Individuals who successfully obtain Tier 1 Investor visas have the opportunity to apply for an extension on their leave to remain if able to provide the necessary evidence and satisfy the requirements of the points-based system.
The criteria that must be fulfilled to qualify for a Tier 1 Investor visa attention are different for those who apply before and after November 6, 2014. If the applicant’s initial leave was granted prior to this date, the basic requirements outlined by the Home Office are as follows:
- The applicant must provide evidence of having at least £1 million in their own money that is immediately accessible by them and directly under their control, or assets valued at a minimum of £2 million with a £1 million provided by a regulated and recognised financial institution in the UK.
- Evidence of having invested a minimum of £750,000 in the UK through government bonds, shares, active loans, registered UK firms – companies involved in property investment and property development activities excluded. Remaining funds being used to purchase assets or being maintained as a deposit with a recognised financial institution.
- The required minimum investment must have been made no later than three months following the applicant’s date of entry to the United Kingdom.
- If the investment occurred prior to the initial leave being granted, it must be no earlier than one year before the date of application.
Since November 6, 2014, new rules have governed the Tier 1 Investor Visa scheme as follows:
- The applicant is required to invest a minimum of £2 million through Government bonds, shares, active loans and registered UK firms.
- Investments must be completed and formalised no later than three months following the applicant’s date of entry to the United Kingdom.
- If the investment occurred prior to initial leave being granted, it must be no earlier than one year before the date of application.
There are instances where the Home Office is willing to accept delays in completion of the initial investment, but only when they could not have been predicted by and are beyond the control of the investor. Avoidable and/or predictable delays are grounds for a rejection of Tier 1 Investor visa applications and can lead to severe complications.
Points Awarded Under the Tier 1 Investor category
The terms of the Tier 1 Investor visa scheme state that the applicant must score a minimum of 75 points to qualify. Points are awarded as outlined below:
- The applicant has a minimum of £1 million under their direct control or has invested a minimum of £2 million in the UK through Government bonds, shares, active loans and registered UK firms = 30 points awarded
- The applicant has invested a minimum of £750,000 in accordance with requirements and the remaining balance has been used to purchase assets or placed on deposit in a regulated financial institution = 30 points awarded
- The applicant’s investment requirements were met no later than three months after the specified date = 15 points awarded
Those who qualify for a Tier 1 Investor visa extension are typically granted an additional two years of leave, after which they have the opportunity to apply for indefinite leave to remain. Please note that investors looking to invest larger sums of money in the UK may be exempt from visa extension requirements and have the option to apply for settled status sooner, as follows:
- £10 million allows you to apply for settlement in 2 years;
- £5 million allows you to apply for settlement in 3 years;
In all instances, eligibility for an extension is dependent on the investor abiding by the terms and conditions of their initial period of leave for the duration of their stay.
Tier 1 Investor Visa Extension Experts in Luton
Here at Aristone Solicitors, our business immigration experts have extensive experience in all aspects of investor visa applications and extensions. Whatever the nature and complexity of your case, we’ll provide the support you need to ensure a prompt and positive outcome.Whether ready to go ahead or simply considering the available options, we’d be delighted to hear from you. Call today to book an obligation-free consultation with one of our experts.