The Tier 1 Investor visa category is designed for affluent individuals who have the willingness and capability to invest a minimum of £2,000,000 in the UK. This visa allows investors to work, study, and conduct business activities in the country, and they can also bring their dependents along. Typically, after a period of 5 years, Tier 1 Investor visa holders are eligible for settlement in the UK. However, those who make larger investments may be eligible for accelerated settlement.

In March 2019, the requirements for the Tier 1 Investor visa were made more stringent following a government review. As part of the application process, applicants must now demonstrate the following:

1. The minimum investment amount of £2 million.
2. The investment funds belong to either the applicant, their spouse, or civil partner.
3. The funds are held in regulated financial institutions, and the UK bank where the funds are held must confirm that all necessary due diligence checks and Know Your Customer inquiries have been conducted.
4. The funds are available for transfer and investment in the UK.
5. If the £2 million has been held for less than 2 years (previously 90 days), the applicant must provide evidence of the source of funds.
6. The Home Office may refuse the visa if there are reasonable grounds to believe that the funds used for investment violated exchange controls.

In summary, the Tier 1 Investor visa requires a significant investment in the UK, with stricter regulations in place since March 2019. Applicants must meet various criteria to demonstrate the legitimacy and availability of the funds for investment purposes.

UK Investor visa: 2 Year Route

The Tier 1 Investor visa for the UK does not mandate that investment funds must be held for a minimum of 2 years. If you have held your investment funds for less than 2 years, you can still qualify for the visa if the source of the funds can be demonstrated through the following means:

1. The funds were received as a gift by you, your spouse, civil partner, unmarried or same-sex partner within the 2 years preceding the date of application.
2. The funds are proceeds from the sale of assets such as business or property within the 2 years prior to the application.
3. The funds are held in your business, your spouse’s, civil partner’s, unmarried or same-sex partner’s business.
4. Inheritance received under a will within the 2 years prior to the application.
5. The funds are proceeds from a divorce settlement received within the 2 years immediately preceding the date of application.
6. The funds are from a financial award or winnings.
7. Any other source that can be documented and independently corroborated.

If you have held your investment funds for at least 2 years, there is no requirement to provide specific evidence of the source of your funds. However, it is still necessary to satisfy the Home Office that your investment funds were obtained lawfully. Currently, there is no obligation to provide an independent audit of financial and business interests as part of the Tier 1 Investor visa application.

Tier 1 Investor UK bank account Rule: the legal requirement

Tier 1 applicants are required to have opened a UK bank account before submitting their initial Tier 1 Investor visa application.  In this post, we look at the basic requirements of the UK bank account rule for Tier 1 Investors and the various ways in which the UK bank account rule may be satisfied.

The Immigration Rules for Tier 1 Investors require that in an initial application for entry clearance or leave to remain as a Tier 1 Investor, the applicant must provide a letter issued by an authorised official of a UK regulated bank, on the official letter-headed paper of the institution.

The letter must be dated within the three months immediately before the date of the application and confirm that:

(i) the applicant has opened a UK bank account for the purposes of investing not less than £2 million in the UK;

(ii) the UK bank is regulated by the Financial Conduct Authority for the purposes of accepting deposits; and

(iii) the UK bank has carried out all required due diligence checks and Know Your Customer enquiries in relation to the applicant.

However, a policy document published by the Home Office suggests that the so-called UK bank account rule is more flexible than it may initially appear.

How long is a UK Tier 1 Investor visa valid for?

Your initial Tier 1 Investor visa will be valid for either 3 years and 4 months (if applying from overseas) or 3 years (if applying from within the UK).

You will need to invest at least £2 million in actively trading UK companies within 3 months of entering the category. You will then need to maintain your investment.

You will be able to extend your stay as a Tier 1 Investor visa holder for a further 2 years, before qualifying for indefinite leave to remain (settlement) after 5 years. There is also an accelerated route to settlement as a Tier 1 Investor migrant after either 3 years (if you invest at least £5 million) or 2 years (if you invest at least £10 million).

In order to settle in the UK as a Tier 1 Investor, you will need to spend not more than 180 days outside the UK in any 12-month period and, unless aged 65 or over, have sufficient knowledge of the English language and Life in the UK.