Knowing tier 1 investor and entrepreneur visa UK
Post on 29-Jul-2015
1. Knowing Tier 1 Investor and Entrepreneur Visa UK UK is a country of business opportunities and if you want to become a part of it then investing is the bestpossible thingyoucandoto take a headstart. Weavinga business, in fact, is also swift and hassle- free wayof gettinga permanent residency in UK as explained by several immigration experts. You can easilysneakintothiscountrybyapplyingTier1EntrepreneurVisaoreven Tier 1 Investor Visa if you are high net worth individual. UK immigrationruleshave beencomparativelyeasedtofacilitatethe foreign HNIs from countries other than those falling under European Economic Area and Switzerland to reside in UK and make investments. Once the visa application is accepted, processed and successfully granted you get a permission to stay in UK for 3 years subject to further 2 years of Tier 1 Entrepreneur Visa Extension or Tier 1 Investor Visa Extension. After completion of 5 years in UK, you become eligible for applying for permanent residency or Indefinite Leave to Remain (ILR). If you are low on investment budget then entrepreneur Visa is a better alternative. Apart from the requirement of outright investment of smaller sum you can also form an entrepreneurial partnership withsomeone else. Twoapplicantsare consideredunderthisvisaand the requisite financial threshold can evenlybe sharedbyboththe partners.InvestorVisais ideal, quiteeasyandfeature-richforhigh net worth individuals. However, post 6/11/2014 there have been certain changes in the criteria and parameters for Tier 1 Investor Visa. The requiredinvestmenthasbeendoubledfrom1 millionto 2 millionwhichisquite significant shift. In fact,thisis one of the mostsignificantincreaseafter1994. Earlier,only75% of the investment would have made your case eligible but now it has been raised to full 100% i.e. of the investment. To explain further,while 750000 was neededasanoutright investmentyouwill now needtoshellout 2 million. However, if you have applied prior to this date then the earlier provisions will stand. There is a little bit of reprieve in the new rules that have waived the 'Topping Up' requirements. You were required to make up for the gap in the earlier 1 million if the market value dropped below the minimum threshold. Now, you do not pay heed to any such threshold. You need to raise 2 million outrightandthe source of fundmust not be in the guise of any loan. The first impression that one gets by comparing these changes is that the Visa regime has been toughened for HNIs. But it has been observed that HNIs have been seen prompt enough to shell out even 5 and even 10 million as investmentforspeedyvisaapproval.Afterall, the money is being investment in a country of immense business opportunities. The investor visa does away with any work permit required from the sponsor which makes it quite easier for HNIs for permanent residency in larger perspective. Investor visa also automatically allows the person to take his spouse and children below 18 years to reside UK.