As you likely know, you will need to invest at least £5 million in the U.K. if you wish to apply for ILR after three years. In order to be eligible for ILR you also need to satisfy the following: 1. Residency requirements: You cannot have spent more than 180 days out of the U.K. in any 12-month period. 2. Knowledge of life and language: You need to have passed the "Life in the U.K. test" and have an appropriate English-language qualification (at level B1) from an approved English language center. 3. You should have a clean criminal record. Please note this is generic legal advice, and I would only be able to advise properly once I have specific facts.
What are the requirements for extending a U.K. tier 1 visa?
I am in process of opening a financial services business in Brighton for a U.K. tier 1 Visa. I would like to obtain permanent residency after the initial three years and four months are up. What are the additional requirements needed to obtain permanent residency?
In order to be eligible to apply for an ILR in a three years' time, you need to either create 10 new full-time jobs for U.K. resident workers or for the company to reach a turnover of £5 million during the three-year continues period.
I presume you mean tier 1 entrepreneur (as opposed to tier 1 investor) visa. In order to extend your stay, you will need to be registered as a director of the business within six months of having been granted the visa (or entry to the U.K., if you were granted entry clearance), have invested the 200,000 pounds (if you had to show this amount in your application, as opposed to the 50,000 requirement) by the extension stage, and to have created two separate full-time roles for settled workers that would have existed for at least 12 months each by the extension stage. To qualify for accelerated settlement after three years, you will need to show either job creation of 10 full-time jobs in that period of a 5-million turnover.