Tier 1 (Investor) Visa Requirements

1. Requirements for Tier 1 (Investor) Visa Bettina Yarde Managing Director Morgan Dias Immigration Ltd. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

2. Tier 1 (Investor) visa rules • Tier 1 (Investor) visa can be found at paragraphs 245E – 245EF and Appendix A • of the Immigration Rules. • From 6th November 2014 there were changes made to the rules: • Paragraphs 54 to 65 of Appendix A were replaced with paragraphs 54 to 65 – SD • Table 7 contains the requirements for Entry Clearance (E/C) • 8A contains the new requirements for Leave to Remain (LTR) • 8B contains the old requirements for LTR • 9A contains the new requirements for Indefinite Leave to Remain (ILR) Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

3. Tier 1 (Investor) visa rules (cont.d) • The minimum threshold for investment raised to £2 million • The investment of £2 million must now be invested in qualifying investments • Used funds for investment is no longer allowed • From 6th April 2015 there was a further rule change: • Investors are required to have opened an account with a UK regulated bank before making an initial application – this is to allow UK regulated banks to complete due diligence checks Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

4. Obtaining Entry Clearance • To obtain E/C an applicant must score 75 points under the Points Based System • And meet the following requirements: • Attributes – 75 points (Appendix A para 54 – 65 – SD) • £2 million must be invested in the following ways: • UK government bonds; or • Share capital or loan capital in active and trading companies registered in the UK UK company: • Registered or head office in the UK; and • UK business bank account showing current transactions; and • Subject to UK taxation Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

5. Obtaining Entry Clearance (cont.) Registered in the UK: • Private company limited by shares • Private company limited by guarantee • Private unlimited company • Public company limited by shares (PLC) Investment in share/loan capital can be held in foreign currencies • Must make investment within 3 months of specified date • Must be 16 years old plus • If the applicant is under the age of 18, parents/legal guardian must ‘support’ and consent to the UK care arrangements • Must not fall for general grounds of refusal (paragraphs 320-322) Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

6. Obtaining Entry Clearance (cont.) • An applicant must obtain the unconditional written consent if have/last granted leave as Tier 4, Student, Student nurse, Student re-sitting an exam, Student writing thesis, Post-graduate Doctor/Dentist and sponsored within the last 12 months by overseas government/international sponsorship agency • * Note there is no English language or maintenance requirement Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

7. Excluded Investments • There are a number of investments that the applicant cannot make: • Offshore companies or trusts, and offshore custody since 13th December 2012 • Collective investment schemes/mutual funds • Investment trust companies • Open ended investment companies • Investment trust companies • Pooled investment vehicles • Companies mainly engaged in property investment, property management or property development • Deposits with bank, building society or other enterprise whose normal course of business includes acceptance of deposits • ISAs, premium bonds, and savings certificates issued by National Savings and Investment Agency Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

8. Excluded Investments (cont.) • Leveraged investment funds, except where leverage is the security against a loan relating to pre-13th December 2012 application • * An applicant can invest in construction companies Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

9. Advantages to Tier 1 (Investor) route • There are a number of advantages to obtaining a Tier 1 (Investor) visa for an • applicant: • No English language requirement except for ILR application • No maintenance requirement • Permitted to undertake almost all types of employment or study in the UK • No requirement for ‘main home’ • Generous absence provisions for ILR • Potential to accelerate obtaining ILR Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

10. Leave to Remain Requirements • If an applicant is applying for LTR they must meet the same requirements as • Above in addition to those below: • Have/last granted leave as: • Tier 1 (General), Tier 1 (Entrepreneur), Tier 1 (Investor), Tier 1 (PSW) • Tier 2, Worker permit holder • Tier 4, Student, Student nurse, Student re-sitting an exam, Student writing up thesis – subject to consent of sponsoring organisations or overseas government if applicable • Tier 1 predecessors categories: HSMP, Businessperson, Innovator, Writer composer artist • Must not be in breach of the Immigration Rules, except overstaying for a max 28 days Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

11. Attributes • An applicant will need to have the following attributes: • £2 million • Own money – is defined in Appendix A, paragraph 61 as: “Money of his own”, “personal assets” and “his capital” includes money or assets belonging to the applicant’s spouse, civil partner or unmarried or same-sex partner, provided that: • The applicant’s spouse, civil partner or unmarried or same-sex partner meets the requirements of paragraphs 319C(c) and (d) of these rules, and the specified documents in paragraph 61-SD are provided, and • Specified documents in paragraph 61-SD are provided to show that the money or assets are under the applicant’s control and that he is free to invest them. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

