UK Investments and Source of Funding
The money should be held in the bank account for 3 months prior to application. If the money has been held in the bank account or portfolio for less than 3 months, then it is necessary to give specified evidence of the source of the money. The source of funding in this case can be one of the following:
- Sale deed
- Evidence from a business
- Divorce Settlement
- Award or winnings
- Other sources – this is on a case by case basis, specified evidence must be provided, we are able to liaise with the relevant Embassy/Home Office regarding this.
The minimum investment required is £2 million, which is enough for the initial application, though according to the new rules the qualifying period for settlement depends on the sums invested, so there are 3 categories:
- £2 million and more
- £5 million and more
- £10 million and more
At least £2 million must be invested in the UK by way of UK Government bonds, share capital in active and trading UK registered companies within 3 months of the specified date. If you were granted Entry Clearance as a Tier 1 (Investor) then your specified date is your date of entry to the UK. If you were granted Leave to Remain as a Tier 1 (Investor) then your specified date is the date your leave to remain is granted.
Money should be disposable in the UK which means that it is held in a UK based financial institution or, if held outside the UK, it must be freely transferable to the UK and convertible to sterling. It can include money belonging to the applicant's spouse, civil partner or unmarried or same-sex partner, provided that specified documents are provided.
From 06/04/2015 applicants will no longer need to invest additional capital if they sell part of their investments at a loss, but they will be required to maintain all their capital within their investment portfolios. Buying and selling investments will continue to be permitted, providing the investor does not withdraw any capital.
Applications will be refused if the British Embassy/Home Office has reasonable grounds that:
- The applicant is not in control of the funds;
- The funds were obtained unlawfully;
- The character, conduct or associations of a party providing the funds mean that approving the application is not conducive to public good.