Having been ranked on the top position among few best places to live and work, United Kingdom mesmerises people belonging to all walks of life including skilled professionals, investors and businessmen. After offering state-of-the-art infrastructure, housing, education and health facilities, this European territory becomes an unquestionable choice of individuals, who are willing to improve their standard of living. Moreover, the rich history, beautiful countryside and culture also attract rich people across the world to visit this beautiful territory. After observing the deep interest of people live like a native resident of UK, the state government started offering different kinds of nationality programs to those who are not eligible to apply via naturalisation and acquisition. Also, it might not be possible for them to get married with a native just to gain the native rights to live and work in this country. The government started, offering economic citizenship for investors and entrepreneurs via Tier 1 (Investor) and Tier 1 (Entrepreneur) Visas.
Both of the programs have their own requirements, which are necessary to fulfil while applying to obtain UK residency. Below is the requirement list for Tier 1 (Investor) visa program. All high net worth individual may acquire permanent placement of this jurisdiction after fulfilling these requirements.
What is Tier 1 (Investor) visa?
Started back in 2011, candidates who are applying to gain the status of Indefinite Leave to Remain’ ILR, via this route are asked to make investments of variable amounts in an approved financial institution like government share, bonds, or loan capital in an authorised and active trading company.
Financing starts from £2 million (for five years) and proceeds to £5 million (3 years) and end at the maximum amount of £10 million (for 2 years). A total number of years mentioned in the bracket represents the duration for which an investor has to maintain this.
Principle candidate who is applying to obtain this kind of residency permit must be 18 years old adult with good character and crime-free background. Besides this, he/she must be capable of completing the timeline.
No language tests are required
As long as the candidate possess the basic amount to invest in an authorised financial institution, he/she doesn’t need to appear in any kind of language tests. Since the state government assume they will not work or do any business in the country, they will not need to show language proficiency.
Physical residency requirements
Soon after investing the specific amount of money, authorities will issue the Tier 1 Visa with 40 days validity, which can always extend. The maximum duration of extension is 2 years. Before this extension expires candidates are allowed for the further extension of their visa unless they have successfully completed the requirements of physical residency. During this period, applicants are not allowed to leave the country not more than 90 days/per year.
Confirmation is required
Despite completing all other requirements to obtain ILR status, every candidate has to confirm his intention to make the UK his primary home. To ensure this candidate asked to spend at least 180 days every year in the country.
Summary: Keeping these requirements in mind while planning to acquire citizenship in the UK enable candidates to make a well-informed decision.