Real Estate Investor Magazine South Africa Dec/Jan 2016/17 | Page 64

RESIDENCY

UK Open to

South African Entrepreneurs
BY ANGELA BARTY

I

n the wake of Brexit, entrepreneurial skills,
a financial investment and a commitment to
create employment, offer an attractive route to
South Africans keen to acquire British residency and
citizenship.
An innovative programme by the British Home
Office, which encourages foreign investment in the
UK, aims to match demand for British citizenship
with solid return-generating investments in preapproved businesses in the UK.
According to Sable Group MD, Gary Kockott, the
Tier 1 Entrepreneur Investment Programme, would
be a viable option for anyone looking to sell off their
assets in their home country and immigrate to the
UK.
“This bespoke UK citizenship investment
programme requires an investment of £200 000 in a
UK business opportunity, for an applicant and their
family to receive residency and possibly citizenship if
all the requirements are met,” explained Kockott.
“We match the investor’s skills and experience with
a range of business investment opportunities while
meeting the UK’s Tier 1 entrepreneur visa-qualifying
criteria. It’s a win-win as it ensures a profitable
investment into a UK business, while meeting the
investor’s goals of UK residency,” he added.

Kockott outlined the requirements:
• The permit entitles the holder to live and work in
the UK for three years with the option to extend
for a further two years if certain criteria are met
• After six years in the UK on this visa, you could
be able to begin the process to become a British
citizen
• Invest a minimum of £200 000 in a UK business
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DEC/JAN 2017 SA Real Estate Investor

• Be an active director in that business
• Create two new jobs as a result of the business
• Demonstrate that you have an English language
ability of IELTS level 4
• Spend at least 185 days a year in the UK to qualify
for permanent residency.
To obtain the two-year extension, the following three
criteria (among others) must be met:
• The investment sum must have been injected into
the UK business (new or existing)
• You must have created the two full time jobs for
resident workers of the UK and these jobs must
have been in existence for at least 12 months.
• You must demonstrate that you have registered as
self-employed or as a director of a new or existing
business.
• You must demonstrate that you have been involved
in the day-to-day core activities of the business.
“This visa has a much lower entry cost than other
UK investment visas, which require a minimum
investment of £2 million,” said Kockott.
He added that another major benefit of the Tier 1
Entrepreneur Investment Programme, is that once an
applicant holds a Tier 1 visa, the immediate family
are permitted to accompany the holder and could also
apply for permanent residency at the end of the five
year term.
“Once you have held permanent residence for a year,
you may begin the process of naturalisation, after
which you may apply for a passport.”
www.reimag.co.za