The Investor category is for high net worth applicants who have at least £2 million available to invest in the UK. The Immigration Rules covering the Tier 1 Investor route have been amended to allow more scrutiny of the source of each applicant’s funds. The changes came into effect on 29th March 2019.
The changes include:
• a requirement for applicants to demonstrate that they have held funds of £2million for at least 2 years (rather than the previous 90 day requirement) or, if not, provide evidence of the source of their funds for the same period.
• the removal of the option of investing in government bonds.
• a requirement that the UK bank account evidence submitted by initial applicants includes confirmation the bank has carried out all required due diligence checks and Know Your Customer enquiries in relation to the applicant.
• a requirement for further evidence that businesses are genuinely active and trading.
• further requirements for evidence of investment where qualifying invested funds have been further invested through multiple companies.
• approval for pooled investment vehicles to be invested in but only if that pooled investment vehicle also has investment from a UK or devolved Government department or one of its agencies and this is confirmed in a letter from that agency or department.
Kirkpatrick Whyte can assist you to navigate these new requirements and support you in the submission of a successful application as a Tier 1 Investor. Contact us on: 0203 917 3280