UK Passport through Tier 2 and Tier 1 Investor Visa

UK Passport through Investor Visa
May 31, 2021 | | UK Visa |

The UK, with its entrepreneurial spirit, strong economy, and high living standards, has been a hot spot for several business people from all around the globe. Every year, many foreigners come to this region to work or study and to start a business. However, when it comes to acquiring the UK passport, you are required to speak basic English, provide the history of your experience and education and meet various stringent criteria of the entire UK immigration authorities. But, applicants from the Tier 1 UK Investor Visa are nothing but a happy exception.

Tier 1 UK Tier 1

Those investors seeking a residency visa for the United Kingdom can think about getting through the Tier 1 UK investor visa. You will have to invest around £2 million. Post that, the government will allow you and your immediate family temporary residency in the country. Such a residency can last for more than three years.  Besides, applicants can apply again to extend their stay and residency for a further of 2 years. Moreover, investors have an option to apply for indefinite leaves in order to remain after half a decade.

To qualify for the UK investment visa, given below are the figures you will have to invest.

  • £10,000,000 to settle in 2 years
  • £5,000,000 to settle in 3 years
  • £2,000,000 to settle in 5 years

UK Start-Up & Innovator Visa 

The country’s government closed the Tier 1 UK Investment Visa in the month of March 2019 and replaced the program with the UK Start Up and Innovator Visa. These visa types are designed for entrepreneurs willing to build innovative companies or industries that are endorsed by endorsing bodies in the United Kingdom.

This is one of the key distinctions from the entrepreneur visa in effect earlier. Here, the applicant should have an original and genuine business plan.  The plan should also meet existing or new market requirements, creating a competitive advantage. Moreover, applicants should comprise the necessary knowledge, skills, market awareness, and experience to successfully maneuver through and run the business with structured planning.

Start Up Category

This category is primarily for early-stage and high potential entrepreneurs. Some of its key features are given below:

  • No funds required
  • Applicants can stay with their families for a couple of years
  • During the stay, applicants will only work to develop their business
  • Post two years, applicants can make a switch to the other category – Innovator

Innovator Category

This category is for experienced business people. Some of its key features are given below:

  • £50,000 – minimum investment
  • Applicants are allowed to reside in the country with immediate families for three years
  • After these three years, they can extend the stay for a further three years. You can also permanently settle in the UK.

Tier 2 Visa

Before you apply for these citizenship criteria, you must qualify for IL (indefinite leave) to remain. One of its requirements is to have worked and lived in the United Kingdom for five continuous years. If you happen to switch to a tier 2 visa, you have to invest and build your profile from scratch for five years. In the United Kingdom, the PR allows EU nationals who hold the status to work and live in the UK indefinitely, where they do not have to apply for any UK investment visa to stay put in the country.

ILR or indefinite leave to remain is for those nationals who are in the United Kingdom on a specific visa. One can simply apply for PR or ILR after staying in the country for five years.