Worldwide: A Move of Residence

Last Updated: 2 October 2018
Article by   Dixcart

Please note that as a general principle EEA citizens are free to move to other EEA countries. Switzerland is in the Schengen Area and as such EEA citizens can move there and vice versa. Unless specified, the residence schemes are therefore applicable to non-EEA individuals for all of the countries featured. St Kitts & Nevis is not in the EEA and therefore their scheme applies to EEA and non-EEA individuals.

Services Provided by Dixcart

  • Staff resident in Cyprus, Guernsey, Isle of Man, Malta, Portugal (Lisbon and Madeira), St Kitts & Nevis, Switzerland and the UK
  • Expertise regarding each jurisdiction: lifestyle, tax regime etc.
  • Organising visits if required
  • Sourcing of property
  • Coordination of the application process
  • Undertaking/coordinating requisite legal work
  • Wealth management
  • Assistance with relocation, concierge services
  • Provision of personal and corporate professional services once relocation has taken place

PLEASE NOTE: In addition to the Financial Criteria detailed below Government Fees are payable which vary considerably depending on the particular Residence Scheme. Information is available on request.

Country and Residence Scheme Benefits Financial/Other Obligations Additional Criteria
Cyprus:

Citizenship by Investment
A Cyprus passport will be received a maximum of six months after the application.

Settlement in the EU.

Visa free travel to over 150 countries.

The Applicant's spouse/partner and children can apply without having to meet any financial criteria and their application can be submitted along with the investor's application, so that they will all be able to acquire Cypriot Citizenship simultaneously.

The applicant's parents may also apply by investing only a further €500,000 in a separate private permanent residential property.

High-ranking senior managers of companies that meet the financial criteria may also apply (subject to specific terms and conditions).

In July 2017, the Cyprus Government voted for an amendment, establishing a new "60 day rule". This new rule will apply to individuals who, in the relevant tax year:
  • reside in Cyprus for at least 60 days.
  • operate/run a business in Cyprus and are employed in Cyprus and is a director of a company which is tax resident in Cyprus. Individuals must also have a residential property which they own or rent.
  • are not tax resident in another country.
  • do not reside in any other single country for a period exceeding 183 days in aggregate.
This is in addition to the "183 day rule". If the applicant physically resides in Cyprus for more than 183 days in one calendar year, they are considered Cyprus tax resident.

If the applicant satisfies either the current "183 day rule" or the new "60 day rule" and becomes tax resident in Cyprus (but not domiciled there), the following sources of income enjoy a ZERO rate of tax (even if the income has a Cyprus source and is remitted to Cyprus):
  • Interest
  • Dividends
  • Rental income (standard tax rate is 3% on 75% of the income).
In addition:
  • There are NO wealth and/or NO inheritance taxes in Cyprus.
There is no language test.
The minimum investment is €2.5million (€500,000 of which must be in a residential property – please see Additional Criteria).

Investments can be made in the following:

Investment in the Financial Assets of Cypriot Companies or Cypriot Organisations that are licensed by CySec

The applicant must purchase financial assets of Cypriot companies or Cypriot organisations with a minimum value of €2 million.

OR

Purchase, Establishment or Participation in Cypriot Businesses or Companies

The applicant must make an investment of at least €2 million in the purchase, establishment or participation in businesses or companies that are based and operating in Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot or EU citizens.

OR

Investment in Real Estate, Land Development or Infrastructure Projects

The applicant must make an investment with a minimum value of €2 million in the purchase or construction of buildings or other land development projects.

If the investment is made ONLY in residential property and one property is worth at least €500,000 and is a permanent privately-owned residence in Cyprus, the Additional Criteria (A) does NOT need to be met.

OR

Investment in Government Bonds

The applicant can purchase Cyprus state bonds up to a maximum value of €500,000. This investment option can only form part of the Combined Criteria detailed below.

OR

A Combination of the Above Criteria

The applicant must meet a combination of the above criteria, with the total investment amounting to at least €2 million.

