On 16 October 2014 the Home Office announced significant changes to the Tier 1 (Investor) Visa route following recommendations from the Migration Advisory Committee (“MAC”).
After the MAC’s recommendations 1st Citizen UK had predicted that the proposed changes would be implemented soon – advising prospective applicants to apply ASAP in order to benefit from the current immigration rules.
The latest changes include:
i) increase of the minimum investment threshold from £1 million to £2 million (The £5 million & £10 million options to accelerate settlement are still as before);
ii) the removal of the “topping up” requirement which was mandatory under the previous rules if the investment’s market value fell below the required level;
iii) the removal of the “loan route” option, which allows applicants to use borrowed funds to make their investment in the UK;
iv) the requirement to invest full £2 million instead of investing 75% with remaining 25% invested in real estate (property); and
v) transitional arrangements so that the current Tier 1 (Investor) visa holders are not subject to these changes when they apply for extensions or for settlement (indefinite leave to remain)
Tier 1 Investor Visa Changes Effective from 6 November 2014
These changes in the Tier 1 Investor Visa scheme will come into effect on 6 November 2014 and will apply to applicants granted the Tier 1 (Investor) Visa on or after this date.
As these changes will be effective from 6 Nov 2014, those who may want to benefit from the lower investment threshold of £1 million are advised to apply before 5th of November.
1st Citizen Immigration Lawyers in London are offering an expedited premium service which will ensure that the Tier 1 Investor Visa applications are prepared and submitted well before the new rules come into effect. If you’d like to take advantage of our premium service, you should get call or email us at 0203 4755 321 / email@example.com .