This visa is available to South Africans that have cash savings of a minimum amount of £2 000 000 (yes, two million Pounds). These funds have to be able to be transferred to the UK.
Further details about the expectations (and benefits) for this visa can be found on our “Tier 1 Investor visa” page.
Specifics of the Tier 1 (Investor) visa
Introducing the Tier 1 (Investor) visa:
Caters for South Africans that have access to strong cash savings (ie a minimum of £2 000 000 cash savings). The bigger picture though is that applicants need to transfer these funds across the UK (and they will eventually need to be invested in UK registered businesses – “share capital of UK firms”).
Duration of visa:
Tier 1 (Investor) visa is issued for the duration of 3 years.
Granted. This Tier 1 (Investor) visa grants settlement rights. Time spent in the UK counts toward earning British nationality.
Permitted. Immediate family members (married like partner and minors) are permitted to join the main applicant.
3 weeks. From the date of submission, applicants experience an average of 15 working day processing times.
Common Reason for Refusal:
Most of these cases are refused based on incorrect Maintenance Requirement and investment funds incorrectly being held.
Subject to the amount of funds transferred across, applicants can earn UK permanent resident status quicker. It takes 5 years of earn permanent residence with the £2m cash savings. It takes 3 years to earn permanent resident status with cash savings of £10m.
After 6 continuous years of UK residence, applicants can earn British nationality – and get a British passport (regardless of investment amount).
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