FAQs about the Tier 1 (Investor) UK Visa Route
I am About to Receive Expensive Possessions (and/or Money) Under Will. Can I Use Possessions (and/or Money) as Evidence of Funds for Investment?
It depends whether you receive money or possessions under this will. You cannot use assets or possessions such as property as evidence of your funds for investment. You will be allowed to rely on funds only if you received money.
When Do I Need to Make My Investment?
You must have made the investment within 3 months of your specified date. This is unless there are exceptional reasons for the delay in investing. If you already made your investment in the UK, the‘specified date’ must not be earlier that 12 months before the date of that application. If you have not made your investment as yet, your specified date will be the date you entered the UK as a Tier 1 (Investor). You will need to provide evidence to establish this date. If you are unable to provide evidence of entry the specified date will be within the 3 months from the date that you were granted entry clearance, leave to enter, or leave to remain in the category. If there are exceptionally compelling reasons for the delay in investing we will consider waiving this requirement, but the reasons must be unforeseeable, and outside of your control.
Can I Pay Various Fees (e.g. Tax, transaction costs, managing costs, legal fee etc) from the Investment Fund?
Only if you have invested more than the required investment, you can pay the fees, transaction costs and tax referred to above from the surplus investment. This is if the surplus investment was made at the same time or before the fees, transaction costs and tax were incurred. For example, if you score points for investing £2million, but have actually invested £2.1million in qualifying investments, up to £100,000 in fees, transaction costs and tax may be paid from the investment funds. You must have invested £2.1million at or by the time you pay these costs. You cannot pay any fees, transaction costs and tax out of the £2million investment and invest a further £100,000 at a later date to compensate.
FAQs about the Tier 1 (Investor) UK Visa Route
My Parents Made Me a Gift of £2.5mln, which I Want to Use to Make the Tier 1(Investor)application. What Documents Do I Need to Submit?
You need to provide documents in the form of a) an irrevocable memorandum of gift and b) a letter from a legal
adviser.
- a) If your parents gave you money, they must send an irrevocable memorandum of a gift (an official document that confirms the gift) as evidence, plus confirmation from a legal adviser. Irrevocable means that the person who gave the gift cannot insist on having it back.
- b) Your legal advisor needs to provide a confirmation letter. This legal adviser needs to confirm that s/he is permitted to practise in the country where you received the gift. The confirmation letter should clearly show all of the information on this list:
- the name of the legal adviser who is confirming the details;
- the registration or authority of the legal adviser to practise legally in the country in which you received your gift;
- the date of the confirmation of the memorandum;
- the names of the person giving the gift and the person receiving it;
- the amount of money given;
- the date that you received the money;
- your legal advisor need to sign the memorandum;
- that the gift is irrevocable;
- your legal advisor needs to confirm that the memorandum is binding. It should be binding according to the laws of the country where you received your gift;
- the relationship between the person giving the gift and the person receiving it.