Investors looking for a residency visa for the UK can think about the Tier 1 investment visa. It requires £2 million of investment and allows temporary residency in the UK for the investor and their family. Initially visa is issued for 3 years 4 months and, unless you are eligible to apply for Indefinite Leave To Remain ILR, it can be extended for another 2 years. The earliest you can settle in the UK is 2 years, and become a British citizen – 5 years.
Eligibility Criteria:
- First your business idea has been endorsed by an approved body (means before you apply you need to have your business or business idea assessed by an approved body)
- Passing an approved English language test with at least CEFR level B2 that is Listening: 5.5; Speaking: 5.5; Reading: 5.5; Writing: 5.5 from UKVI IELTS. Or if you have degree then education must be assessed from UK NARIC Body.
- You must have at least £50,000 in investment funds for 90 consecutive days before you apply.
(You can form a team with other Innovator applicants, but you cannot share the same investment funds. Your team must have £50,000 for each Innovator applicant. For example, if you have 2 Innovator applicants, your team must have £100,000 to invest.)
- Maintenance funds £945 in your bank account for 90 consecutive days before you apply.
Visa Fee: £1,021.
Visa Validity : 3 Years
Documents requirement:
- ‘ENDORSEMENT LETTER’ from the approved UKVI body.
- Bank statements showing you’ve had at least £945 in savings in your bank account for 90 consecutive days before you apply
- Proof that you meet the English language requirement or NARC letter if you have degree
- Evidence of your £50,000 Investment funds for consecutive 90 days.
- Your tuberculosis test results.
- Police Clearance Certificate.
Note : Business must be very Innovative.