Investor Visa

• What is the Points Based System?

• When did it start?

• How do I apply?

• What do I need to make my application?

• What are my biometric details?

• What are Visa Application Centres (VACs)?

• How are the points calculated?

• What supporting documents should I include with my application?

• How long will I be able to stay in the UK?

• Can I appeal if my application is refused?

• What is Administrative Review?

• Can my dependants join me in the UK?

• What do my dependants need to make an application?

• What supporting documents should my dependants include with their application?

• What fee will my dependants pay?

• What are public funds?

• Check your visa

• More advice and information

What is the Points Based System?

The Points Based System (PBS) is a system for managing migration for those wishing to enter the UK for work or study.

When did it start?

Tier 1 (General) Migrant of the Points Based System was launched for foreign nationals living in the UK on 29 February 2008 and replaced the Highly Skilled Migrant Programme (HSMP). On 30 June 2008 three additional sub-tiers were rolled-out and the programme was extended to include applicants resident overseas. The four sub-tiers are Tier 1 (General) Migrant, Tier 1 (Investor), Tier 1 (Entrepreneur) and Tier 1 (Post-Study Work). Tier 2 for Skilled Workers and Tier 5 for Temporary Workers and the Youth Mobility Scheme were launched worldwide on 27 November 2008. See the companion leaflets in this series for the other PBS routes. The first stage of Tier 4 (General) Student and Tier 4 (Child) Student is rolled-out on 31 March 2009. 

What do I need to make my application?

• Your passport or travel document;

• The application forms VAF9 (please ask) and Appendix 2 (please ask)with all mandatory sections completed;

• The fee as published on the visa fees page on this website. This cannot be refunded and you must pay in local currency;

• Your biometric details (see below);

• A recent passport sized photograph
  Please note: photographs should measure 45mm x 35mm and be:

  • in colour taken against a white background;

  • clear and of good quality and not framed or backed;

  • printed on normal photographic paper;

  • full face and without sunglasses, hat or head covering (unless it is worn for cultural or religious reasons but the face must not be covered)
    (If the application is successful, the photographs provided will be reproduced on the visa vignette.)

• All documents as specified in the Tier 1 (Investor) Guidance as stated in the Immigration Rules.  If you do not submit relevant documents, your application is likely to be refused as we will be unable to award the relevant points.

What are my biometric details?

Biometric details are scans of all 10 fingers and a full-face digital photograph. You will need to provide your biometric details in person. The whole procedure should take no more than 5 minutes to complete. Your visa application will not be processed until you have met this requirement.

What are Visa Application Centres (VACs)?

In some countries we are working with commercial companies to run Visa Application Centres. The VACs are in largely populated areas making it easier and more convenient for people to apply for a UK visa. Trained staff at each VAC deals with all visa enquiries and applications. They collect your biometric information along with the relevant fees and provide unbiased advice on the application process, including whether or not you have included all the necessary documents. Entry clearance staff at the British mission will then consider your application and decide whether to issue or refuse your visa. VAC staff will have no say in this decision.

How are the points calculated?

Points are awarded for what are called "Attributes", for which you need to score a minimum of 75 points.  In order to be awarded these you must have either:

• Money of your own held in a regulated financial institution which is disposable in the United Kingdom amounting to no less than £1 million; or

• Personal assets, taking into account any liabilities, which have a value exceeding £2 million.  Assets held by your husband, wife, civil partner, unmarried or same sex partner either jointly or in your partner’s own name can be taken into account when assessing your net worth; and

• Money under your control held in a regulated financial institution which is disposable in the United Kingdom amounting to no less than £1 million which has been loaned to you by a financial institution regulated by the UK Financial Services Authority (FSA).  You may not mix personal funds and borrowed funds in order to meet the total £1 million investment.

The money may be held overseas at the time of application or it may already be in the United Kingdom.  If the money is not held in pounds sterling you must convert its value into pounds sterling on the application form. 

You may rely on money you own jointly with your husband, wife, civil partner, unmarried or same sex partner.  You may also rely on money owned solely by your husband, wife, civil partner, unmarried or same sex partner.  If the funds are held jointly you must have unrestricted right to transfer and dispose of the funds and have permission from your husband, wife, civil partner or unmarried or same sex partner to have control of these funds in the United Kingdom. 

