The United Kingdom has not only opened its doors to serious entrepreneurs and business investors as a means to boost the country’s economy, but also welcomes people to come settle in the country. There is a provision by virtue of which foreign nationals entering the country for trade purposes become eligible for citizenship through investment. One can apply for permanent residency only after staying five years in the English nation, but before that you have to prepare the grounds to qualify for it. There are two main methods to do so.

1. Tier 1 Investor Category

For those of you wishing to set up a business in the United Kingdom and to obtain citizenship on the basis of investment, the first available option is the Investor category. The applicant should have access to minimum £1million investment funds and £2 million in assets. The money must be held with a regulated institution either overseas or in the United Kingdom at the time of application. At least £750,000 of the total investment funds must be invested in government bonds and share capital. It should be invested for a minimum 5 year term. The applicant is not required to have a job offer. However, he or she will be asked to specify the ability and intention to invest.

There is a points-based system in the UK to determine eligibility for the Tier 1 Investor category. You require minimum 75 points to become eligible to apply. Given the higher investment fund requirements, the applicants applying for the investment category are exempted from the English language requirements and maintenance requirements.

2. Tier 1 Entrepreneur Category

If you do not have sufficient investment funds to qualify for the investor category, but you are a looking at a UK citizenship, you can always apply for the Tier 1 Entrepreneur visa scheme. It has a lower financial threshold of £50,000 in investment funds. The applicant is expected to work full-time in the business he has set up or the business he has invested in. If the funds are insufficient, two applicants can create an entrepreneurial team and share the funds for the application.

In order to qualify for the Entrepreneur visa program, you should pass a certified English language test to prove your proficiency in the English language. You should also be able to show your ability to support yourself and your family in the United Kingdom. With the entrepreneurial visa, you can stay for 3 years and 4 months. The duration can be extended later.

The investor and entrepreneur visa schemes have been created to allow entry to non-European investors into the European Union. The application for both can be submitted by a person residing outside the United Kingdom or currently residing within the United Kingdom on a different existing visa looking to extend their stay.

Great Britain offers dual citizenship. Hence, you will not have to give up your original citizenship if you apply for a British citizenship. After you have been approved for ILR or permanent residency, you can travel in and out of UK. However, you should not spend two consecutive years out of UK.