- The current £1 million minimum investment threshold is being raised to £2 million. The £5m & £10m options are still as before.
- A change is being made to require the full investment sum to be invested in prescribed forms of investments (share or loan capital in active and trading UK companies, or UK Government bonds), rather than 75% of the sum as at present. This means that as of 6 November, Tier 1 Investors will no longer be able to put 25% of the investment towards a property.
- The current requirement that the migrant’s investment must be “topped up” if its market value falls is being removed; instead Tier 1 (Investor) Migrants will only need to purchase new qualifying investments if they sell part of their portfolios and need to replace them in order to maintain the investment threshold.
- The existing provision under which the required investment sum can be sourced as a loan is being removed.
- Transitional arrangements are being applied, so that Tier 1 (Investor) Migrants who have already entered the route before these changes are introduced will not be subject to these changes when they apply for extensions or for Indefinite Leave to Remain
All of these Tier 1 Investor changes come into effect on 6 Nov 2014. Applicants who may want to take advantage of the current scheme and rules are advised to apply before the 5th of November and encouraged to get in touch with us on 020 7494 0118 for assistance with your application.
Applications for Entry Clearance or Further Leave to Remain (FLR) submitted before this date will be considered under the old rules.