Tier 1 (Investor) rules changing from 6 April 2019
Changes are being made to the Tier 1 (Investor) rules.
The changes will require investors to provide evidence of the source of any investment funds they have obtained within the last two years (up from 90 days at present). Investments in government bonds will no longer count and the rules around in investment in companies will be tightened. In addition, UK banks will have to confirm that they have carried out the requisite checks before opening an investment account.
The changes apply from 6 April 2019 for applications made on or after 6 April 2019. The changes will not apply to applications made before 6 April 2019.
The government has said that it also intends to require investors to undergo enhanced checks on their financial situations and business histories by a UK-regulated auditor before making a visa application. There will be further Rule changes dealing with this.
The government threatened a suspension of the Tier 1 investor visa in December 2018 and whilst this was not implemented, it indicated that it planned to reform the route so Rule changes were expected.
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