There is no requirement to demonstrate English language ability or to provide separate funds for personal maintenance. 

What supporting documents should I include with my application?

You should include originals of all documents specified.  They must be on the official letter-headed paper or stationery of the organisation and must have been issued by an authorised official of that organisation.  You should also provide a copy of each document. Where a document is not in English or Welsh, the original must be accompanied by a fully certified translation by a professional translator.  This translation must include details of the translator’s credentials and confirmation that it is an accurate translation of the original document.  It must also be dated and include the original signature of the translator.  If you do not provide the specified documents, we will not contact you to ask for them.  Therefore, if you fail to send the correct documents we may refuse the application.

You should provide full contact details for each document supplied.  You should also provide any information/explanation of the documentation submitted, that may assist us in our consideration.
 

IF USING YOUR OWN MONEY (OR THAT OF YOUR HUSBAND, WIFE, CIVIL PARTNER, UNMARRIED OR SAME SEX PARTNER)

 Evidence of funds
You must provide one or more of the documents listed below.

• Portfolio report or breakdown of investments produced by an authorised financial institution (AFI) covering the three consecutive months immediately before the application
  
  If the money has been in the United Kingdom in the previous 12 months you may use a report produced by an authorised financial institution or provide a breakdown of your investments in a letter from the institution.  The letter must be original on the official letter headed paper of the institution and authorised by an official of that institution. The portfolio report or letter must confirm all of the following:

  • the amount of funds held in the investment;

  • the beneficial owner of the funds (this must be the applicant and/or husband, wife, civil partner, unmarried or same sex partner);

  • the date of the investment period covered;

  • that the institution is regulated by the Financial Services Authority with details of the registration shown on the documentation;

  • that the money can be transferred to the United Kingdom; or

  • that the money has already been invested in the United Kingdom in the form of UK Government bonds, share capital or loan capital in active and trading companies registered in the UK.  The dates of investments must be included.  Investments must have been be made within the 12 months immediately before the date of the application.
    
     

• Portfolio not managed by a regulated financial institution covering the three consecutive months immediately before the application
  
  You must provide one or more of the documents from the list below as relevant to the type of investment:

  • certified copies of bond documents, showing value, date of purchase and name of owner;

  • share documents showing value, date of purchase and name of owner;

  • the organisation’s last audited accounts showing loan capital investment.
    These accounts must clearly show:

    • the amount of funds held in the investments;

    • your name (or that of yourself and/or your husband, wife, civil partner, unmarried or same sex partner);

    • the date of investment.

  • Where no accounts have been produced a certificate from an accountant showing the amount of funds held in the investments may be acceptable. The accountant must be a member of a recognised supervisory body in the country in which they operate.

  • Trust fund document showing value, date of purchase and name of owner.
    
     

• Personal bank statements regulated by the home regulator showing the amount of cash available in your name or that of yourself and/or your husband, wife, civil partner, unmarried or same sex partner covering the three consecutive months immediately before the application
  
   

  • statements must be original on official bank stationery showing the full amount of cash available;

  • electronic bank statements must be accompanied by a supporting letter from an authorised official of the bank on the institution’s official headed paper confirming the content and that the document is genuine.  If you wish to submit electronic bank statements from an online account, you should also provide a supporting letter from your bank on the institution’s official headed paper confirming the content and that the document is genuine.  This letter must have been issued by an authorised official of that instiuion.  If the full amount does not appear in all of the bank statements from the 3 month period then you must also provide evidence of the source of the money, from the list of additional evidence from the list below;

  • the bank must be regulated by the home regulator.
    
     

• Letter from a bank that is regulated by the home regulator confirming that you (or you and/or your husband, wife, civil partner, unmarried same sex partner have held the required amount of cash for the three consecutive months immediately before the application

If you cannot provide bank statements we will require a letter from your bank confirming that you have held the required amount of cash for the full three months before the application.  This must be original on the institution’s official headed paper and issued by an authorised official of that institution.  The letter must confirm all of the following:

Evidence of source of funds

If the money has not been held in the portfolio or bank account for three months or more, you must provide every item of evidence to establish the source of your funds. The following sources of funds is acceptable if the evidence specified below is provided:
 

•  

  • gift;

  • deeds of sale;

  • evidence from a business;

  • will;

  • divorce settlement; or

  • award or winnings.
    
