‘Money is the sixth sense that makes it possible to enjoy the other five’- Richard Ney
Nothing opens the gates to anywhere in this world than money. UK Tier 1 visa is now open to welcome all those wealthy people specifically Europeans, Chinese and Russians who are looking to escape unrest in their countries.
A news report in the Times detailed that London Home Office has approved 735 such applications from wealthy investors outside of UK for its UK residency permits. The entry to the country is through Tier 1 Investor visa that has the following provisions:
- An individual interested to gain residence in the UK has to invest in the government’s bonds, shares or loan capital
- The minimum investment requirement that the individual should do is £2m or approx. 19 crore rupees
- The other benefit that these wealthy investors can gain is by investing £10 million into shares or gilts, he/she is eligible for a permanent settlement in the UK just after 2 years
300 wealthy Chinese have spent £295 million till date.
Can’s and Cannot’s under this visa
- Can set up the running of a business
- Can work for your own business
- Can have family members with you
- Can form an entrepreneurial team and share the investment funds
- Cannot work elsewhere when running your own business
- Have access to public funds
News Source: BBC
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