The applicant must visit Cyprus at least once for administrative reasons (collection of biometric data).
A. The applicant must own a permanent privately-owned residence in Cyprus, the purchase price of which must be at least €500,000 (plus VAT), which has to be maintained for life However, this property can be rented out.

B. The minimum amount of time for which the investment must be maintained is 3 years from the date of naturalisation.

C. The applicant must hold a residence permit for a period of at least 6 months in Cyprus prior to his/her naturalisation as a Cypriot citizen. For applicants that do not already have a residence permit, an application for a residence permit can be made at the same time as the application for naturalisation, without any additional criteria having to be met.

D. The applicant and family members must have a clean criminal record from their country of origin and their country of residence (if different) and/or from the Cyprus Police.

E. The applicant's name must not be included on the EU list of individuals whose property has been frozen (sanctions list).
Cyprus: Permanent Residence Permit The applicant's passport is stamped and a certificate provided that indicates that Cyprus is a permanent place of residence for that individual.

Simplified process for acquisition of a Schengen Visa for holders of a permanent residence permit.

Ability to organise business activities in the EU, from Cyprus.

The procedure generally takes two months from the date of the application.

If the applicant becomes tax resident in Cyprus (i.e. they satisfy either the "183 day rule" or the "60 day rule" in any one calendar year) he/she will be taxed on Cyprus income and income from foreign sources. However, foreign tax paid can be credited against the personal income tax liability in Cyprus.

In addition:
  • There are NO wealth and/or NO inheritance taxes in Cyprus.
There is no language test.
A letter from a financial institution in Cyprus must be obtained to confirm that a fixed deposit of €30,000 has been transferred to Cyprus from abroad and is pledged to be retained in Cyprus for at least three years. There are no restrictions on how this money is used once this three year period has elapsed.

The applicant, and his/her spouse, must prove that they have at their disposal a secure annual income of at least €30,000. This annual income needs to increase by €5,000 for every additional dependant. The income can be from pensions, overseas employment, interest on fixed deposits or rental income from abroad.

The applicant must purchase one or two new real estate properties in Cyprus (re-sale property is not acceptable) with a total purchase cost of at least €300,000 (excluding VAT). At least €200,000 must be paid as the Sale Contract is signed and prior to the application for the Permanent Residence Permit. The properties can be one house, or one house and one office, or one house and one retail outlet.
The applicant and his spouse must submit evidence that they have a clean criminal record from their country of residence.

The applicant and his spouse must confirm that they do not intend to be employed in Cyprus.

The applicant and the family members included in the Permanent Residence Permit must visit Cyprus within one year of the permit being granted and from then on at least once every two years (one day is regarded as a visit).

Capital gains tax is imposed at the rate of 20% on gains from the disposal of immovable property situated in Cyprus, including gains from the disposal of shares in companies which own immovable property, excluding shares listed on a recognised Stock Exchange. Capital gains tax is imposed even if the owner of the property is not a Cyprus tax resident.
Bailiwick of Guernsey:

Guernsey
'Resident only' individuals are taxed on their worldwide income or they can elect to be taxed on their Guernsey source income only and pay a standard annual charge of £30,000 in 2016.

Individuals have a tax-free allowance of £9,675. Income tax is levied on income in excess of this amount at a rate of 20%, with generous allowances.

