Investors
In order to be admitted to the UK in this category a migrant must gain 75 points. The points can be obtained in the following ways:
- have money of their own held in a regulated financial institution and disposable in the United Kingdom amounting to no less than £1 million – 75 points or
- own personal assets which, taking into account any liabilities to which they are subject, have a value exceeding £2 million; and
- have money under their control held in a regulated financial institution and disposable in the United Kingdom amounting to no less than £1 million, which may include money loaned to them provided that it was loaned by a financial institution regulated by the Financial Services Authority – 75 points.
The migrants in this subcategory will be permitted to work if they wish but only if they were granted leave to enter under the new PBS. They will also be exempt from the English language and maintenance requirement.
Extension
In order to extend leave to remain in this subcategory the migrants will have to gain 75 points at the time when they apply for an extension. The points can be gathered in the following way:
- 30 points
- have money of their own under control in the United Kingdom amounting to no less than £1 million; or
- 30 points
- own personal assets which, taking into account any liabilities to which they are subject, have a value exceeding £2 million; and
- have money under their control in the United Kingdom amounting to no less than £1 million, which may include money loaned to them provided that it was loaned by a financial institution regulated by the Financial Services Authority.
- 30 points
- invested not less than £750,000 of capital in the UK by way of UK Government Bonds, share capital or loan capital in active and trading UK registered companies (other than those principally engaged in property investment and excluding investment by the applicant by way of deposits with a bank, building society or other enterprise whose normal course of business includes the acceptance of deposits).
- 15 points
- made that investment within 3 months of gaining permission to enter the category and maintained the investment for the full period of leave.
Investors are exempt from the English language requirement because they will not be required to work and consequently there will not be the same necessity to be able to speak English. If an Investor switches into another category or applies for settlement they need to satisfy the appropriate English tests.
Investors will by definition be extremely wealthy so a separate maintenance test is not necessary for them.
Contact Jamie Kerr in our immigration team for more information.
