How to Apply for an Investment Visa in the UK: A 2024 Guide

The United Kingdom is a business market that has been well-recognized for decades. It is among the most competitive and lucrative industries. In such a fast-moving industry, the UK has managed to cope by opening up the country’s borders to overseas talent and investors outside the EU. There are many visa options, and among them is the Investment Visa UK, also referred to as a Tier 1 (Investor) visa, a popular choice. This visa category specifically targets high-net-worth individuals who plan to bring significant financial resources into the country’s economy. However, this visa route no longer accepts applications.

The articles include the application process, eligibility criteria, benefits and associated drawbacks of the route, and alternative routes to this pathway—including self-sponsorship. This latter alternative has the potential to be particularly useful for entrepreneurs who wish to ensure they are financially qualified to apply for the Investment Visa UK.

Investment Visa UK Eligibility Criteria

The Investor visa requires the applicant to invest in active and trading UK companies. Such companies must not mainly deal with property investment, management, or development. This means that, regarding this visa category, you can not invest in a business that deals with property-related issues or their management and development.

In this category, the required minimum investment for an Investment Visa UK is £2 million in UK-based businesses. This amount must be invested in one or more regulated financial institutions and readily transferable to the UK. The applicant may own this money or jointly with their spouse or partner. Moreover, the applicant must demonstrate that they maintain such funds either for at least two years before the date of the application or provide proof that the money has been legally in their possession. The applicants have to invest in active and trading United Kingdom companies.

For a detailed understanding of the Investor visa requirement, watch the video below and get all your insights.

Application Process

The application process for this investment visa to the UK begins with the preparation of documents, accompanied by a valid passport and evidence that they have the finance for investment, along with proof of its source and a certificate showing that the applicant has no criminal record in the country where the person has spent 12 months or more in the previous ten years.

The correct details and documents need to be filled in in the online application on the official UK government’s website. Once the applicant submits the online application, they have to book an appointment at a UK Visa and Citizenship Application Services centre where biometric information—in the form of fingerprints and a photograph—will be taken.

This visa is usually processed within eight weeks. However, priority service at an additional fee is available for expedited processing if a fast-track decision is required, which could reduce the processing time to as much as five working days. The application is made for £1,884 per person and, in addition, with a surcharge on health care.

Advantages and Disadvantages

The Investment Visa UK offers the route to permanent residency and, eventually, British citizenship. A visa holder can apply for ILR after five years of residence and later apply for citizenship. Thirdly, there are no restrictions on working or business activities; thus, visa holders are free to work, study, or run any business.

On the other hand, some of the challenges of visas mainly include high financial requirements that not all interested applicants can afford. Another concern is investments made in businesses with market risks, which may devalue the amount invested and hence the visa status.

Self-Sponsorship as Alternative Route

One of the available alternatives is the self-sponsorship option, which is for those unable or unwilling to meet the high threshold levels expected by the UK Investment Visa. It is not a visa category in itself; it is a route through which a person can establish or expand a business in the UK and, in effect, sponsor themselves for a visa.

This pathway allows you to set up a UK-based company and apply for a sponsor license to enable the business to hire overseas employees, including the applicant. That means the only prerequisite is that the person must be able to meet the requirements for the sponsorship visa UK for a Skilled Worker visa—holding an offer with the company and having a minimum salary threshold.

One significant advantage of the self-sponsorship route is that it requires less money than the Investment Visa UK and gives much more flexibility in business activity options and visa stability. Therefore, it becomes more attractive to entrepreneurs who would like to run business activities in the UK without being bound by a substantial upfront investment.

Legal Guidance 

One can never afford to ignore expert legal advice when dealing with UK immigration law. This becomes highly relevant when considering visa applications such as the Investment Visa UK or self-sponsorship.

To this end, experienced legal practitioners, especially A Y & J Solicitors, provide highly detailed advice on a case-by-case basis. They can guide the interested party through every step, from the application to permanent residence and eventual citizenship, adhering entirely to the rule of law and maximizing the potential for success.

Conclusion

There is also the Tier 1 Investor Visa for HNWIs looking to invest in the United Kingdom instead of residency, with eventual citizenship an option. It’s a significant financial investment, and the market risks are not small. 

Self-sponsorship is easier, more flexible, and best suited for entrepreneurs. Since investment visas no longer accept applicants, it is your best alternative. Still, before applying, it is highly critical to seek professional legal advice. A Y & J Solicitors specializing in UK immigration can provide comprehensive support and guidance in reviewing applicants’ problems and helping them surmount obstacles to achieving their goals.