Individuals can pay 20% tax on Guernsey source income and cap the liability on non-Guernsey source income at a maximum of £110,000 OR cap the liability on worldwide income at a maximum £220,000.
The following individuals do not generally need permission from the Guernsey Border Agency to move to the Bailiwick of Guernsey:
  • British citizens.
  • Other nationals of Member States of the European Economic Area and Switzerland.
  • Other nationals who have permanent settlement (such as indefinite leave to enter or remain in the Bailiwick of Guernsey, United Kingdom, Bailiwick of Jersey or the Isle of Man) within the terms of the Immigration Act 1971.
An individual who does not have an automatic right to live in Guernsey must fall within one of the categories below:
  • Spouse/partner of a British citizen, EEA national or settled person.
  • Investor. A person seeking to enter and then remain in the Bailiwick of Guernsey must invest a minimum of £750,000 in Guernsey or the UK, and must provide evidence that they have £1 million of their own money under their control in Guernsey.
  • Person intending to set themselves up in business. Individuals will be required to provide a business plan as the minimum entry level to show there is a genuine need for the investment and services in Guernsey and provide evidence of £200,000 of their own money under their control.
  • Writer, artist or composer. Individuals must have professionally established themselves outside of Guernsey and do not intend to work except as a writer, artist or composer.
Any other individual wishing to move to the Bailiwick of Guernsey must obtain an entry clearance (visa) prior to his/her arrival. The entry clearance must be applied for through the British Consular representative in the individual's country of residence. The initial process generally starts with an online application via the British Home Office website.
An individual resident in Guernsey for 182 days or more is considered principally resident and taxable on their worldwide income
  • An individual resident in Guernsey for 91 days or more will be considered resident only and is taxable on Guernsey
  • source income only, except on interest arising on bank deposits in Guernsey, and on income remitted to Guernsey.
  • An individual resident in Guernsey for 91 days or more per year and not resident in any other place in a year of charge for more than 91 days is considered solely resident in Guernsey and taxable on worldwide income.
  • An individual in Guernsey for less than 91 days will not be considered resident in Guernsey.
  • Changes to the Guernsey tax law allow a resident only individual to elect to pay a flat rate tax charge of £27,500.
  • Where an individual has previously been resident in Guernsey prior to taking up a current period of residence, advice should be taken on their tax residence status.
Bailiwick of Guernsey:

Sark
Simple and very low tax system based on:

1. Property tax on local property – based on size

2. Personal tax per resident adult (or having property available) for over 91 days:
  • Based on personal assets or dwelling size
  • Capped at £6,400 (2015)
There is a property transfer tax on property sales/leases.
Please see Financial/Other Obligations above relating to Guernsey. There are no specific residence requirements. Tax is payable if an individual resides in Sark or has a property there which is available to him/her for over 91 days per annum.
Isle of Man:

Tier 1 Investor Visa and

Tier 1 Entrepreneur Visa
Please see UK section below in terms of Benefits. In addition:

A successful applicant and his/her family are entitled to receive British Citizenship, if all of the relevant conditions are met. Subsequently an application can be made for a British passport.

The standard rate of personal income tax in the Isle of Man is 10%, with a higher rate of 20%. Annual personal income tax can be capped at £125,000 for a period of five years for Isle of Man tax residents. This annual tax cap of £125,000 is doubled for a married couple where they choose to be jointly assessed.

There is no restriction on purchasing property in the Isle of Man and there is a single housing market.
Please see UK section below in terms of the Financial Criteria that need to be met. Please see UK section below in terms of the Additional Criteria that need to be met.
Malta:

The Individual Investor Programme
Successful applicants receive Maltese citizenship.

Settlement in the EU.

Visa free travel to over 160 countries.
An applicant has to make a minimum contribution of €650,000 to the Maltese Government.

An additional contribution of €25,000 is required for a spouse and for each child under the age of 18. A contribution of €50,000 is required for each unmarried child between the ages of 18 and 25 years, and for each dependant parent over the age of 55.

AND

A property must be purchased in Malta with a minimum value of €350,000 or a property rented for a minimum annual rental of €16,000. This must be maintained for a minimum of 5 years.

AND

A minimum investment of €150,000 in eligible Government stocks, shares or debentures for a minimum of 5 years.
The programme is not open to individuals falling into the following categories:
  • Has a criminal record
  • Is subject to a criminal investigation
  • Is a potential national security risk to Malta
  • Is involved in any activity likely to detract from Malta's reputation
  • Has been denied a visa to a country with which Malta has visa-free travel arrangements and has subsequently not obtained a visa to the country that issued the denial.
Dependants of the applicant (spouse, children or parents) must be certified as not suffering from any contagious disease and must be in good health.

