Tier 1 (Investor) - update
The Migration Advisory Committee has today published their long awaited report on the Tier 1 (Investor) route investment thresholds and economic benefits.
In their report they have made a number of recommendations to changing the current Tier 1 (Investor) requirements. At present they are only recommendations and will need to be considered by Government. However, it is highly likely that the Tier 1 (Investor) route rules will be changed in the coming months.
The recommendations are as follows:
Minimum investment threshold
- That the minimum £1 million threshold be increased to £2 million;
- That the current restrictions on permissible investment instruments be relaxed so as to permit wider investment activity;
- That the provision that allows investment funds to be sourced by a way of a loan be removed;
The premium route – where higher investment funds lead to an accelerated route for settlement
- That the government relaxes residence requirements for those who make use of the premium route (so would only need to be resident in the UK for 90 days per annum);
- That there only be a limited number of premium route visas issued each year, of 100, with interested applicants invited to submit a single, sealed bid;
- That the reserve price for the bid be set at £2.5 million, whereby £2 million will be invested into the UK, and a gift of £500,000 donated to the UK Government (to put the money into a specific good causes fund).
These are at present recommendations, however it is highly likely that the there will be a Statement of Changes to the Immigration Rules and that the Tier 1 (Investor) route will be changed, and that the current requirement of £1 million be doubled to £2 million.
Therefore, if you are thinking of entering the UK under the Tier 1 (Investor) route it would be advisable to do it now under the current rules as presently you only need to invest £1 million in the UK for the five year period.
Posted on Feb 23, 2014.