Tier 1 Visa - Investor

Under tier one of the Points Based System (PBS) for UK immigration, candidates may apply to immigrate to the UK under one of four subdivisions.

The Investors category is designed for those who intend to make a substantial investment in the UK.

Although this is also a requirement of the entrepreneur category, the investment sum for those in the Investor category is much larger and no requirements to engage in business activities are in place.

Eligibility

Tier 1 visas, unlike all other tiers of the UK Points Based System, do not require applicants to be awarded a Certificate of Sponsorship from a licensed sponsor. UK immigration under all other tiers requires the sponsoring business, college or other institution to be licensed as a sponsor, and to provide them with a sponsorship certificate, enabling them to apply for entry clearance. Tier one replaces the Highly Skilled Migrant Programme (HSMP) and aims to allow the most highly skilled applicants to relocate to the UK as quickly as possible. However, while no sponsor is required applicants must reach a minimum point’s threshold based on a range or criteria.

General Requirements

The investor visa subcategory of the five-tier immigration system does not impose the general requirement for proficiency in the English language.

This requirement is mandatory for the General and Entrepreneur streams with a high level of proficiency required to pass. However, in the Investor category since applicants are unlikely to need to work, this requirement is deemed unnecessary.

Similarly, whilst the mandatory requirement that applicants must be able to financially support both themselves and their dependents is a feature of the other tier one-visa subcategories, it does not apply to the Investor category. By definition those investing sufficient funds to pass the requirements of this category do not need to undergo a maintenance test.

Specific Requirements

As with all categories of tier one, the Investor category requires candidates to meet or exceed a pass mark of 75 points. However, unlike other subdivisions of tier 1, for example the General category in which points are accumulated over a range of criteria, the 75 points for the investor scheme must be satisfied by one of the following.

• The candidate has a minimum of £1 million. The money must be their own and must be held in a regulated UK financial institution. The money must also be disposable in the United Kingdom.
• The candidate has personal assets to the value of more than £2 million taking into account any liabilities.
• The candidate has an amount of no less than £1 million, which is under their control and is held in a regulated UK financial institution. This may include money which has been loaned to them if the financial institution providing the loan is regulated by the Financial Services Authority.

Extending a Tier One Visa

A tier 1 immigration visa for the UK may be extended in all categories except the Post-Study Work category. Unlike the others, the Post-Study Work category is designed as a temporary bridge between study and employment and is granted for two years with no option to extend this period. Tier 1 visas in the Investor category, the General category and the Entrepreneur category are all granted for an initial period of three years, which can be extended by another two years. When applying for an extension, applicants will be assessed against a differing set of criteria. Unlike the initial set of criteria, Investor visa holders must accrue the 75-point pass mark over the following list of requirements:

The applicant must have either of the following:

• A minimum of £1 million of their own money in the UK - 30 Points.
• Personal Assets with a value exceeding £2 million taking account of liabilities - 30 Points.
• Money under their control which amounts to no less than £1 million. This may include loaned money from a provider who is regulated by the FSA.

In addition candidates must satisfy all of the following requirements:

• They must have invested a minimum of £750,000 in the UK. This must have been invested by way of either UK Government bonds or share capital or investment capital in active UK companies. This does not include companies whose main activities are property investment. Investment cannot be interpreted as placing deposits in a bank or building society.
• The investment outlined above must have been made within 3 months of gaining the tier one visa and must be maintained throughout the duration of the visa.

Switching To a Tier 1 Visa

Tier one visa holders may switch into another sub category if they satisfy the associated requirements. The one exception is that visa holders cannot switch into the Post-Study Work category. Holders of visas in tier 2 and tier 4 will also be able to switch into tier 1 as the PBS is fully implemented. However switching to tier 1 will not be allowed for holders of working holidaymaker visas or those in possession of tier 3 and tier 5 visas .

Tier 1 Visa - Entrepreneur

In the Entrepreneur category of tier one of the Points Based System (PBS), candidates may apply to immigrate to the UK based on a substantial investment by starting or assuming control of a UK business.

As with the other categories of tier 1 immigration, candidates applying as entrepreneurs do not need to have a sponsor in place. However, applicants must still reach a specified point’s limit based on both general tier 1 visa requirements and more specific criteria.

General Requirements

English Language Ability

In all but the Investor category of tier 1 visas, proficiency in the English Language is an important factor. The language requirement requires a pass mark of ten and candidates must be able to demonstrate one of the following.

• Candidates must have successfully completed an English Language test which conforms to or exceeds level C1 as defined by the Council of Europe's Common European Framework for Language Learning or;
• Candidates must come from a country in which English is the majority language or;
• Candidates must have studied and successfully completed a degree course, which was taught in English.

Maintenance

The maintenance requirement applies to all categories of a UK tier 1 visa without exception. A candidate immigrating to the UK must be able to financially support himself or herself and must be able to support any dependents who might accompany them. Like the English language requirement, this criterion has a pass mark of ten which must be met in order for an application to proceed. The required amount for the main applicant is £2800; for the first dependent the required amount is 2/3 of the sum for the main applicant with any dependents thereafter requiring 1/3.

Specific Requirements

As the name suggests the key specific requirements of the entrepreneur category are rooted in investment funds and the guarantee that a candidate will be assuming control of a UK business. To succeed, the pass mark of 75 must be reached by satisfying the following requirements.

Candidates must be able to satisfy the following criteria:

• They must have access to £200,000 - 25 points
• This sum must be held in a regulated bank account - 25 points
• The money must be disposable in the UK - 25 points

It is important to note that those candidates applying for a tier visa may not seek or undertake employment in the UK. This type of UK visa service is issued expressly to those who be starting or assuming control of a British based business. Applicants my start their own business, join an existing one or take over an established UK enterprise; however they may not seek employment in the manner of a General category tier 1 visa holder.

Extending a Tier One Visa

UK visas for tier 1 immigration can be extended if required with the sole exception of the Post-Study Work category. This particular subdivision is issued as a bridging measure and is granted for a finite period of two years. The other tier one visas are all granted for three years and can be extended by a further two years where required. The criteria for applying for a UK visa extension differ depending on the category; in the entrepreneur stream there is a pronounced difference between the criteria for initial application and those for an extension.

• Applicants must have invested, or had invested on their behalf a minimum of £200,000 in a UK business. This investment cannot include the value of residential property, and cannot be a director's loan.
• Applicant must, within three months have registered with HMRC as a self-employed person, registered a new UK business with the applicant as a director, or registered as a director of an existing UK enterprise.
• At the time of the extension application, the candidate must be engaged in activity within this business.

Employment Requirements

It is an essential requirement of an entrepreneur visa extension that the applicant can demonstrate positions of employment which have been created for people with UK settled status. In the case of new businesses, an aggregate of 2 positions, full time or equivalent, must have been created with each lasting for at least one year. In cases where the applicant has assumed control of a UK business, their investment and presence in the company must have created 2 positions similar to those outlined above.

At the time of making a visa extension application, no further requirements in English Language ability or financial self-sufficiency will be imposed in addition to those satisfied at the time of the original application.

Maintenance

Applicants from outside the country will be required to score ten points by proving they can support themselves and any dependants.