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The British Home Office has created a programme in order to encourage foreign investment, opening the door for SA entrepreneurs to move to the UK.
According to Gary Kockott, the MD of Sable Group (a company dealing in foreign interests), the Tier 1 Entrepreneur Investment Programme may be a viable option for those wanting to sell off their assets in SA and immigrate to the UK.
“This bespoke UK citizenship investment programme requires an investment of £200 000 in a UK business opportunity for an applicant and their family to receive residency and possibly citizenship if all the requirements are met,” says Kockott, in a press release to Ventureburn.
“We match the investor’s skills and experience with a range of business investment opportunities while meeting the UK’s Tier 1 entrepreneur visa-qualifying criteria. It’s a win-win as it ensures a profitable investment into a UK business, while meeting the investor’s goals of UK residency.”
Those wanting to apply for the programme will be required to meet a minimum set of criteria. The individual will need to invest a minimum of £200 000 in a new or existing UK business, be the director of the business, and create two new jobs from the business.
The permit allows the individual to live and work in the UK for three years, with an option to extend it for a further two years. The holder will also need to demonstrate an English language ability of IELTS level 4.
The two-year extension requires the same criteria to be met with the addition of having the two new hires being employed for at least 12 months. The visa holder will need to demonstrate they are involved with the day to day operations of the company.
Those wanting permanent residency will be required to spend 185 days a year in the UK.
There is also the possibility of becoming a British citizen if you are in the UK for six years on the visa.
“This visa has a much lower entry cost than other UK investment visas, which require a minimum investment of £2-million,” he adds.
Once the applicant holds a Tier 1 visa, immediate family members are allowed to accompany them and apply for permanent residency after the five-year term.
“Once you have held permanent residence for a year, you may begin the process of naturalisation, after which you may apply for a passport,” concludes Kockott.
Feature image: Pedro Szekely via Flickr.