Background
The Tier 1 Investor category is available for high net worth, non-EU individuals making a substantial investment in the United Kingdom allowing them to settle more quickly than otherwise would be possible. Major investors will also enjoy more flexibility regarding settlement.
How to qualify
In order to qualify you have to have money of your own held in a regulated financial institution and disposable in the United Kingdom amounting to no less than £1,000,000. Alternatively you must own personal assets which, taking into account any liabilities to which you are subject, have a value exceeding £2,000,000. This money, amounting to no less than £1,000,000 loaned to you by a financial institution regulated by the Financial Services Authority, must be under your control and held in a regulated financial institution and disposable in the UK..
Applicants will not need to meet the English language requirement and the separate requirement for maintenance that applies to most other applicants under the points based system.
Spouses and dependants
A Tier 1 Investor applicant can apply for their spouse, civil partner, unmarried partner and dependant children to join them in the UK.
The dependants will be granted the same period of leave as the main applicant and will be able to work without restriction in the UK.
Length of stay and right to work
You will at first obtain permission to stay in the UK for three years as an investor. After three years you can apply for an extension of two years which will be granted if the UK Home Office is satisfied that you meet the requirements for the Tier 1 Investor extension application.
You have no work restrictions imposed on your stay in the UK, apart from the fact that you cannot work as a doctor in training by taking a training post within the NHS.
Permanent Residence in the UK
After five years as a Tier 1 (Investor) permit holder you should be able to apply for Indefinite Leave to Remain. If a person decides to switch over from another permit that leads to Indefinite Leave to Remain time spent in the other permit should normally be consolidated with the time spent on the Tier 1 (Investor) category. However there are exceptions and advice should be sought.
If you have invested £5 million or more in the UK you will be allowed to settle after 3 years. Should you have invested £10 million or more you will be allowed to settle after 2 years.
Major investors will also enjoy more flexibility regarding settlement as they will be allowed to spend up to 180 days (rather than 90 days) in any 12-month period outside the UK without affecting their right to settle in the UK.
