Tier 1 Investor visa
UK is country of opportunity. The country’s population, resources and the government assistance always leads to different forms of opportunity for those who are willing to invest. The good news is that not only is the opportunity open for the citizens of UK, the opportunity of striking gold in the country is open to almost everyone around the world. With the right documentation and approval from the government, a business could be opened in the country. This form of setting is practically a win-win situation since you help key businesses in the country while you improve your personal wealth through the opportunity offered by the government.
This form of opportunity could be realized through Tier 1 Investor Visa. Tier 1 Visa comes in different categories and one of them is for investors (others are for general, entrepreneurs and post-study work). Tier 1 Investor Visa is regarded as a very unique form of visa. Although the investor still has to go to through the current point system for approval, the biggest factor for approval to this type of visa is through the amount of investment you will use in this country.
To be approved for this type of visa, the main requirement would be an investment of no less than £1 million. This amount should be placed in a financial institution in UK and should be proved to be solely owned by the investor. This amount should also be used in UK for investment purposes.
Since the required investment amount for the approval of Tier 1 Investor Visa is high, the amount could practically override some of the strict requirements to those who wish to enter the country under the Tier 1 Visa. The required 75 points system could be achieved if the applicant could reach £1 million in investment in UK.
If the applicant doesnt have 1 million in UK, the applicant needs to have an asset that reaches £2 million after liabilities.
Exemptions Enjoyed by Tier 1 Investor Visa
As previously indicated, Tier 1 Investor Visa enjoys a couple of exemptions. As long as the investor has £1 million ready for investment in the country, they should be granted with this form of visa.
The general requirement for Tier 1 (and most Tiers) Visa is English proficiency. This is a must for other Tier 1 Visa since they will look for a job once they enter the country. On the other hand, investors are here to create jobs and not to gain one. For that reason, the English proficiency requirement is no longer needed.
Another notable exemption enjoyed by Tier 1 Investor Visa holders is the exemption from showing financial independence. It's just logical since the person already has £1 million ready for investment the country – more than enough to support the applicant and the dependents of the applicant.
Extension and Transfer
The Tier 1 Investor Visa is only good for three years. If the holder wishes to extend, he or she must reach the 75 point system for extension. The required £1 million in available funds in UK still stands. However, additional requirement for approval should be fulfilled
The following are the additional requirements:
The visa holder should have invested at least 1/3 of the required amount. That means 1 750,000 should have been invested in a UK company or government bonds. The government is very strict in this area since they wanted to make sure that the holder is indeed investing in a UK company or at least in the government.
The visa holder should have started investing in less than three months after gaining the investor visa. The investor is not allowed to invest no less than the required amount.
Transferring to other form of visa is possible. But this is where the disadvantage of the Tier 1 Investor Visa shows up. Since the Tier 1 Investor Visa enjoys a good number of exemptions, they have to fulfill the said requirements especially in the English proficiency. Logically, this form of visa cannot apply for Tier 1 Post Study Visa.
Tier 1 Investor Visa could be considered as the easiest to achieve in terms of point system requirements. It's all based on the ability to invest by the applicant.