One route to permanent settlement in the UK is as an Investor. This is known as being a Tier 1 (Investor) migrant under the points based system.
What are the requirements?
- You must have a minimum of £2,000,000 to invest in the UK
- Your funds have to be held in certain regulated financial institutions and you must be free to spend the funds in the UK
- Your money can be in the UK or overseas when you apply
- You have be able to prove that the money belongs to either you or your husband, wife, unmarried or same-sex partner
- You have to open an account at a UK regulated bank to use for your funds
- You have to be 18 years old or over to apply for this visa
Can I make the application from within the UK?
Normally no – you have to apply for a visa from abroad. There are some exceptions including:
- Those in the UK on a Tier 1 (General) visa
- Those in the UK as Tier 1 (Entrepreneur) visa
- Those in the UK under any Tier 2 category
- Students in the UK on a Tier 4 visa.
How much are the Home Office application fees?
Entry clearance costs £1,623 for the main applicant, with the same fee for dependants. In addition you have to pay the Immigration Health Surcharge which is currently £400 per person per year applied for, but is due to increase to £624 per person per year applied for in October 2020.
Can my family come with me?
Yes, you can sponsor your partner and dependant children under the age of 18 to come with you as your dependents.
Can I work or study?
Yes. The only exceptions are that you cannot work as a professional sports person or sports coach, and apart from in specified circumstances, you cannot work as a doctor or dentist in training.
How quickly can I get permanent settlement in the UK?
The usual route is permanent settlement after 5 years in the UK as an Investor. Your dependant family can apply for settlement at the same time. However, if you invest £5,000,000 you can apply for settlement after 3 years, and if you invest £10,000,000 you can apply for settlement after 2 years.
Applications for leave to enter the UK as an Investor can be complex and we strongly advise that legal advice is sought before these applications are made. Bindmans immigration team is experienced in making successful applications under the Tier 1 (Investor) scheme.