If you truly want to live in the UK, you must have already started exploring the possible avenues to achieve this goal. Immigration experts assert that investment is the best way to go about it. In this regard, applicants can apply for the Tier 1 Entrepreneur Visa or the Tier 1 Investor Visa.
Nationals of countries outside the European Economic Area and Switzerland are eligible to apply for these two visas. If accepted, the visa permits you to stay in the country for 3 years. You can seek an extension after the initial period of 3 years for another 2 years. On staying 5 consecutive years in the United Kingdom, you can submit a request for Indefinite Leave to Remain (ILR) or permanent residence.
There are several benefits of UK citizenship by investment and we have discussed a few of them below.
The Tier 1 Entrepreneur and Investor Visa each have different financial thresholds. For the entrepreneur visa, the applicant must have access to £200,000 in investment funds. However, there is a provision for £50k. This is an advantageous option because it entails a lower investment level. To add, there is a provision for forming an entrepreneurial team comprising two applicants. In this arrangement, the applicants can make arrangements for the investment funds by each contributing £100,000.
The UK innovator visa is designed for high-net-worth individuals. It requires a minimum of £1,000,000 disposable funds to invest in UK businesses. If the money is loaned, there is an additional requirement of £2,000,000 in personal assets. The advantage of this method is the ability to obtain a fast-track UK citizenship. Depending on the investment amount, the waiting period for permanent settlement is reduced. If the applicant invests £ 5 million, he can get a permanent settlement within 3 years while if the investment amount is £10 million, the applicant can apply for UK citizenship within 2 years.
No offer of employment required
Both the Tier 1 Entrepreneur and Investor visa allows the applicant or immigrant to set up a new business in the United Kingdom or invest in an already existing one. If you immigrate to any country for employment, you will need to have a work permit from the sponsor. The UK citizenship by investment scheme dispenses with the need for an offer of employment and thereby eases the process of applying for permanent settlement in the long run.
Besides the UK investment Visa criteria, there is anything much when it comes to qualifying for the Tier 1 investor visa and entrepreneur visa. The applicant will be required to demonstrate his English competency skills, prove his ability to support his stay in the UK, and undergo a health check to rule out the presence of any serious illness. There is an age criterion too. All this, expect the health check is waived off for the investor visa.
Permission to Take the Family Along
While applying for a personal visa, the applicant can also apply for the visas of his dependent’s, his spouse, and children below 18 years. The dependants are automatically included in the UK innovator visa scheme. They enjoy health, education, and work opportunities as just any other British citizen.
More Absentee days
If you want to qualify for a UK business visa, the absentee period should not exceed 450 days during the 5 years. It should be only 90 days in the 12 months preceding the citizenship application. The absentee time is good enough for anyone who has to manage a business in several countries.