Latest news: Home Office has NOT suspended the UK Tier 1 Investor visa
By Oshin Shahiean of OTS Solicitors
The suspension of the Tier 1 Investor Visa was widely reported in the media, including the BBC and newspapers. The press and top London immigration solicitors relied on information contained in a statement by the Immigration Minister.
However, on Tuesday the 11 December a Home Office representative announced that:
The latest statement conflicts with the announcement made 5 days earlier. The conflicting news has left the best London immigration solicitors puzzled by the lack of direction at the Home Office.
More importantly, where does the latest announcement leave would be Tier 1 (investor) applicants? Currently the Home Office system is allowing Tier 1 (investor) visa applications to be submitted. top London immigration solicitors are speculating when the next Home Office announcement will be made and if it will suspend Investor Visas again.
How can OTS Solicitors help?
Applicants for Tier 1 investment visa might think that they should wait for further announcements before submitting a Tier 1 (investor) visa application. However, the best London immigration solicitors say that if an applicant waits for further announcements they may not be eligible to apply for a visa if the scheme rules are changed or the visa is later suspended.
Planned new Investor Visa audit process
Last week, the Immigration Minister said that the Investor Visa would be suspended and that the suspension would only be lifted once an audit process had been introduced. It was announced that the independent auditors would consider:
• The applicant’s financial interests; and
• The applicant’s business interests ; and
• Assess whether the applicant has had control of their investor funds for at least 2 years.
top London immigration solicitors do not know the rationale behind the decision to suspend the Investor Visa scheme on Thursday the 6 December and the decision, 5 days later, not to put the suspension into effect. The latest Home Office spokespersons statement is very brief and does not address the inconsistency.
What the best London immigration solicitors do know is that the original decision to suspend the Tier 1 (investor) visa was motivated by criticism of the government. Many argued that the Investor Visa was allowing the super-rich to buy entry into the UK, potentially by using “dirty money” and committing money laundering offences.
• Commit to investing at least 2 million in the UK – the investment has to be made within 3 months of arrival in the UK ; and
• Have a UK bank account; and
• Be of good character.
There are additional criteria but these are the main ones.
Investor Visa status
top London immigration solicitors say that one of the major attractions of the Investor Visa scheme is that after 5 years the investor can apply for settled status or Indefinite Leave to Remain in the UK.
Given the confusion over the last few days, no one can say with any degree of confidence when the next announcement will be made and what it will mean for investors.
The confusion and uncertainty may give visa applicants a window of opportunity to apply for a Tier 1 (investor) visa. Equally the adverse publicity about the Investor Visa attracting ‘’dirty money’’ into the UK may deter some genuine investors from wanting to commit to the UK.
How can OTS Solicitors help?
If you are in the process of applying for a Tier 1 Investor Visa or have plans to do so and want to consider your options and alternatives, call us for expert Immigration advice. Time may be a critical issue so we urge those considering applying for an Investor Visa to take specialist London Immigration advice.
OTS Solicitors are specialists in personal and business immigration. They have substantial expertise in securing Tier 1 Investor Visas. The Legal 500, legal directory, rank OTS Solicitors for business immigration services. In addition, OTS Solicitors have Law Society accredited solicitors status as trusted specialists in Immigration law.
For more information on Tier 1 Investor Visas and for advice on making an application or processing a current application or any other aspect of personal or business immigration law please call us on 0203 959 9123 to arrange an appointment to speak to one of our experienced London immigration solicitors who will be happy to help.