For high net worth individuals looking to make an investment of at least £2 million in the UK, the Tier 1 Investor Visa opens up a wealth of opportunity. Following the highly anticipated Statement of Changes to the Immigration Rules: HC1154, the UK is reporting the following changes:
- Applicants are required to maintain their investments. A change is being made to clarify that, while applicants may withdraw interest and dividend payments generated by their qualifying investments from their portfolios, they may not do so if these were generated before the applicant purchased the portfolio.
- As evidence of their investment, applicants must currently submit portfolio reports signed off by a financial institution regulated by the Financial Conduct Authority. A technical change is being made to require institutions to confirm that the funds have only been invested in qualifying investments and that no loan has been secured against those funds. This change will put a further obligation on financial firms to scrutinise the suitability of applicants’ investments, in addition to their own due diligence.
Minor changes have also been made to the Tier 1 (Entrepreneur) category, for applicants coming to the UK to set up, take over, or be involved in the running of a UK business. Two amendments are being made to:
- make clear where letters from legal representatives confirming signatures are required; and
- restore a provision for accountants to confirm that investment has been made on an applicant’s behalf.
The United Kingdom made up of England, Wales, Scotland and Northern Ireland, is a leading international hub of culture, entertainment, education, business and finance. The UK enjoys political and economic dominance on a global level, making it a popular relocation destination for investors and entrepreneurs.
The country boasts some of the best educational institutions in the world, from pre-school to university. London is a leading global city and the world’s most influential financial centre. The city has the highest GDP of any city in Europe and houses the corporate headquarters of numerous multinational corporations, financial institutions, professional firms and major organisations.
Benefits of the United Kingdom’s Investor Visa Programme include:
- The inclusion of the applicant’s family in the visa application;
- The ability to apply for permanent residence (i.e. Indefinite Leave to Remain) after 5 years, and citizenship after obtaining permanent residence;
- Citizens of the United Kingdom may travel visa-free to approximately 174 countries and territories.
Clients who decide to invest with us will gain thorough support for their needs through a bespoke and comprehensive service delivery.
Throughout the residency application, Global Citizen Solutions works with you every step of the way. We provide clear guidance to the Tier 1 Visa investment process, ensuring that your investments match your risk profile and that the appropriate investment deadlines and performance criteria are met. Contact us today to discuss your needs.