One third of Tier1 Investors became UK permanent residents

The UK has operated a migration route for high value investors since 1994. The ‘Investor Immigrant’ visa was introduced in 1994.

A Tier 1 (Investor) Migrant can apply for Indefinite Leave to Remain after being five years lawfully in the UK for a continuous period.

The UK tier1 investor is still active and currently running and not suspended.

Under the Point Based System, applicants must score 75 points to qualify for the entry clearance, leave to remain or indefinite leave to remain as a Tier 1 (Investor) Migrant. To qualify under this scheme, foreign investors must demonstrate

• That they have money of their own under their control held in a regulated financial institution and disposable in the UK amounting to not less than GBP 2 million (this amount was increased from GBP 1 million in 2014); and
• That they have opened a bank account with a UK regulated bank for the purposes of investing not less than GBP 2 million in the UK.
• The investments must be in UK government bonds, or share or loan capital in active and trading UK-registered companies.

The first entry clearance is issued for 3 years 4 months (40 months) and can be extended for another 2 years. After five years of living without absences of 180 days per year, it is possible to apply for permanent settlement (ILR) in the UK.

We looked at how many of these tier1 investor applicants obtained permanent resident status (ILR).  Our analysis reveal only one third (31%) of tier1 investors went on to become the permanent residents of the UK, according to Home office statistics.

A total of 1169 tier1 investors  received permanent settlement in the UK.  Russians are the biggest consumers of High value investor visas and also top the table for obtaining ILR

Conversely, this also means, Two thirds of these high value rich migrants did not become UK permanent residents. This is probably because the investor visa scheme requires them to live in the UK for 9 months in a year and not absent for more than 180 months and must UK as main home  to meet ILR conditions. Unlike UK, Golden visa countries such as Portugal, Spain and Greece do not require investors to live in the country

* No data available prior to 2008.