Investment and Entrepreneurs
The UK government promotes two main immigration categories for individuals wishing to invest in the UK, Tier 1 Investor and Tier 1 Entrepreneur.
Tier 1 Investor
- Applicants must hold at least £2 million for investment into UK Government bonds, share capital or loan capital in active and trading UK registered companies.
- The investment figure of at least £2 million must be maintained throughout the duration of the Tier 1 Investor visa.
- The applicant may be joined by a spouse, civil partner or cohabiting partner, and their children.
- The visa is initially granted for 3 years and extendable. Settlement (permanent residence) is normally granted after 5 years under the category, with accelerated settlement possible for higher investment figures.
Tier 1 Entrepreneur
- This route is for migrants who wish to establish, join or take over one or more businesses in the UK
- Applicants must generally have access to £200,000 for investment, though the rules provide for a lower funding level of £50,000 in certain circumstances.
- The applicant may be joined by a spouse, civil partner or cohabiting partner, and their children
- A Tier 1 Entrepreneur applicant must speak English.
- The visa is initially granted for 3 years and extendable. Settlement (permanent residence) is normally granted after 5 years under the category, with accelerated settlement possible depending on the turnover of the business established or employment provided for settled UK workers.
The rules in relation to Tier 1 Investor and Entrepreneur applications strictly regulate the required evidence of investment funding, permitted investments and business activities. Applicants under Tier 1 Entrepreneur are in addition subject to a ‘Genuine Entrepreneur Test’ which requires a detailed portfolio of documentation supporting the proposed activities, including a business plan. Interviews of applicants often take place.
McGill & Co have practical experience of both categories. We have developed significant expertise supporting investors and entrepreneurs throughout the visa process, from initial acquisition of the visa, to advising on UK business activities and successfully acquiring settlement. We have in-depth knowledge of the policy and law, including frequent liaison with the UK Home Office policy team on contentious matters and have achieved critical results for our clients in challenging cases.