These changes do not apply retrospectively, so all those already under the route will not be affected when applying for extension or indefinite leave to remain.
As of 6th November 2014, the minimum investment threshold will be raised to £2 million.
The current provision under which the required investment sum can be sourced as a loan is removed.
The full investment sum will have 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).
(“Active and trading UK registered companies” means companies which:
- (a) have a registered office or head office in the UK;
- (b) have a UK bank account showing current business transactions; and
- (c) are subject to UK taxation. )
The Tier 1 (Investor) migrant will no longer be required to top up the investment if its market value falls, instead a requirement is introduced that they will have to purchase new qualifying investments if they sell part of their portfolios and need to replace them in order to maintain the investment threshold.
Introduction of subjective test to allow Entry Clearance Officers and UK Visas & Immigration caseworkers to refuse application if they have reasonable grounds to believe that:
- the applicant is not in control of the investment funds;
- the funds were obtained unlawfully (or by means which would be unlawful if they happened in the UK); or
- the character, conduct or associations of a party providing the funds mean
- that approving the application is not conducive to the public good.
Please contact us on 020 3384 0197 IMMIGRATION.UK