     

• Gift - original documents in the form of an irrevocable memorandum of gift and letter from a legal adviser
  
   

  • irrevocable memorandum – this is an official document that confirms a gift to you (or to you and/or your husband, wife, civil partner, unmarried or same sex partner) and must be within the three months immediately before the application. You must supply the original document together with confirmation from a legal adviser that the memorandum of gift is valid and binding according to the laws of the country in which it was made.
     

  • letter from a legal adviser – this must be an original letter from a legal adviser permitted to practise in the country where the gift was made.
    
     

• Deeds of sale – original documents in the form of deeds of sale of assets and letter from a legal adviser
  
   

  • deeds of sale of assets – these may be deeds for a business or property if funds from the sale of these have been generated in the three months immediately prior to the application.  You must supply the original document together with confirmation from a legal adviser that the sale was genuine and the funds are available to you.

  • letter from a legal adviser – this must be an original letter from a legal adviser permitted to practise in the country where the sale was made.
    
     

• Evidence of a business – original documents in the form of business financial accounts and letter from a legal adviser
  
   

  • business financial accounts – You must supply the original accounts together with confirmation from a legal adviser that the accounts are genuine and that you can lawfully extract the cash from the business.  The accounts must be profit and loss (or income and expenditure if the organisation is not trading for profit) and the balance sheet should be signed by a director.  Accounts should be prepared in accordance with statutory requirements and clearly show the amount of cash available for investment.

  • letter from a legal adviser – this must be an original letter from a legal adviser permitted to practise in the country where the business operates. 
    
     

• Will – notarised copy of a will and letter from a legal adviser confirming the will’s validity
  
   

  • will – if you (or you and/or your husband, wife civil partner, unmarried or same sex partner) have been the beneficiary of a will within the three months before making the application and received cash as a result you must provide a notarised copy of the will together with a letter from your legal adviser confirming the validity of the will.  If you received assets and possessions rather than cash you may not use estimates of the value of the items as evidence of funds for investment.

  • letter from a legal adviser – this must be an original letter from a legal adviser permitted to practise in the country where the will was made. 
     

• Divorce settlement – notarised copy of a divorce settlement and letter from a legal adviser confirming that the document is valid
  
   

  • divorce settlement - if you (or you and/or your husband, wife civil partner, unmarried or same sex partner) have obtained money as a result of a divorce settlement within three months before making the application and have received cash as a result you must provide a notarised copy of the divorce settlement together with a letter from your legal adviser confirming that the document is valid. If you received assets and possessions rather than cash you may not use estimates of the value of the items as evidence of funds for investment.

  • letter from a legal adviser – this must be an original letter from a legal adviser permitted to practise in the country where the divorce took place. 
     

• Award or winnings – in the form of an original letter from an organisation issuing the financial award or winnings and letter from a legal adviser
  
   

  • winnings – the winnings must be declared genuine by an original letter from the organisation issuing the award or winnings and you must also provide a letter from your legal adviser confirming that the document is valid. 

  • letter from a legal adviser – this must be an original letter from a legal adviser permitted to practise in the country where the award was made. 
     

• Other sources of funds
  
  If you (or you and/or your husband, wife civil partner, unmarried or same sex partner) receive money from a source not listed above you must provide original documentation as evidence of the source of funds together with independent supporting evidence. 

 Evidence that the funds can be transferred

All of the £1 million funds required to meet the Tier 1 (Investor) requirements must be freely transferable to the United Kingdom and convertible to pounds sterling.  If your funds are not held in the United Kingdom or you do not have a portfolio of investments in the United Kingdom you must provide a letter from your bank or financial institution as evidence that the funds can be transferred to the United Kingdom.  The institution must be regulated by the home regulator (official regulatory body for the country in which the institution operates).  The letter must be an original on the official letter-headed paper of the bank or financial institution and must confirm:

• the name of the beneficial owner (you or you and/or your husband, wife, civil partner, unmarried or same sex partner);

• the date of the letter;

• the amount of money to be transferred;
   

• that the money can be transferred to the United Kingdom; and

• that the institution will confirm the content of the letter to us on request.
   

