LS Legal News Bulletin
Tier 1 (Investor) Visa Suspension
Thursday 6th December 2018
Irina Durnova
Unexpected news about the suspension of Tier 1 (Investor) route appeared overnight. Both the Guardian and BBC have released the Immigration Minister's statement saying that the UK will not tolerate people who "do not play by the rules and seek to abuse the system".
Tier 1 Investor visas were introduced in 2008 to encourage rich people from outside the EU to invest in the UK at least £2m (£1m before November 2014). Concerns about the legitimacy of investors' wealth have been in the news for a while.
Statement of Changes in Immigration Rules is expected to be released tonight. Until that time there is limited and sometimes contradictory information about the future of Tier 1 Investors. The route is supposed to be temporarily suspended at midnight on 07 December 2018. When it is back, it is possible that independent, regulated auditors will assess applicants' financial and business interests and check if the applicants have had control of the funds for at least two years. There are also plans to remove investments into government bonds.
We will provide more details as they are revealed.
Luckily Tier 1 Entrepreneur route is open allowing non-EU applicants to invest into businesses as little as £50,000. Contact LS Legal Solicitors to discuss possible options.
LS Legal Solicitors may assist you with any type of immigration application. Please contact our firm on 020 81 44 55 88, via email on info@LSLegaLUK.com or use the contact box to discuss your matter or make an appointment.
