NEW RULES FOR OBTAINING UK CITIZENSHIP BY INVESTMENT
Since 6th of November new conditions for applicants on the special visa Tier 1 come into force. Now the general investment level became higher, having risen from £1 000 000 to £2 000 000, thus it isn’t necessary to buy real estate any more, and all sum will go to investments into bonds.
The following changes are being made to this category, partially in response to MAC report:
- The current £1 million minimum investment threshold is being raised to £2 million.
- 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).
- 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 The Tier 1 (Investor) category caters for high net worth individuals making a 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 in- vestment 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.
- Entry Clearance Officers and UK Visas & Immigration caseworkers are being empowered to refuse a Tier 1 (Investor) application if they have reasonable grounds to believe that:
Entry Clearance Officers and UK Visas & Immigration caseworkers are being empowered to refuse a Tier 1 (Investor) application if they have reasonable grounds to believe that:
o the applicant is not in control of the investment funds; o the funds were obtained unlawfully (or by means which would be unlawful if they happened in the UK);
o the character, conduct or associations of a party pro- viding the funds mean that approving the application is not conducive to the public good.