Investor visa scheme closed
Begining on 17 February 2022, the Investor visa to the UK will be closed to new entrants. That means no application for new visas accepted by Home Office. However, those who already hold the visa are still eligible for ILR or extension as applicable.
Investor visa to the UK
The Investor visa is for those who have substantial funds available for investment in the UK. The applicant in this category must meet the following key requirements:
- Have no less than £2million funds available;
- The funds are held in a regulated financial institution and are transferrable to the UK;
- Have a UK bank account opened with a UK regulated institution;
- Obtain criminal record certificates from any country where resided for at least 12 months within 10 years before application.
- Obtain TB test certificate (if resides in a country where TB testing is required).
- There is no English language requirement.
- There is no maintenance requirement.
One of the most difficult tasks faced by the applicants is proving the source of the funds. Ensuring that they are held in compliant accounts is also a major issue.
ILR for visa holders
The initial visa is granted for 3 years and 4 months (3 years if switched from inside the UK) and it can be extended for a further 2 years. After 5 years Investors can apply for settlement and subsequently for the British citizenship.
There is an accelerated settlement offered after 3 years for those who invest £5million and after 2 years for those who invest £10 million. The accelerated 3 year or 2 year ILR is only for the Investor applicant and it is not available for the dependent family members. The accelerated ILR also does not mean that you can apply for British citizenship sooner, you would still need to wait until you have 5 continues years residence in the UK.