15 Mar 15.03.2019 Reforms to the Tier 1 (Investor) route
15.03.2019 Reforms to the Tier 1 (Investor) route
In the most recent statement,UK Immigration Minister Caroline Nokes confirmed that Tier 1 (Investor) route will stay open to potential investors.
However, a comprehensive review of the current Tier 1 (Investor) rules will take place in order to ensure that UK is better protected from illegally obtained funds, whilst ensuring that genuine investors have access to a viable visa route.
It is expected that changes will be made to enforce stricter restrictions on the source of funds of those applying under this route, together with changes to the investment regulations in order to bring a greater benefit to the UK economy.
It has been stated that an applicant will be required to prove that they have had control of the required investment of £2 million for at least two years, rather than 90 days,prior to the making of an applicationas well as provide evidence of the source of those funds. However, it is currently unclear what exactly the Home Office means by “control of funds”. From what we understand, this may mean that the applicant have owned these funds for the period of two years.
The applicants may also be required to disclose extensive financial information going back a number of years.
Under the new rules, investments in Government bonds may no longer be accepted for those entering the UK in the future in the revised investor category.The Government wants to strengthen the rules “to ensure investments are made in active and trading UK companies”.
Svetlova LLP has extensive experience in dealing with Tier 1 investor visas. Should you require any assistance in respect of this immigration route, please contact us on +44 207 129 129 6.