The UK residency by investment, known as the Tier 1 Investor Visa, designed for individuals looking to invest in the country while gaining the opportunity to live and work in the UK.
Here’s everything you need to know about the essentials of UK residency by investment:
1. Investment Requirements
To qualify for the Tier 1 Investor Visa, you need to make a substantial financial investment in the UK. The minimum investment amount is £2 million. This investment must be made in UK government bonds, share capital, or loan capital in active and trading UK companies.
2. Application Process
The application process for the Tier 1 Investor Visa involves several steps:
- Prepare Your Documentation: You’ll need to gather essential documents, including your passport, proof of your investment funds, a detailed business plan, and evidence of your ability to support yourself and any dependents.
- Submit Your Application: You can submit your application online or through a UK consulate or embassy in your home country.
- Biometrics and Interviews: You may be required to provide biometric information and attend an interview as part of the application process.
- Receive Your Visa: Once approved, you will receive your visa, allowing you to enter the UK and begin your residency journey.
3. Duration of Residency
The Tier 1 Investor Visa is initially granted for three years and four months. After this period, you can apply for an extension or settle in the UK permanently.
4. Job Creation and Economic Contribution
One of the advantages of the UK’s residency by investment program is that it doesn’t impose strict job creation requirements like some other countries. However, your investment should be directed towards active businesses, contribute to the UK economy.
5. Family Benefits
The Tier 1 Investor Visa extends to your immediate family, including your spouse and children under 18. This means that your loved ones can also enjoy the benefits of living in the UK, including access to quality education and healthcare.
6. Pathway to Citizenship
Five years of residency make you eligible for British citizenship, and the application process involves a test of English language knowledge as well as passing the Life in the UK test, which is an assessment of your knowledge about British culture, history, and society.
7. Lifestyle and Quality of Life
The UK is well known for a quality of life, which comes with access to high-quality health care, some of the best education in the world, and an excellent cultural scene. The diverse lifestyle options as a resident.
8. Global Mobility
UK residency enhances your global mobility. As a resident, you can travel freely within the UK and the European Union, taking advantage of various travel opportunities. A UK passport, once you obtain citizenship, allows for visa-free access to numerous countries around the world.
Whether you seek personal growth, business opportunities, or a better quality of life for your family, the UK’s Tier 1 Investor Visa can be the key to unlocking a new chapter in your life.
UAE residents can contact CBI to learn about citizenship by investment programs of different countries.