 Evidence required for joint funding

If your funds are held jointly with your husband, wife, civil partner unmarried or same sex partner then that person must give permission for you to control these funds in the United Kingdom, and a document stating this must be sent with the application.  You must provide evidence from each of the following three sections:

• your original certificate of marriage or civil partnership to confirm your relationship.  This should include your name and that of your husband, wife or civil partner or evidence to demonstrate at least a two-year relationship similar in nature to marriage or civil partnership. 

• a declaration from your husband, wife, civil partner, unmarried or same sex partner that he/she will permit all joint or personal funds used to claim points for the application to be under your control in the United Kingdom.  This must be an original document.  The effect of the document is that your husband, wife, civil partner, unmarried or same sex partner is not able to access the funds without your consent and you must be able to use the funds freely without the consent of your husband, wife, civil partner, unmarried or same sex partner.

• a letter from a legal adviser confirming that the declaration is valid.  This is a legal adviser who is permitted to practise in the country where the declaration was made.

IF USING MONEY LOANED BY A FINANCIAL INSTITUTION REGULATED BY THE FINANCIAL SERVICES AUTHORITY (FSA)

You will need a letter of confirmation produced by an authorised financial institution in the United Kingdom.  This must be an original letter on the official letter-headed paper of the institution and must confirm the following:

• that not less than £1 million is available for you to borrow: and

• that the funds are available on the date that the letter is issued; and

• that the authorised financial institution is regulated by the Financial Services Authority; and

• that your personal net worth is at least £2 million

• that the institution will confirm the content of the letter to us on request.

Additional documentary evidence required for sponsored students
If you had permission to be in the UK in the last 12 months as a student, student nurse, student re-sitting an examination or postgraduate doctor or dentist, you may have been sponsored by a Government or international scholarship agency.  If you are currently sponsored by one of those or that sponsorship ended within the past 12 months of this application being made, you must provide us with your sponsor’s unconditional consent in writing giving you permission to re-enter the UK.  Without this we will refuse your application.  The evidence must be original, on the official letter-headed paper or stationery of the organisation and bear its official stamp.  It must have been issued by an authorised official of that organisation.  If you have received private sponsorship, for example from an employer or relative we do not need the sponsor’s consent.

We will refuse your application if we find that any documents are false.

How long will I be able to stay in the UK?

The visa will be issued for a maximum period of two years.

Can I appeal if my application is refused?

Outside the UK a refusal of entry clearance under PBS does not attract a full right of appeal. You can appeal only on one or more of the following grounds referred to in Section 84(1)(b) and (c) of the Nationality, Immigration and Asylum Act 2002:

• that the decision is unlawful by virtue of Section 19B of the Race Relations Act 1976 (c.74) (discrimination by public authorities), and/or

• that the decision is unlawful under Section 6 of the Human Rights Act 1998 (c.42) (public authority not to act contrary to Human Rights Convention) as being incompatible with the appellant's Convention rights.

However, all applicants can apply for an Administrative Review, which is a mechanism for reviewing refusal decisions.

What is Administrative Review?

If we refuse an application for entry clearance and you think that an error has been made, you can ask us to check our decision. This is known as an Administrative Review.

You must complete this in full and send it directly to the address stated on the Request Notice.

You must not send any additional documents such as passport/travel document or supporting documents with the Administrative Review Request Notice. If the refusal is subsequently overturned, you will be asked to send in your passport/travel document. You may request only one Administrative Review per refusal decision. Any further review requests for the same refusal decision will not be accepted and will be returned to you.
 

The Administrative Review will be completed within 28 days and you will be notified of the result in writing. The result of the Review may be sent from a different Post to where the original decision was made, to ensure that the Review is independent.

If you are already in the United Kingdom you cannot apply for an Administrative Review.

Can my dependants join me in the UK?

Your husband, wife, civil partner or eligible partner and children under 18 can join you as your dependants in the UK provided they have a visa for this purpose.

Partners (married, unmarried, same sex) must intend to live together and the relationship must be subsisting.  They must be maintained and accommodated without needing any help from public funds.  Your partner must not intend to stay beyond any period of leave granted to you.

