The United Kingdom has been attracting people for the last two centuries. Many thousand immigrants have now made it their home, regardless of their race and religion. It still is a magnet as its London, its capital, is one of financial hubs of the world. Now all these factors have contributed to make UK a truly multicultural country.
To be able to migrate to Britain, you have to sound financial resources or qualifications of a high order. This melting pot of Europe is home to people more than 150 odd countries. It is nice place to work, study, reside and invest in.
If one wants to get there on an investor visa from the UAE, the applicant must apply for a Tier 1 Investor Visa, also known as a Tier 1 Entrepreneur Visa.
The other attraction of living in Britain is that it is the fifth-largest economy in the world, with world-class quality of living and education. If you get a UK Tier 1 Entrepreneur Visa, at first, you will be granted limited residency, you can travel to 174 countries without a visa, your documentation submission process would be less lengthy when compared with most other developed nations, there is no age, language or education barrier, you do not need adequate business experience either, it allows you to obtain residency even in just six to nine month duration and allows you to open a bank account in a UK bank.
All applicants, however, needs to attend an interview with a UK High Commissioner and appear for IELTS after getting a permanent residency to obtain citizenship of that country.
Under the Tier 1 Entrepreneur Visa, an applicant must invest up to £2 million in the UK. The processing time of this visa is said the shortest for any investor visa applications in the G8 countries.
The capital that the individual is investing must be invested in the UK through bonds of the government of UK, loan capital in UK-registered companies that are active ad trading. But one cannot invest in offshore companies.
As was specified above, neither business experience nor the ability to speak in English is required. But nationals of some countries such as Nigeria, Russia, China and others must take a tuberculosis test before they submit their application. With this visa, investors are allowed to be employed or be enrolled in course of study within the country.
When one applies for this visa, the UK expects that the applicant and his family intends to make this country their primary home. To be granted ILR, or permanent residency, the principal applicants and their spouses must not be spending over 180 days per year outside the UK. All children who applied as dependents will also be granted ILR only if both the parents become eligible for ILR.
The individual will be initially eligible for the Tier 1 visa for 40 months. The individuals must make the investment worth at least £2 million within three months of their entry into Britain and it should be maintained all through the period of leave.
After the initial 40 month period, the applicant should apply for an extension of stay. The government of UK will grant a two year extension to reside within the UK the investor’s entire, provided the individual has met the criteria to leave to enter.
The British government also introduced an accelerated route for investors to bag permanent residence through an accelerated route. Here, the entrepreneur has to invest a minimum of £10 million, through which they can settle after two years. Alternately, they can settle after three years if they invest a minimum of £10 million. Therefore, investing more amount will fast track the main applicant’s path to permanent residence. This also paves way for their spouses and dependent children to obtain a permanent residence faster.
Children below 18 can only be qualified as dependents. On the other hand, with investor visas, the applicants cannot automatically bring in their dependent parents. In this case, the parents would have to apply under a different category of visa to stay in the UK. Parents may, however, consider applying for a visa of Antigua and Barbuda, which would then allow them to enter the UK easily and allow them to stay there for up to six months continuously once.
If you are looking to apply for a UK Tier 1 Investor visa, get in touch with Y-Axis, a premier immigration consultancy firm, from one of its 35 global offices.