An Authorised Registered Mandatory in Malta must submit an application to the Commissioner of the Inland Revenue on behalf of the applicant. Dixcart Management Malta is an Authorised Registered Mandatory.
Malta:

The Residence and Visa Permit Programme
Successful applicants receive a Maltese residence permit. After five years of residency, the main applicant and dependents are eligible to apply for long term residence in Malta.

Free movement within the Schengen Zone (26 European countries).

Individuals will be taxed on Malta source income and certain gains arising in Malta. They will not be taxed on non-Malta source income not remitted to Malta. In addition they will not be taxed on capital gains even if this income is remitted to Malta.

The following benefits were introduced in July 2017:
  • The age limit of 27 for unmarried, economically dependent children has been waived.
  • Children of the main applicant and/or spouse, will not lose their residency rights when they reach the age of 27. This applies even if they have become economically independent or are married.
An individual must make a three-tier investment:
  • A €30,000 payment to the Maltese Government AND
  • An investment of a minimum €250,000 in eligible Maltese Government stocks, shares or debentures, which must be maintained for a minimum of 5 years AND
  • Purchase of a property in Malta for a minimum value of €320,000 (€270,000 if the property is situated in Gozo or the south of Malta), OR rental of a property for a minimum of €12,000 per annum in Malta (€10,000 per annum if the property is situated in Gozo or the south of Malta). The property must be owned or rented for a minimum of 5 years.
Parents and/or grandparents of the main applicant or the main applicant's spouse can apply to the programme, at the application stage. An additional €5,000 payment per person is required.

Children born or adopted by the main applicant after the initial application approval date can be included.
Please see Additional Criteria above, relating to the Malta Individual Investor Programme. In addition an applicant must:
  • Not currently be a long-term resident of Malta.
  • Not currently be taking advantage of any other Maltese Residence Programme.
  • Have a minimum annual income of €100,000 (arising from outside Malta) or own assets to a minimum value of €500,000.
Malta:

'Key Employee Initiative'
Successful applicants receive a fast track work/residence permit within five working days from the date of application, valid for one year. This can be renewed for a maximum period of three years. Applicants must provide proof and the following information to the 'Expatriates Unit':
  • Annual gross salary of at least €30,000 per annum.
  • Certified copies of relevant qualifications, warrants or proof of appropriate work experience.
  • Declaration by the employer stating that the applicant has the necessary credentials to perform the required duties.
The scheme is applicable to managerial and/or highly-technical professionals with relevant qualifications or adequate experience relating to a specific job.
Malta:

The Global Residence Programme
Successful applicants receive a Maltese residence permit.

Free movement within the Schengen Zone (26 European countries).

A flat rate of 15% tax is charged on foreign income remitted to Malta, with a minimum amount of tax payable of €15,000 per annum (income arising in Malta is taxed at a flat rate of 35%). This applies to income from the applicant, his/her spouse and any dependants jointly.

Foreign source income not remitted to Malta is not taxed in Malta.

Individuals may also be able to claim double taxation relief under the regime.
An individual must pay annual minimum tax in Malta of €15,000.
  • An individual must purchase property costing a minimum of €275,000 in Malta or €220,000 in Gozo or the south of Malta respectively, OR
  • Pay a minimum rent of €9,600 per annum in Malta or a minimum €8,750 per annum in rent if the property is in Gozo or the South of Malta.
Available to non-EEA nationals and non-Swiss nationals.

Please see Additional Criteria above, relating to the Malta Individual Investor Programme. In addition:

An applicant must not spend more than 183 days in any other jurisdiction in any single calendar year.
Malta:

The Highly Qualified Persons Scheme
Income tax is set at a flat rate of 15% for qualifying individuals (instead of paying income tax on an ascending scale with a current maximum top rate of 35%).

No tax is payable on income earned over €5,000,000 relating to an employment contract for any one individual.
The scheme is targeted towards professional individuals earning over €81,457 per annum and employed in Malta on a contractual basis. The applicant can be a national of any country.

