa/countries-where-you-need-a-tb-test-to-enter-the-uk.
Changes to the requirements for those wishing to enter the UK via the Tier One Investor route have been proposed, including increased investment funds of £2,00,000 and the removal of the provision of loaned funds. The proposed alterations have not yet become a reality but they are a stark reminder of how dramatically UK immigration law can change in the current climate.
We urge those clients wishing to enter the UK via this route to contact us here at Smith Stone Walters. We specialise in advising UK businesses and individual migrants in all aspects of UK immigration law. Moving people to the UK is what we do best.
For advice or guidance in applying for a Tier 1 Investor Visa, please contact your Smith Stone Walters adviser today.
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