What are Tier 1 Visas?
Tier 1 Visas are issued by the United Kingdom. Tier 1 is an immigration scheme based on the points based system for employment-based immigration. The Tier 1 visas refer to the temporary employees working in the UK who wish to live and work permanently in the country. Tier 1 is solely for highly skilled individuals, investors, entrepreneurs, and foreign graduate students.
Previously, there was a different scheme used for immigrant petitions based on employment. However, the Tier 1 system has replaced the old scheme starting early 2008. Tier 1 visas were planned such that the best talents outside the European Union would be attracted to being a UK permanent resident or citizen.
Once you apply for a Tier 1 visa, you will be approved as long as you get 75 points under the UK’s point based system. With a Tier 1 visa, you do not need to have a job offer or employer to sponsor you to go to the UK. You are free to look for any job in the United Kingdom if you have a Tier 1 visa. What is more, you can stay up to three years in the UK with this visa. After that, you may renew your Tier 1 visa to extend your stay in the country.
If you are applying for a Tier 1 visa as a highly skilled migrant, then you will need to score 75 points based on your qualification, previous earnings, age, and your UK experience. If you are applying as an entrepreneur, you need to have at least £200,000 of disposable capital. For wealthy investors planning to make a big investment in the country, at least £1,000,000 of disposable funds is needed.