12. Attributes (cont.) • Under his/her control – is defined in Appendix A paragraph 61 as: • 61A. In tables 7 to 9B, “money of his own under his control” and “ money under his control” exclude money that a loan has been secured against, where another party would have a claim on the money if the loan repayments were not met, except where: • (i) The applicant made an application before 13 December 2012 which is undecided or which led to a grant of entry clearance or leave to remain as an Investor or a Tier 1 (Investor) migrant, • (ii) The applicant has not been granted entry clearance, leave to enter or leave to remain in any other category since the grant referred to in (i), and • (iii) The money is under the applicant’s control, except for the fact that the loan referred to in paragraph (b) in Table 8B or row 1 or Table 9B has been secured against it. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

13. Attributes (cont.) • Held in regulated financial institution (FCA/PRA or overseas home regulator) • Have opened a UK account with a UK regulated bank, and • Disposable in the UK. The ECO must be satisfied that: • The applicant is in control and at liberty to freely invest the money specified in the application; • Any of the money held by the applicant or being made available to the applicant by a third party has not been acquired by means of conduct which is unlawful in the UK, or would constitute unlawful conduct if it occurred in the UK; or • The character, conduct or associations of any third party providing funds is not such that the approval of the application would not be conductive to the public good Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

14. Attributes (cont.) • Need to ensure that the applicant does not have any trouble with transferring the funds out of their country of origin (some Chinese nationals for example may have this problem) • Need to look at money laundering regulations • Need a letter confirming that the funds are transferrable Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

15. Evidence of Investment Funds • There are specified documents which are required to show the applicant can • Meet the requirements for funds to invest (para 64 – SD) • Funds must have been held for a consecutive 90 days period of time, which ends no more than one calendar month before the date of the application • An official portfolio report or letter is produced by a UK regulated financial institution • If the applicant manages their own investment or his/her portfolio manager is not regulated by UKRFI then additional documents are required, covering 3 months • Certified copies of bond documents • Share documents • Latest audited annual accounts of organisation invested in (if this is not applicable then accountant’s certificate) • Trust fund document Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

16. Evidence of Investment Funds (cont.) • If the applicant has their own money in an account then they must provide their own personal bank statements from a bank regulated by home regulator, showing funds held, in whose name and for a consecutive 90 days • If the applicant’s funds are not held in the UK a letter from the bank regulated by the homer regulator confirming beneficial owner and transferability to the UK • An applicant cannot use bank statements if their funds are from a 3rd party Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

17. Evidence of Investment Funds (cont.) • If the applicant’s funds have not been held in a portfolio or bank account for 90 days they must provide evidence of the source of the funds (para 64 – SD of Appendix A) • Gift • Deed of Sale • Business’ financial accounts • Will • Divorce settlement • Official letter from an organisation issuing financial award or winnings • Other • All the above must be accompanied by a letter from a legal advisor who is permitted to practice in the country of origin, which confirms the validity of the above Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

18. Evidence of Investment Funds (cont.) • If funds are held jointly with or solely by a partner they must give permission for the applicant to control the funds in the UK • They must provide evidence of the relationship • Provide an original declaration that all joint funds/personal funds are under the control of the applicant in the UK • The declaration must be accompanied by a letter from a legal advisor Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

19. Period of Leave and Conditions • The applicant will be granted the following if the application is successful: • 3 years and 4 months for E/C and 3 years for LTR • Extension – 2 years • ILR – can be obtained in 5 years (alternatively can be obtained in 3 or 2 years if accelerated • No recourse to public funds • No employment as a doctor or dentist in training unless the applicant has a primary degree in medicine/dentistry, bachelors+ level from a UK institution which is recognised/listed body or has T4 licence • No employment as a professional sportsperson • Registration with the police if required to do so Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

20. Curtailment • The UKVI have the power to curtail an applicant’s leave in the following • Circumstances: • If the applicant has failed within 3 months of specified date to invest £2 million (the specified date is considered to be the date the applicant first entered the category) or • If the applicant does not maintain the level of investment of £2 million • If the applicant falls within paragraph 323 of the Immigration Rules Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

21. Requirements for Extension To obtain an extension in the UK the applicant must score 75 points and meet the following requirements: • £2 million in own funds, under his/her control in the UK • All funds have been invested in UK government bonds or share/loan capital in active and trading UK registered companies • Investment was made within 3 months of specified date and the level of investment has been maintained for the whole period of leave Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

