This blog is specifically for entrepreneurs and investors in the UK since the deadlines to extend their existing grant of leave and submit ILR applications are approaching fast.
Deadlines For Investors
Tier 1 investors are advised to see if any of their investments in UK government bonds, also called gilts, in their investment portfolio have to be shifted to other qualifying investments before 6 April 2023. Applicants who acquired their initial Tier 1 Investor visa between 6 November 2014 and 28 March 2019 should confirm now if they can retain their gilts. As far as the ones who obtained their Tier 1 Investor Visa on 29 March 2019 and onwards are concerned, they already couldn’t be dependent on investments into gilts.
Whether it is appropriate to move your gilts now depends on your specific circumstances. You can keep holding the UK government bonds if you are sure you will not have to make any more extension applications after 6 April 2023, and you can go on to apply for indefinite leave to remain (ILR) by 6 April 2025.
Regardless, here are some key deadlines you should be aware of;
- 17 February 2026 – All extension applications should be submitted before this date.
- 17 February 2028 – All ILR applications should be submitted before this date.
Deadlines For Entrepreneurs
Tier 1 Entrepreneurs should confirm if they have to submit an extension application because they cannot apply after 6 April 2023. You should also consider going for an extension now if you think you will have problems fulfilling the requirements for indefinite leave to remain (ILR) in your existing grant of leave. For instance, if you believe you wouldn’t meet the employment creation requirement, you should extend your leave now to buy more time.
Moreover, Tier 1 Entrepreneurs should also confirm if they will be able to fulfill all the requirements to apply for ILR before 6 April 2025. However, your deadline to apply for ILR is before 6 April 2027 if you previously had a leave of grant as a Tier 1 Graduate Entrepreneur. Again, if you think you wouldn’t be able to fulfill the employment creation requirement, especially if you relied on the COVID concession for employment creation in the past, now is the best time to consider other options, such as alternative sponsorship visa routes.
Reviewing your specific circumstance right now is advisable because the deadlines are approaching fast. Therefore, seeking consultancy regarding all available options is the ultimate way of protecting your personal and business interests in the UK.
We hope you found this information helpful. Follow our blogs for the latest updates and informative content on UK immigration.