At 4pm on February 17, the Home Office has closed Tier 1 (Investor) visa route to new applicants. Pending applications for Tier 1 (Investor) visas will not be affected and all those already in the UK under this route will be able to extend their visas and apply for indefinite leave to remain (if they meet other conditions).
Pending Applications for Tier 1 (Investor) Visas
Pending applications for Tier 1 (Investor) visas are unaffected – the Statement of Changes CP632 clearly sets out:
The changes set out in this statement shall take effect at 1600 on 17 February 2022. In relation to those changes, if an application for entry clearance, leave to enter or leave to remain has been made before 1600 on 17 February 2022, such applications will be decided in accordance with the Immigration Rules in force on 16 February 2022.
Applications for Extension of Stay and Settlement as a Tier 1 (Investor)
The existing Tier 1 (Investor) visa holders will also continue to be able to apply to extend their stay and settle in the UK. The Explanatory Memorandum provides as follows:
7.1 The effect of this Statement of Changes in Immigration Rules is to close the Tier 1 (Investor) Migrant route, as set out in Part 6A of the Immigration Rules, to new applications. These changes preserve the ability of those who already have leave to enter or remain as a Tier 1 (Investor) Migrant to extend their stay in the route, including an applicant’s ability to make an application for entry clearance outside the UK if they have held leave as a Tier 1 (Investor) Migrant in the 12 month period preceding the date of application, and to apply for settlement.
The deadline for extension applications will be 17 February 2026, and the deadline for applications for indefinite leave to remain as a Tier 1 (Investor) will be 17 February 2028.
Why Has the Tier 1 (Investor) Visa Route Closed?
The Home Office stated reasons for closure and related those to security concerns about the source of funds, despite amendments to the route in 2019 to address such concerns.
For advice and assistance if you planned to apply a Tier 1 Investor visa application, extending your leave or applying for settlement as a Tier 1 Investor, please contact our immigration consultants in London.
ORACLE CAPITAL GROUP provide immigration support in obtaining a visa, extending an existing visa and obtaining a British residency permit with the prospect of becoming a British citizen.