22. Topping Up Rule • The applicant must ensure: • Maintenance of level of portfolio (i.e. £2 million) • If the applicant sells any part of the portfolio of qualifying investment during the specified continuous leave period that results on the price paid dropping below the purchase price the shortfall must be fully corrected within the same reporting period by the purchase of further qualifying investments Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

23. Evidence for Extension • When making an application for an extension the applicant will need to provide • the following evidence: • Show that the £2 million has been invested • Provide a series of investment portfolio reports certified as correct by an FCA/PRA UK regulated financial institution. These must show the following: • Cover the required period, beginning no later than the end of the 3 month timescale from your specified date and continue to the last reporting date of the most recent reporting period directly before the date of your application; • Show the destination of the investments, if these are in companies these must be UK companies; • Include the value of the investments, or where relevant, the purchase price of the investments; Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

24. Evidence for Extension (cont.) • Include the date that the portfolio was certified by the financial institution • Show the dates that the investments were made • Show that the investments were made in your name and/or that of your husband, wife, civil partner, unmarried partner or same-sex partner and not in the name of an offshore company or trust even if this is wholly owned by you; • Show the name and correct details of the financial institution that has certified the portfolio as correct, and confirmation that this institution is regulated by the FCA/PRA; • State that the institution will confirm the content of the document to the UKVI at their request; • Certify that the investment was maintained Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

25. Evidence for Extension (cont.) • If the applicant has had a shortfall in investment due to selling part or all of their portfolio over the period, they will need to submit the following in addition: • The portfolio must show that the gross proceeds are re-invested in qualifying investments before the end of the next reporting period, or within 6 months of the date of the completion of sale, whichever one is sooner If the applicant made an investment as loan funds, they will need to submit the following in addition: • The portfolio must include audited accounts with an accounts compilation report for investments made as loans funds to UK companies, which must give the full details of the applicant’s investment. The accounts must meet statutory requirements. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

26. Evidence for Extension (cont.) If an applicant cannot meet the requirements for an extension they are no longer able to return to their country or origin and apply for entry clearance again. Table 8A/8B effectively results in a 12 month exclusion period if the applicant applies for fresh entry clearance. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

27. ILR To qualify for ILR an applicant must meet the below criteria: • Must not fail for the general grounds of refusal • Not have remain in breach of the Immigration Rules except overstaying 28 days or less • Passed the Life in the UK test (English language will be tested) • Attributes: • Invested £2 million • Maintained the level of investment • Start of the continuous leave period is the later of: • Date of entry or date of E/C if entered within 3 months of E/C or date entered • 3 months before ‘full specified amount’ invested in UK • No more than 180 days absence in a 12 month period counting backwards from the date of submission of the application (however the UKVI does allow discretion for over 180 days) Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

28. Dependents • An applicant’s dependent is allowed to come or join the applicant in the UK. A • dependent is considered to be a: • Spouse, civil partner, unmarried or same-sex partner and • Dependent children • The rules concerning dependents are found in 319A – 319K of the Immigration • Rules. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

29. LTE/LTR Applications • A dependent is allowed to switch in country • The dependent must not have exceeded 90 days (EC) or 28 days LTR in the UK as an overstayer • Children born in the UK are able to apply for status as a dependent of the PBS migrant under paragraph 319H(h) • There are provisions for LTR to be granted where the dependent was last granted leave as a PBS dependent of a principal PBS migrant who has since obtained settled status or naturalised under 319C9b)(iii) and (iv) • The dependent will not be allowed to work as a Doctor or Dentist in training unless they fall within one of the exceptions. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

30. ILR - Dependents • There is no accelerated route to settlement for the dependent anymore. The dependent will have to spend 5 years as a dependent of (former) PBS migrant under paragraph 319E(d)(ii) • The dependent will be able to gain ILR if they were granted initial leave as a PBS dependent pre-9th July 2012 rules. The dependent will be able to apply for ILR after 2 years under paragraph 319E(d)(i) • The dependent will be able to include time spent as a dependent of PBS migrant under a different category of the PBS • The 180 day limit on absences per calendar month during the 5 year period does not apply to dependents. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk

31. Requirements for Tier 1 (Investor) Visa Bettina Yarde Managing Director Morgan Dias Immigration Ltd. Datalaw Ltd, 1st Floor, Granite Building, 6 Stanley Street, Liverpool, L1 6AF Tel: 0151 236 2024, Web: www.datalawonline.co.uk