The Tier 1 UK
Investor Visa will replace the Entrepreneur Visa from 29 March 2019. The funds required for investment for the
new pathway has been set much lower at 50,000 Pounds. Nevertheless, there
might be more ambiguities while filing the application. Innovation must be demonstrated in the proposed new business in the UK.
The rules for the Tier 1 UK Investor Visa have
been modified to a greater extent to become effective from 29 March. The
crucial change affects the duration of time that the investor must have held
the funds before investing in the UK.
The existing
rules mandate that the funds must have been held by the applicant for 90 days
before filing the application. The new
rules extend this period to 2 years now, as quoted by the Guardian.
Moreover, the requirement for opening a bank account in
the UK before making the application has been tightened. This is made
explicitly clear in the statement of changes. Banks will have to mandatorily perform required inquiries and diligence
checks. They must also confirm that these have been conducted prior to the
UK Investor Visa being progressed.
The applicants
will also not be able to purchase
national debt in the UK to qualify as an investor. The buying of bonds of the UK government is being eliminated as a
qualifying investment.
The changed
rules for UK Investor Visa are inclusive of stringent curbs on routing funds
through intermediaries. This specifies that the intermediaries who involve in the investment of funds must be
accredited by the Financial Conduct Authority.
The definition of trading and active firms has
also been revised and made more stringent. The new definition for these
firms is as follows:
- Must be
registered with the Companies House UK - Must be
registered with the HMRC for PAYE and Corporation tax - Must have a business bank
account and accounts in the UK and both must demonstrate regular trading of
services and goods - Must have a
minimum of 2 staff based in the UK who are not Directors of the firm
Y-Axis offers a
wide range of Visa and Immigration services as well as products to overseas
immigrants including UK Tier
1 Entrepreneur Visa, Business Visa for the UK, Study Visa for the
UK, Visit
Visa for the UK and Work Visa
for the UK.
If you are
looking to Study, Work, Visit, Invest or Migrate to UK, talk to Y-Axis,
the World’s No.1 Immigration & Visa
Company.
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