If you really want to live in the UK, you must have already started to explore possible avenues to achieve this goal. Immigration experts say investing is the best way to get there. In this regard, applicants can apply for the Level 1 Entrepreneur Visa or the Level 1 Investor Visa.
Nationals of countries outside the European Economic Area and Switzerland can apply for both visas. If accepted, the visa allows you to stay in the country for 3 years. You can request an extension after the initial 3 year period for another 2 years. By staying 5 consecutive years in the UK, you can submit a request for indefinite leave (ILR) or permanent residence.
There are several benefits of UK citizenship through investment and we have discussed a few of them below.
The level 1 entrepreneur and investor visas each have different financial thresholds. For the entrepreneur visa, the applicant must have access to investment funds of £ 200,000. However, there is a provision of £ 50,000. This is an advantageous option because it involves a lower level of investment. To add, it is planned to form an entrepreneurial team made up of two candidates. In this arrangement, applicants can arrange for investment funds by each contributing £ 100,000.
The investor visa is designed for high net worth individuals. You need a minimum of £ 1,000,000 of available funds to invest in UK companies. If the money is loaned, there is an additional requirement of £ 2,000,000 in personal property. The advantage of this method is the possibility of obtaining expedited UK citizenship. Depending on the amount of investment, the waiting period for the permanent establishment is reduced. If the applicant invests £ 5million, they can get a permanent settlement within 3 years, while if the investment amount is £ 10million, the applicant can apply for UK citizenship within 2 years.
No job offer required
The Level 1 Entrepreneur and Investor Visa allows the applicant or immigrant to start a new business in the UK or invest in an already existing business. If you are immigrating to a country for a job, you will need to have a work permit from the sponsor. The British Citizenship by Investment Program avoids the need for a job offer and thus facilitates the process of applying for long-term permanent settlement.
Besides the investment criteria, there are a lot of things to qualify for the Level 1 investor visa and the entrepreneur visa. The candidate will need to demonstrate English language skills, prove the ability to support their stay in the UK, and undergo a health check-up to rule out the presence of any serious illness. There is also an age criterion. All of this, expect the health check to be canceled for the investor visa.
Authorization to bring the family
When applying for a personal visa, the applicant can also apply for visas for their dependents, spouse, and children under 18. Dependents are automatically included in the investor visa program. In fact, they enjoy health, education, and work opportunities just like any other UK citizen.
No more days of absence
If you wish to obtain UK citizenship by investment, the absenteeism period should not exceed 450 days during the 5 year period. This should only be 90 days in the 12 months preceding the citizenship application. The time away is sufficient for anyone who has to manage a business in multiple countries.