Tier 1 Investors who rely on the old £1million investment requirement, and need to extend their visa, only have till 6 April 2020 to submit their extension application.
If you are a Tier 1 Investor and not able to extend by this date, you will have to increase your investment to £2 million.
Indefinite Leave to Remain Applications
Tier 1 Investors applying for Indefinite Leave to Remain (ILR), relying on the £1 million investment requirement, have to submit the ILR application before 6 April 2022.
If you rely on this old investment amount for your ILR application, and not able to apply before 6 April 2022, you will have to increase the investment amount to at least £2 million. However, you will not only have to increase the investment amount. The qualifying period for ILR also restarts from the date you increase your investment amount. Previous time spent on the route with a lesser investment amount does not count towards the ILR qualifying period.
We, therefore, urge Tier 1 Investors who rely on the £1 million investment amount to get in touch with a Breytenbach consultant without delay. They will do a check on your immigration circumstances and help you to map out a plan to ensure a safe and fast route to British citizenship.
What are the new investment requirements for Tier 1 Investors?
You are welcome to read more about Tier 1 Investors on our website.
To qualify, you must have money of your own, under your control, held in a regulated financial institution. This money must be disposable in the UK, amounting to no less than £2 million. You have to have a bank account in a UK regulated bank to invest no less than £2 million in the UK.
As this is a very complex application, we highly recommend that you get in touch with one of our consultants for assistance.