Please see Additional Criteria above relating to the Malta Individual Investor Programme. In addition:

The scheme is available to EU individuals for 5 years and to non-EU nationals for 4 years.
Malta:

The Retirement Programme
An attractive flat rate of 15% tax is charged on a pension remitted to Malta. The minimum amount of tax payable is €7,500 per annum for the beneficiary and €500 per annum for every dependant. Income that arises in Malta is taxed at a flat rate of 35%. An individual must own or rent a property in Malta as his/her principal place of residence worldwide. The minimum value of the property must be:
  • Purchase of property in Malta €275,000, OR
  • Purchase of property in Gozo or the South of Malta €250,000, OR
  • Lease of property in Malta €9,600 annually, OR
  • Lease of property in Gozo or the South of Malta €8,750 annually.
Please see Additional Criteria above relating to the Malta Individual Investor Programme. In addition:

At least 75% of the individual's income must derive from a pension, with a maximum 25% being "other income".

This programme is designed to attract nationals of the EU, EEA and Switzerland who are not in employment and are in receipt of a pension.

An applicant must reside in Malta for a minimum of 90 days in each calendar year, averaged over any 5-year period. In addition he/she must not reside in any other jurisdiction for more than 183 days in any calendar year.
Portugal:

Golden Visa
Gives an immediate right to reside in Portugal.

Residence in Portugal.

Individuals who have been resident in Portugal for 5 years can apply for permanent residence. This is usually granted, if they can demonstrate that they have held a residence visa for the last 5 years.

At the end of the 5th year of being classified as resident in Portugal an individual can apply for Portuguese nationality and therefore a Portuguese passport.

Settlement in the EU.

Visa-free travel to approximately 170 countries, including free movement within the Schengen Zone (26 European countries).
In order to qualify for a Golden Visa an individual must meet and maintain, for at least 5 years, one of the following investment options:
  • Investment of at least €1 million in Portugal (deposit in a bank account, or shares or quotas in a company).
OR
  • A minimum €250,000 investment in an artistic production or in support of the arts.
OR
  • A minimum €350,000 investment in scientific research activities.
OR
  • A minimum €350,000 investment in the units of investment funds or venture capital funds which provide capital to companies. The investment must be made for a minimum of 5 years and 60% of the investment must be placed in commercial companies where the head office is located in Portugal.
OR
  • Acquisition of real estate with a value of at least €500,000.
OR
  • The creation of at least 10 jobs (temporary work contracts are eligible and the worker does not have to live in Portugal as long as social security is paid there).
OR
  • €350,000 investment in the incorporation of a new Portuguese company, creating a minimum of 5 permanent jobs.
OR
  • €350,000 additional share capital investment in an existing Portuguese company, creating a minimum of 5 permanent jobs.
OR
  • €200,000 investment in a Portuguese company, with an Economic Recovery Plan in place.
OR
  • €350,000 investment in funds to provide additional capital to a Portuguese company, with an Economic Recovery Plan in place.
Minimum Stay Requirements in Portugal:
  • 7 days in the first year.
  • 14 days in the subsequent periods of two years (i.e. years 2-3 and 4-5).
In order to obtain Portuguese nationality an individual must provide the following:
  • A copy of an existing Portuguese Residency Card.
  • A declaration issued by the Portuguese authorities stating that an individual has been resident in Portugal for the past 6 years.
  • A Portuguese Criminal Record Check.
  • A Criminal Record Check from the individual's country of origin, duly translated and certified by the Portuguese Consulate and Apostilled.
  • Proof that the individual has taken the official Portuguese language test for foreigners.
Portugal:

The Non Habitual Residents Regime
Tax exemption on foreign-source income when certain conditions are met. This includes income from pensions, dividends, work and provision of services, and royalties and interest, for ten consecutive years.

Income derived from employment or independent personal services in Portugal is taxed at a special flat rate of 20% for ten consecutive years, as above.

28% flat rate of withholding tax on interest, dividends and/or capital gains relating to Portuguese source income.

No capital gains on the sale of a permanent residence in Portugal as long as the gains are re-invested in another permanent residence in Portugal or another EU or EEA country.
Portuguese employment income must be derived from high value-added activities of a scientific, artistic or technical nature. This regime is available to EU and non-EU individuals who become resident for tax purposes in Portugal, provided they have not been resident in Portugal for the previous five years.

