Changes to UK immigration rules come into effect
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Rules for foreign investors looking to stay in the UK are changing. The new rules, which were announced in October, come into play today (6th November) and mean that the £1m minimum investment threshold will be increased to £2m.
There are also changes to Tier 2 of the points based system designed to exclude applicants who are applying for a job which does not genuinely exist, or where there are grounds to believe that the applicant is not qualified to do the job.
Now Entry Clearance Officers will be permitted to perform an assessment on the job itself with the expectation that the changes will move the system away from a purely objective points based system.
People looking to invest in the UK, the raising of the threshold of the Tier 1 Investment Visa was based on recommendations made by the Migration Advisory Committee which were made earlier in 2014.
Amongst other changes to the Tier 1 Investor Visa rules, the full £2m investment must be either a share or loan capital in UK companies which are active and trading – or UK Government bonds. This is a change from a requirement for foreign investors to hold up to 25% of the funds in a UK bank account or an investment into other UK assets.
The changes will not affect any existing UK visa holders.
If you would like to know more about the changes and what they might mean if you were considering a UK Visa Application, we can arrange for you to speak to an Immigration Lawyer who will be able to discuss your options in full.