Tier 1 (Investor) is the category under the Points Based System for high net worth individuals making a substantial financial investment to settle in the UK.

From 6 April 2011 foreign investors have been given extra incentives to come to the UK. They can settle quicker if they invest large sums of money and will be able to spend longer periods outside the UK without losing their eligibility for settlement.

• Either by providing documentary evidence of having at least £1 million of one’s own money held in a regulated financial institution and disposable in the UK: 75 points (max.)
• Or by providing documentary evidences of having personal assets worth more than £2 million and also having arranged a loan of £1 million from any financial institution regulated by FSA: 75 points (max.)

The applicant must claim 75 points using one of the above-mentioned options to qualify for this visa.

There are no English language or maintenance requirements for Investors.

Investments and source of funding

The money should be held in the bank account for 3 months prior to application. If the money has been held in the bank account or portfolio for less than 3 months, then it is necessary to give specified evidence of the source of the money. The source of funding in this case can be one of the following:

• Gift
• Sale deed
• Evidence from a business
• Will
• Divorce Settlement
• Award or winnings

The minimum investment required is £1 million, which is enough for the initial application, though according to the new rules the qualifying period for settlement depends on the sums invested, so there are 3 categories:

• £1 million and more
• £5 million and more
• £10 million and more

Money can be invested within 3 months of entry to the UK in proportion: 75% of the capital by way of UK Government bonds, share capital or loan capital in active and trading UK registered companies other than those principally engaged in property investment and 25% as other assets; or the whole of the amount can be invested in UK Government bonds, share capital or loan capital in active and trading UK registered companies.

Money should be disposable in the UK which means that it is held in a UK based financial institution or, if held outside the UK, it must be freely transferable to the UK and convertible to sterling. It can include money or assets belonging to the applicant's spouse, civil partner or unmarried or same-sex partner, provided that specified documents are provided to show that the money or assets are under the applicant's control and that he/she is free to invest them.

Dependants

Tier 1 (Investor) migrants will be able to invite their spouse/unmarried partner/civil partner and children under 18 years of age to join them as dependants. The dependants will be given full rights to work in the UK apart from working as a Trainee Doctor/Dentist or professional sportsperson or sports coach.

Duration of Tier 1 (Investor) and settlement

First time applicants will be given 3 years’ and 4 months’ leave to enter or three years’ leave to remain if they switch from another immigration category.

Qualifying period for settlement (ILR)  is:

• 5 years if £1m invested; or
• 3 years from the point when £5m is invested; or
• 2 years from the point when £10m is invested.

Therefore those who invest £1m will require a visa extension for 2 years to enable them to complete five years’ residence in the UK and apply for ILR.

The requirements relating to naturalization applications have not been affected and even if they obtain ILR in two years by investing £10 million in the UK economy they would still be required to wait for another 3 years and comply with the residence requirements in order to apply for naturalization.

Allowable absences

The Tier 1 (Investor) migrants will be allowed to remain outside the UK for maximum 180 days in any calendar year without losing their right to apply for permanent settlement after 2 years (£10 Million investment), 3 years (£ 5 million investment) or 5 years (£1 million investment).

Extension Application

Migrants who have invested the minimum of £1m will require a visa extension for 2 years to enable them to complete five years residence in the UK and apply for ILR.

The applicant has to score 75 points under this section which can be claimed-

- By providing documentary evidence that the applicant has money of his own under his control in the UK amounting to not less than £1 million (Max. 30 Points)

Or

- By providing documentary evidence that the applicant owns personal assets having a value exceeding £2 million and the applicant has money under his control held in a regulated financial institution and disposable in the UK amounting to no less than £1 million that has been loaned to him by a financial institution regulated by the FSA (Max. 30 Points)

- By providing documentary evidence that the applicant has invested not less than £750,000 of his capital in the UK by way of UK Government bonds, share capital or loan capital in active and trading UK registered companies other than those principally engaged in property investment (Max. 30 points)

- By providing documentary evidence that the investment has been made within 3 months of obtaining entry clearance/leave to enter/leave to remain and that the investment has been maintained for the whole of the remaining period of that leave (Max. 15 points)

Or

By providing evidence that the applicant has or was last granted entry clearance, leave to enter or leave to remain as an Investor (Max. 15 points)

The applicant can only claim 75 points if he can provide the relevant documentary evidence and claim points in the way mentioned above.

Switching Rules

Into Tier 1 (Investor):-

Following persons will be able to switch into Tier 1 (Investor):

• A highly skilled migrant
• A Tier 1 (General) migrant
• A Tier 1 (Entrepreneur) migrant
• A Tier 1 (Post – Study Work) migrant
• A Business Person
• An Innovator
• A Tier 4 student
• A student, student nurse, a student re-sitting an examination or a student writing up a thesis
• A Work Permit holder
• A writer, composer or artist
• An Investor

Please note that the rules of switching are very strict and no one else is allowed to switch to Tier 1 (Investor) while remaining in the UK, unless there are exceptionally compassionate circumstances.

Administrative Review (Entry clearance applications only)

If the entry clearance application is refused by the Entry Clearance Officer in the British Diplomatic post, the applicant will be given a right of review of the decision that must be exercised within 28 days of the date of service of decision. The applicant will only be able to rely on the information and documents already submitted with the application and will not be allowed to submit any fresh evidence with the review request.

It is therefore strongly advised to seek professional help when making a review request.

Appeals (In-country Applications only)

Applicants whose Tier 1 applications are refused will be given full rights of appeal, provided they are not left with any leave to remain in the UK at the time of the decision. In these appeals, applicants are no longer allowed to make use of fresh evidence in order to challenge the decision of the UKBA (unless appealing on human rights, asylum or race discrimination grounds) and can only only on the evidence submitted with the application. The applicant will have 10 working days from the date of service of decision to lodge an appeal against that decision.

It is strongly advised to seek professional assistance in lodging an appeal against any decision of UKBA.

What services can we offer?

• We can advise on the procedure, legal and evidential requirements and merits of making an application to the UKBA or entry clearance post.
• We can provide assistance in completing the application forms and advise on required supporting documents
• We can advise and represent our clients in making representations in support of their immigration matters
• We can advise and represent our clients’ dependants in order to seek dependant visas in line with the visa of the main applicant
• We can lodge an appeal (in-country only) or make a request for an administrative review if the applicant`s entry clearance application is refused
• We can advise in making applications for indefinite leave to remain (ILR) for those who have already completed their relevant residence period in the UK

Whatever the case, we are here to help, assist, advise and represent our clients in relation to any aspect of their immigration matters.