Individuals can enjoy non-habitual status for a ten year period, after which they will be taxed under the standard personal income tax rules in Portugal.
St Kitts & Nevis:

Citizenship by Investment
Individuals and families can obtain a second passport and residence, if required, through the St Kitts & Nevis Citizenship by Investment Programme.

St Kitts & Nevis passport holders enjoy full Schengen privileges (free movement to 26 European countries), can travel to approximately 120 countries worldwide (either on a visa free basis or visa on entry basis) and do not require a visa to visit the United Kingdom.

A number of attractive tax advantages are available to individuals who choose to become resident in St Kitts & Nevis:
  • No income tax
  • No capital gains tax
  • No wealth or inheritance tax
  • No gift tax
  • No death duties
  • No estate tax
  • No taxes levied on assets or income originating from outside St Kitts & Nevis
The age of a dependant parent has been reduced from 65 to 55. The upper age limit for young adult dependant children, has been extended from 25 to 30.

It is now possible for an application to be fast tracked via the accelerated application process (AAP). Applications, submitted with the correct documentation, will be approved within 60 days and may be approved within as little as 45 days.

Citizenship can be passed on to future generations by descent.
There are three options for applicants:

Real Estate

Applicants can make an investment in real estate via two routes:

1. Five-year hold period

Investment of a minimum US$400,000 per main applicant in a property in an approved property development area in St Kitts & Nevis. The investment must be maintained for a minimum of five years.

OR

2. Seven-year hold period

Investment of a minimum US$200,000 in new luxury developments in St Kitts & Nevis. The investment must be maintained for a minimum of seven years.

OR

Sustainable Growth Fund (SGF)

A single applicant can make a contribution of US$150,000 to the Sustainable Growth Fund (SGF). The contribution for a family of up to four will be US$195,000.
It is not necessary for the applicant to have visited St Kitts & Nevis but the application must be made by a Registered Agent resident in St Kitts & Nevis, such as Dixcart.

Common law partners are accepted for sponsorship.

Standard due diligence items are required including:
  • medical certificate
  • police certificate
  • bank and personal references
  • employment history
  • education history
  • source of wealth
Switzerland:

Lump Sum Tax Regime
The Swiss Lump Sum System of Taxation is based on an assumed income, generally approximately seven times the annual rental value of the property occupied in Switzerland.

Liability to inheritance tax varies from canton to canton. A few cantons do not apply inheritance tax. The majority do not levy it between spouses or between parents and children, and levy only a modest tax of below 10% for other descendants.

Individuals taxed under the Lump Sum Regime are able to manage their worldwide investments from Switzerland.
Swiss tax is paid on an assumed income, generally approximately seven times the annual rental value of the property occupied in Switzerland. The precise taxation liability will depend upon the canton and the area of residence within the canton.

The Swiss Government confirmed its commitment to maintaining the Lump Sum System of Taxation in November 2014.
This regime applies to foreigners who move to Switzerland for the first time, or after an absence of ten years, and who will not be employed or commercially active in Switzerland.

Please note there are 26 Swiss cantons.

Only the three Swiss cantons of Appenzell, Schaffhausen and Zurich abolished the Lump Sum System of Taxation in 2013.
UK:

Investment Visa
Settlement in the UK.

Visa-free travel to over 170 countries once British passport obtained.

Individuals resident but not domiciled in the UK are eligible to pay tax on a remittance basis.

There is no tax on the gains and income that arise from funds retained outside the UK, as long as the income and gains are not brought into or remitted to the UK.

In addition, clean capital (i.e. income and gains earned outside of the UK before the individual became resident, that have not been added to since the individual became resident in the UK) can be remitted to the UK with no further UK tax consequences.

If unremitted foreign income is less than £2,000 at the end of the tax year (6 April to the following 5 April), the remittance basis applies automatically.