If your dependent child is working full-time or earning enough money to support himself/herself, it is unlikely that he/she will qualify for entry to the UK as a dependant.  Dependent children must also be able to demonstrate that they have not formed their own independent family, are unmarried and not leading an independent life.  If a dependent child has previously been married or formed a civil partnership, or lived in a relationship that is similar to marriage or civil partnership, he/she will usually be considered to have formed an independent family and will not be eligible to enter the UK as the dependant of his/her parents. Although dependent children may seek employment whilst in the UK they must remain financially dependent on their parent to qualify as dependants.

What do my dependants need to make an application?

Your dependants will need entry clearance but will not themselves be entering the UK under the Points Based System. They will need to satisfy similar conditions to those in Paragraphs 194-199 of the Immigration Rules which can be found on the UK Border Agency website. They will need to make their application using form VAF10 either online or on paper depending upon the facilities available in the country in which they are applying. They will also need the following:

• their passport or travel document;

• a recent passport sized photograph (if the application is successful, the photographs provided will be reproduced on the visa vignette)
  please note - photographs should measure 45mm x 35mm and be:

  • in colour taken against a white background;

  • clear and of good quality and not framed or backed;

  • printed on normal photographic paper;

  • full face and without sunglasses, hat or other head covering (unless it is worn for cultural or religious reasons but the face must not be covered)

• the visa fee. This cannot be refunded and they must normally pay it in the local currency of the country where they are applying;

• their biometric details;

• supporting documents relevant to their application.

What supporting documents should my dependants include with their application?

Your dependants should include all the documents necessary to show that they qualify for entry to the UK as your dependant. If they do not, we may refuse their application.

As a guide, your dependants should include:

• evidence of their relationship to you;

• evidence that there is £1600 (or £533 if you have been in the UK for more than 12 months) for each dependant, in your or their personal bank account for maintenance, and that the money has been there for at least 3 months prior to the date they make their application; and

• a copy of the pages from your passport/travel document showing your permission to stay, if you are already in the UK.

We will refuse their application/s if we find that any documents are false.

What fee will my dependants pay?

They will pay the same fee as you.

What are public funds?

Under the Immigration Rules, if you want to travel to the UK, you must be able to support yourself and any dependants without claiming certain benefits.

Check your visa

Please check your visa when you get it. You should make sure that:

• your personal details are correct

• it correctly states the purpose for which you want to come to the UK, and

• it is valid for the date on which you want to travel. (You can ask for it to be post-dated up to three months if you do not plan to travel immediately).

More advice and information

Please read other guidance on this website. The full list is accessible through links on the left hand side of this page.

If you are outside the UK please contact your nearest visa application centre (VAC) or where no VAC is in operation, your nearest British mission where there is a visa section.

Where can I get immigration advice?

If you need help with your application or advice about the UK’s Immigration Rules and requirements, you should seek advice from a qualified immigration adviser.  In the UK these are immigration advisers regulated by the Office of the Immigration Services Commissioner or legally qualified professionals regulated by designated professional bodies.  The Law Societies of England, Wales, Scotland and Northern Ireland and the Institute of Legal Executives can provide a list of Law Firms who can advise on immigration matters.  

For more advice and information about extending your stay once you are in the UK:

The UK Border Agency
Croydon Public Caller Unit
Lunar House
40 Wellesley Road
Croydon CR9 2BY


For advice on bringing personal belongings and goods into the UK contact:

HM Revenue & Customs
Dorset House
Stamford Street
London SE1 9PY

Drugs warning
Anyone found smuggling drugs into the UK will face serious penalties. Drug traffickers may try to bribe travellers. If you are travelling to the UK, avoid any involvement with drugs.

False documents
It is better to explain why you do not have a document than to submit a false document with an application. Applicants will be automatically refused and may be banned from coming to the UK for 10 years if they use a false document, lie or withhold relevant information.  They may also be banned if they have breached immigration laws in the UK.

Travellers to the UK who produce a false travel document or passport to the UK immigration authorities for themselves and/or their children are committing an offence. People found guilty of this offence face up to two years in prison or a fine (or both).

Download Forms

Application Form

Guide Notes

Other Important Forms