Bowling & Co have partnered with specialist immigration law firm Davenport Solicitors to provide Bowling & Co with a dedicated team of immigration lawyers with decades of experience in helping overseas High Net worth Individuals (HNI’s) who wish to invest and live in the UK.
Foreign direct investment in the UK at a record level
The UK remains a top destination for foreign direct investment (FDI), according to the Office for National Statistics (ONS), with investment increasing by 12.6% in the last year.
10 reasons why the UK is the number one destination for FDI in Europe:
- An internationally minded hub of businesses, people and cultures from around the world
- A country with one of the world’s most innovative, entrepreneurial and highly skilled workforces. The UK is home to the top six universities in Europe. Two of the top six best schools in the UK figure in top three global universities
- An excellent business infrastructure to set up companies, operate and develop your business, with a simple and competitive tax rate system
- A transparent regulatory system making it easier to do business
- A pro-business government policy, with a stable currency and economy
- A leading base for trade whether exports or imports
- A welcoming paradise for entrepreneurs and investors from around the world
- A country with an a high standard of living, security, education and healthcare
- A country with rich cultural and historical heritage and abundant opportunities for travel and leisure activities
- A leading Financial Centre: in London which is the world’s largest financial centre in the UK
Tier 1 Investor Visa for you and your family
This category is for people who want to make a substantial financial investment in the UK of at least £2 million. You must be at least 18 and your assets and investments must be wholly under your control.
Initial permission to stay in this category is usually granted for 3 years and 4 months if you are applying from overseas. After this you can make an application to extend your permission to stay. If this is successful, you will usually be granted a visa for a further 2 years. This category can lead to settlement in the UK. Some people can apply for settlement after 2, 3 or 5 years depending on your level of investment.
You must have funds of your own of at least £2 million under your own control and disposable in the UK. The money can be held in the UK or overseas. The money must be held in one or more financial institutions, such as a bank or building society.
Funding requirements for Tier 1 Investor Visa
If the money is held in the UK, the institution must be regulated by the Financial Conduct Authority (FCA) or Prudential Regulation Authority (PRA).
If the money is held overseas it must be in an institution that is regulated by your home regulator and can be verified by the Home Office. Not all financial institutions are acceptable. The Home Office has published a list of financial institutions that do not satisfy the requirements. These institutions are based in Cameroon, India, Ghana, Pakistan,
Philippines, Bangladesh and Sri Lanka.
If the money is not held in pounds sterling you must convert its value into pounds sterling when you make your application.
You can use money that is owned jointly or solely with your husband, wife or partner. You, your husband, wife or partner must be the beneficial owner of the funds and not hold the investments on behalf of anyone else. You must provide documents to prove your relationship such as a marriage certificate; a declaration from your husband, wife or partner that that the money is available to you, will be under your control and can be used for your visa application; and legal confirmation that the declarations are valid.
You can use investments made in the UK 12 months before you make your application as long as they are held in a UK regulated financial institution. You cannot use assets or possessions such as property as evidence of your funds for investment.
- Invest in companies mainly engaged in property investment, property management or property development
- Work as a professional sportsperson or sports coach
- Get public funds
You also cannot work as a doctor or dentist in training unless of the following applies:
- you have a primary degree at bachelors level or above in medicine or dentistry from a UK institution that holds a Tier 4 sponsor licence or is a UK recognised or listed body
- you worked as a doctor or dentist in training the last time you were in the UK
- neither of those conditions were part of the terms and conditions on a previous visa
If you would like any more information in relation to this article then please feel free to contact the author, Barry Dass, via email: firstname.lastname@example.org
Website content note: This is not legal advice; it is intended to provide information of legal interest about current legal issues.