If unremitted foreign income is over £2,000 then the remittance basis can still be claimed, but at a cost (depending on circumstances costs are £30,000 or £60,000 or £90,000 from 6 April 2015).

Anyone who has been resident in the UK in more than 15 of the previous 20 tax years, will not be able to enjoy the remittance basis and so will be taxed in the UK on a worldwide basis for income and capital gains tax purposes.
This is formally known as the Tier 1 (Investor) visa. Under this visa category, an individual from outside the EEA can apply for Entry Clearance (EC) for an initial UK residence visa which will be valid for up to 3 years and 4 months by bringing £2 million to the UK and investing these funds in permissible investments.

As long as the provisions continue to be satisfied, after an initial 3 year period the individual can apply for Leave to Remain (LTR) (an extension) for a 2 year visa and, following this, can then apply for Indefinite Leave to Remain (ILR) in the UK. The rules allow for accelerated ILR after 3 years if an individual has invested £5 million and after 2 years if £10 million has been invested.
In terms of the Indefinite Leave to Remain (ILR), the main applicant must not be absent from the UK for more than 180 days in any single year.

An individual will usually be eligible for citizenship once they have been resident in the UK for 5 years, and have had ILR for at least one year. In a standard situation, it will usually take 6 years before an individual is eligible to become a British citizen. To meet the citizenship requirements an applicant must not be absent from the UK for more than 450 days in the 5 year qualifying period, and for not more than 90 days in the final 12 months of that 5 year period.

If an individual is married to or in a civil partnership with a British citizen, then they will usually be eligible to apply for citizenship once they have been resident in the UK for 3 years, and have ILR. In a standard situation, it will usually take 5 years before an individual is eligible to become a British citizen. To meet the citizenship requirements an applicant must not be absent from the UK for more than 270 days in the 3 year qualifying period, and for not more than 90 days in the final 12 months of that 3 year period.
UK:

Entrepreneur Visa
Please see Benefits above relating to the UK Investment Visa. This is formally known as the Tier 1 (Entrepreneur) visa. Under this visa category, an individual from outside the EEA can qualify for a UK Entrepreneur Visa if they invest a minimum of £200,000 in a new, or existing, business in the UK and create new employment. In certain circumstances the initial investment can be reduced to a minimum of £50,000. The visa allows an individual to enter and reside in the UK for up to 3 years and 4 months.

After 3 years, an individual can apply for LTR in the UK for an additional 2 years, as long as the individual remains engaged in the specific business activity detailed by the visa and the business has created at least two full time jobs for settled workers in the UK.

After 5 years the individual can apply for Indefinite Leave to Remain (ILR) in the UK. Similar to the UK Investor visa, the UK Entrepreneur visa allows for accelerated ILR after 3 years if the business has created 10 full time jobs for settled workers in the UK, or has an income from business activity of £5 million.
Please see Additional Criteria above relating to the UK Investment Visa.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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Mondaq has a "free to view" business model. Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. Once personal data is transferred to our Contributors they become a data controller of this personal data. They use it to measure the response that their articles are receiving, as a form of market research. They may also use it to provide Mondaq users with information about their products and services.

Details of each Contributor to which your personal data will be transferred is clearly stated within the Content that you access. For full details of how this Contributor will use your personal data, you should review the Contributor’s own Privacy Notice.

Please indicate your preference below:

Yes, I am happy to support Mondaq in maintaining its free to view business model by agreeing to allow Mondaq to share my personal data with Contributors whose Content I access
No, I do not want Mondaq to share my personal data with Contributors

Also please let us know whether you are happy to receive communications promoting products and services offered by Mondaq:

Yes, I am happy to received promotional communications from Mondaq
No, please do not send me promotional communications from Mondaq
Terms & Conditions

Mondaq.com (the Website) is owned and managed by Mondaq Ltd (Mondaq). Mondaq grants you a non-exclusive, revocable licence to access the Website and associated services, such as the Mondaq News Alerts (Services), subject to and in consideration of your compliance with the following terms and conditions of use (Terms). Your use of the Website and/or Services constitutes your agreement to the Terms. Mondaq may terminate your use of the Website and Services if you are in breach of these Terms or if Mondaq decides to terminate the licence granted hereunder for any reason whatsoever.

