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Changes to the Investor Rule
With effect from 13th January 2004, the Immigration Rules were changed in respect of Investors.
Investors were defined as people who were prepared to bring the sum of 1 million pounds of their own money to the UK, and invest it here in a limited, and strictly defined manner, as well as being prepared to make the UK their main home.
The rule change introduces an alternative method of becoming an Investor, still keeping the old definitions if required, but now an applicant can, if they wish, demonstrate they have a net worth of 2 million pounds. In addition, although they would still undertake to bring 1 million pounds to the UK, they are now permitted to borrow some or all of the money from an institution which is regulated by the Financial Services Authority.
The rule relating to the range of investments is maintained, as is the requirement the applicant makes the UK their main home.
In August 2005 the UK Home Office clarified the amount of time that foreign investors settling in Britain are allowed to spend outside the UK. The Home office has ruled that people in the UK on the investor visa scheme could not leave the UK for more than 6 months in a four year period in order to qualify for permanent residence. However, permitting investors to leave the UK for just six months in a four year period could have stopped overseas entrepreneurs and senior professionals from coming to the UK as these criteria could be difficult to meet. Instead of 6 months, investors will be allowed to spend up to a year out of the country in the four years before they submit their applications for permanent residence, provided that none of the individual trips is for more than 3 months.
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