Attractive Destination For clients that request and require residency and citizenship in theuk the ImmigrationGroup at Mishcon de Reya ensure that the whole process passes without difficulty, affording its clients such assistance and expertise as may be necessary. Opportunites to settle The UK has always been an attractive destination for those seeking tax efficiency, a cosmopolitan lifestyle, excellent educational opportunities and the benefits that flow from the UK s long tradition of upholding the rule of law. The UK specifically welcomes visa applications from those with financial capital to invest in this country and the Tier 1 (Investor) visa is aimed at high net worth individuals with the ability to invest at least 1 million in the UK. EXACTLY HOW? This guide details the requirements to be met by applicants wishing to acquire residency by securing a Tier 1 (Investor) visa. +44(0)20 7440 7143
The Investment An applicant must score 75 points to obtain a Tier 1 (Investor) visa. These are awarded if the applicant can demonstrate the following: 1. The applicant must hold money in a regulated financial institution and be able to freely transfer no less than 1 million of this money to the UK (the money may already be in the UK); OR 2. The applicant must have global net assets worth in excess of 2 million (taking into account any liabilities the assets may be subject to) and must be able to borrow 1 million against these assets from a recognised financial institution. Again this money must be held in a regulated financial institution and must be freely transferrable to the UK (or already in the UK). 3. There is no English Language requirement for Tier 1 (Investor) visas.
The application should be made in the applicant s country of origin or where they have legal residence. In some specific cases an applicant may apply from within the UK to switch their status. Various supporting documents are needed in respect of this application and our dedicated Immigration Group can assist in collating the necessary documentation to ensure the format and content meet the requirements. We will prepare and finalise the application for submission and then liaise with the relevant overseas British Diplomatic Post and/or the UK Border Agency at each stage of the process to help ensure a positive determination. The applicant s spouse/civil partner or unmarried partner may also be included on the visa. Children under the age of 18 may also apply to accompany the main applicant as their dependants. Provided the application is successful the visa should be issued for 3 years.
The Investment Within 3 months of the visa being issued, or for applications made from outside the UK within three months of the applicant s initial entry to the UK, the applicant must invest at least 750,000 of the 1 million in one or more of the following: 1. UK Government bonds; 2. UK share capital; or 3. Loan capital in active UK registered companies (apart from those principally engaged in property investment). The entire 1 million can be invested this way. If not already invested, the remaining balance of 250,000 must be continuously held in the UK during the life of the visa. This element of the investment can be held on deposit with a bank, or invested in real estate.
Tier 1 (Investor) Extension Application Towards the end of the 3 year period granted, the applicant can apply to extend the Tier 1 (Investor) visa by an additional 2 years. In order to qualify for the extension it is crucial that the investments have been correctly maintained during the entire 3 year period. Specifically, the applicant must: 1. Have invested not less than 750,000 in specific approved investments within 3 months of entry to the UK; 2. Have maintained a total level of funds in the UK (including the investment) in excess of 1 million, throughout the period of residence.
Indefinite Leave to Remain () Following 5 years continuous residence with the Tier 1 (Investor) visa applicants are eligible to apply for Indefinite Leave to Remain (ILR) in the UK. This visa status carries no restrictions. Applicants must normally reside in the UK for an average of 9 months during each of the 5 years to qualify for ILR. Whilst there is some discretion to waive excess absences of up to 6 months of each year the applicant must usually demonstrate that there were compelling compassionate reasons for the absences or that the absences were due to the applicant s employment. Dependants of the main applicant can generally travel more freely and their absences from the UK are usually less scrutinised in respect of ILR applications.
The applicant has been resident in the UK for at least 5 years; When the application is submitted, the applicant must have been in the UK on the exact date 5 years previously; The applicant has not spent more than 450 days outside the UK during the 5 year period; The applicant has not spent more than 90 days outside the UK in the last 12 months of the 5 year period; and The applicant has not been in breach of the Immigration Rules at any stage during the 5 year period. At Mishcon de Reya we understand that the residency requirements can be difficult to achieve and, subject to the specific details of the applicant, we regularly advise and assist our clients in making successful discretionary applications. An application to naturalise as a British Citizen may be normally made once the applicant has held ILR for a period of 12 months. The residency requirements for Naturalisation are that: On successful completion of the naturalisation application an applicant will receive a Certificate of Naturalisation. The Certificate of Naturalisation enables the applicant to apply for their first British Passport. This is a separate application.
Fast track to settlement The Home Secretary has proposed offering quicker routes to settlement for Investors as follows: 1. For those who are able to invest at least 10 million in the UK, the residential period required to qualify for ILR will be reduced to 2 years. 2. For those who are able to invest at least 5 million in the UK, the residential period required to qualify for ILR will be reduced to 3 years. 3. Those who are able to invest at least 1 million in the UK will continue to be eligible to apply for ILR once they have held continuous residence in the UK for 5 years. Relaxation of the residency requirements The UK Government has recognised the crucial need for so many high net worth individuals to travel in the course of their global business needs. They have therefore announced a relaxation of the residency requirements for Investors. The current requirement to spend at least 9 months (75%) of every year in the UK to qualify for ILR is likely to be reduced to 6 months (50%). British citizenship Full British citizenship may be obtained once an applicant has lived in the UK as an Investor for five years provided the applicant has held ILR for at least one year. How the Investment works so Why are we different?
Mishcon de Reya s dedicated Immigration Group was described in Chambers & Partners, the UK s annual and definitive legal guide, as having an impressive reputation for Investor applications, and international travel and economic citizenship applications. How the Investment works so Why are we different?
So why are we different? The decision to relocate the family and home is a major one for most clients. We work closely with our clients to ensure the process is as stress-free as possible - acknowledging that cultural nuances and personal circumstances rarely fit neatly into obvious immigration categories mean that clients may have different priorities and sensitivities. Much of our work is about bespoke immigration solutions for high net worth individuals. Our extensive contacts throughout the Immigration and Nationality in the UK, and with visa issuing post overseas, allow us to obtain exceptional and expeditious results for our clients. Working with wealth managers, family offices, international tax advisors and Private Banks, we provide cohesive advice allowing applicants to make informed decisions on where to base themselves, their family and businesses, often taking advantage of the UK s favourable tax regime. Mishcon de Reya s Immigration Group also provides bespoke advice to many international businesses and financial organisations on relocation and citizenship in the UK. How the Investment works
<<<<<<<<KAMAL<RAHMAN<<<<<<<<<<<<<<<<<<< <<<<<<+44<(0)20<7440<7143<<<<<<<<<<<<<< Phone +44 (0)7771 905 647 KAMAL.RAHMAN@MISHCON.COM UK inward investment Email Tier 1 (General) applications for highly skilled applicants HEAD OF IMMIGRATION Strategic immigration advice Position Sole representatives of overseas organisations KAMAL Clients wishing to establish a business in the UK Given name(s) Certificate of Sponsorship (Work Permit) applications Surname Applications for British Citizenship - often involving exercise of discretion RAHMAN Residency by way of investment of 1 million How the Investment works