From 17th Feb’22 Tier 1 Investor visa is closed for application by the Home Office. However, if you already hold a Tier 1 Investor visa, you can extend your visa for a further 2 years to continue to stay in the UK.
What is Tier 1 (Investor) Visa?
A Tier 1 Investor Visa was designed for for people who would like to invest £2 million or more in the UK. This visa attracted high-net-worth individuals to invest in the UK with an initial Leave to remain permission of maximum of 3 years and 4 months under a Tier 1 Investor Visa.
How to Extend a Tier 1 (Investor) Visa?
Whether you’re inside or outside the UK, you must apply online to extend your Tier 1 Investor visa. Your dependents (spouse or children) can also apply for the extension under your visa, they can either apply at the same time as you, or at any time before their current visa expires.
It can be complex when applying for an extension, you’ll need to meet the eligibility requirements and show sufficient evidence regarding your specific situation.
If you need professional advice and assistance in applying for extending your Tier 1 Investor visa, please speak to one of our experts here, or call 07888-193300 or 020 8087 2343.
Requirements for Tier 1 (Investor) Visa Extension:
If you were granted initial Tier 1 (Investor) entry clearance between 6 November 2014 and 28 March 2019, you must show that you:
- have at least £2 million under your control in the UK
- have invested those funds in UK government bonds, share capital or loan capital in active UK companies
- invested this sum within 3 months of your ‘investor start date’
Investor start date
Your ‘investor start date’ is either:
- the date you came into the UK (if you have proof of this)
- the date your original visa application or switch from a different visa category was approved (if you cannot prove your date of entry)
If your initial Tier 1 (Investor) visa was granted on or after 29 March 2019, you must show that you:
- have invested at least £2 million in the UK by way of UK share capital or loan capital in active and trading UK registered companies.
The investment referred to above must have been made:
- within 3 months of your entry to the UK
- within 3 months of the date of the grant as a Tier 1 (Investor) Migrant
- where the investment was made prior to the first grant of leave as a Tier 1 (Investor), no earlier than 12 months before the date of the application which led to the first grant of leave as a Tier 1 (Investor) Migrant
and, in each case, the level of investment must have at least been maintained for the full length of your visa.
Documents you must provide for Tier 1 (Innovator) visa extension:
The documents you must provide include evidence of your investment portfolio, as well as documents relating to your identity. You’ll need to provide:
- investment portfolio reports produced by a UK regulated financial institution that shows you’ve met the investment eligibility requirements and maintained your investments for the full length of your visa
- a current passport or other valid travel identification
- your TB test results if you’re from a country where you have to take the test
- a criminal record certificate from any country you have stayed in for a total of 12 months or more over the last 10 years
You need a blank page in your passport for your visa.
If any of your documents are not in English or Welsh, you must provide a certified translation.
Fees for Tier 1 (Innovator) visa extension:
- To apply for extending the Tier 1 (Innovator) visa, the fee is £1,638 per person
- You’ll also need to pay the Immigration Healthcare Surcharge (IHS) which is £624 per person per year, however, if your children are under 18 years old, the IHS fee is £470 per person per year.
- As biometric information (normally fingerprints and photo) is required for visa extension, this will usually cost £19.20, however, the price may vary if you’re applying from outside of the UK.
If you want a priority service, you can pay an extra £500 to get a decision within 5 working days.
How long does it take?
- It usually takes 8 weeks to get a decision if you use the standard service
- It usually takes 5 working days if you use the priority service
You'll be contacted if your application is complex and will take longer. This could be because:
- your supporting documents need to be verified
- you need to attend an interview
- of your personal circumstances (for example if you have a criminal conviction)
Need professional advice from an expert? – contact WorkPermitCloud
The process for applying for Tier 1 Innovator visa extension is complex, you’ll need to know everything you need to prepare before you submit the application, you can book our professional Immigration service to make your application bundle ready for extension.
WorkPermitCloud is regulated by Office of the Immigration Services Commissioner (OISC).Our professional immigration advisers would like to assist you throughout the journey to maximise the probability of success
We offer:
- Support by a dedicated and experienced immigration advisor
- Check supporting documents, and advise necessary amendments
- Assist in filling out the visa application form(s)
- Check and review your application before submitting it to the Home Office
- Submit visa application on your behalf to the Home Office
- Act as your nominated agent for all communication with the Home Office, up to and including the receiving of your visa application's decision
- Provide professional Immigration advice by letter, email, phone, or in-person throughout the process of completing your visa application as needed
- Once you've got a decision on your visa application, give professional guidance on what to do next.
- Cost forecast
- Correspondence and follow up with Home Office
If you wish to require any further information about the cost please contact us at: sales@workpermitcloud.co.uk
Reference:
https://www.gov.uk/tier-1-investor/extend-your-visa
https://www.gov.uk/government/publications/guidance-on-application-for-uk-visa-as-tier-1-investor
