If you really want to live in the UK, then you must have begun to explore possible ways to achieve this goal. Immigration experts say that investment is the best way. In this regard, applicants can apply for a Tier 1 Entrepreneur Visa or Tier 1 Investor Visa.
Citizens of countries outside the European Economic Area and Switzerland are eligible to apply for both visas. If accepted, the visa allows you to stay in the country for 3 years. You can request an extension of 2 years after the initial 3 year period. By living in the UK for 5 consecutive years, you can apply for an indefinite residence permit (ILR) or permanent residence.
There are many benefits of obtaining British citizenship through investment, some of which are discussed below.
No work required
Both the Tier 1 Entrepreneur Visa and Investor Visa allow applicants or immigrants to establish a new business or invest in an existing business in the UK. If you immigrate to any country to work, you need to obtain a work permit from your sponsor. British Citizenship by Investment Program eliminates the need to provide work, thus making the process of applying for long-term permanent residency easier.
Easy to score
In addition to the investment criteria, it is also eligible for the Tier 1 Investor Visa and Entrepreneur Visa. Applicants need to prove their English proficiency, prove their ability to support residence in the UK, and undergo medical examinations to rule out any serious illnesses. There is also an age standard. All of these, hope to eliminate the medical examination for investor visas.
The financial thresholds for Tier 1 investor and entrepreneur visas are different. To obtain an entrepreneur visa, the applicant must obtain an investment of £200,000. However, there is a reserve of £50,000. This is an advantageous option because it involves a lower level of investment. Also, it is stipulated that a business team composed of two applicants should be formed. In this arrangement, the applicant can arrange a mutual fund by jointly contributing £100,000.
The investor visa is designed for high net worth individuals. It requires at least £1,000,000 of available funds to invest in UK companies. If the money is loaned out, the personal assets will also require £2,000,000. The advantage of this method is that you can quickly obtain British citizenship. According to the investment amount, the waiting time for permanent settlement can be shortened. If the applicant invests 5 million pounds, they can obtain permanent residency within 3 years; if the investment amount is 10 million pounds, they can apply for British citizenship within 2 years.
When applying for an individual visa, the applicant can also apply for visas for their family members, spouses and children under the age of 18. The dependents are automatically included in the investor visa program. In fact, they enjoy health, education and job opportunities like any other British citizen.
More days of absence
If you wish to qualify for British citizenship through investment, the period of absence cannot exceed 450 days within 5 years. There must be only 90 days in the 12 months before applying for citizenship. For those who have to do business in multiple countries, time is enough.