Use of www.mondaq.com

To Use Mondaq.com you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.

You may use the Website as an unregistered user, however, you are required to register as a user if you wish to read the full text of the Content or to receive the Services.

You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these Terms or with the prior written consent of Mondaq. You may not use electronic or other means to extract details or information from the Content. Nor shall you extract information about users or Contributors in order to offer them any services or products.

In your use of the Website and/or Services you shall: comply with all applicable laws, regulations, directives and legislations which apply to your Use of the Website and/or Services in whatever country you are physically located including without limitation any and all consumer law, export control laws and regulations; provide to us true, correct and accurate information and promptly inform us in the event that any information that you have provided to us changes or becomes inaccurate; notify Mondaq immediately of any circumstances where you have reason to believe that any Intellectual Property Rights or any other rights of any third party may have been infringed; co-operate with reasonable security or other checks or requests for information made by Mondaq from time to time; and at all times be fully liable for the breach of any of these Terms by a third party using your login details to access the Website and/or Services

however, you shall not: do anything likely to impair, interfere with or damage or cause harm or distress to any persons, or the network; do anything that will infringe any Intellectual Property Rights or other rights of Mondaq or any third party; or use the Website, Services and/or Content otherwise than in accordance with these Terms; use any trade marks or service marks of Mondaq or the Contributors, or do anything which may be seen to take unfair advantage of the reputation and goodwill of Mondaq or the Contributors, or the Website, Services and/or Content.

Mondaq reserves the right, in its sole discretion, to take any action that it deems necessary and appropriate in the event it considers that there is a breach or threatened breach of the Terms.

Mondaq’s Rights and Obligations

Unless otherwise expressly set out to the contrary, nothing in these Terms shall serve to transfer from Mondaq to you, any Intellectual Property Rights owned by and/or licensed to Mondaq and all rights, title and interest in and to such Intellectual Property Rights will remain exclusively with Mondaq and/or its licensors.

Mondaq shall use its reasonable endeavours to make the Website and Services available to you at all times, but we cannot guarantee an uninterrupted and fault free service.

Mondaq reserves the right to make changes to the services and/or the Website or part thereof, from time to time, and we may add, remove, modify and/or vary any elements of features and functionalities of the Website or the services.

Mondaq also reserves the right from time to time to monitor your Use of the Website and/or services.

Disclaimer

The Content is general information only. It is not intended to constitute legal advice or seek to be the complete and comprehensive statement of the law, nor is it intended to address your specific requirements or provide advice on which reliance should be placed. Mondaq and/or its Contributors and other suppliers make no representations about the suitability of the information contained in the Content for any purpose. All Content provided "as is" without warranty of any kind. Mondaq and/or its Contributors and other suppliers hereby exclude and disclaim all representations, warranties or guarantees with regard to the Content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. In no event shall Mondaq and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use of the Content or performance of Mondaq’s Services.

General

Mondaq may alter or amend these Terms by amending them on the Website. By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

These Terms shall be governed by and construed in accordance with the laws of England and Wales and you irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute which may arise out of or in connection with these Terms. If you live outside the United Kingdom, English law shall apply only to the extent that English law shall not deprive you of any legal protection accorded in accordance with the law of the place where you are habitually resident ("Local Law"). In the event English law deprives you of any legal protection which is accorded to you under Local Law, then these terms shall be governed by Local Law and any dispute or claim arising out of or in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts where you are habitually resident.

You may print and keep a copy of these Terms, which form the entire agreement between you and Mondaq and supersede any other communications or advertising in respect of the Service and/or the Website.

No delay in exercising or non-exercise by you and/or Mondaq of any of its rights under or in connection with these Terms shall operate as a waiver or release of each of your or Mondaq’s right. Rather, any such waiver or release must be specifically granted in writing signed by the party granting it.

If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect.

Mondaq shall not incur any liability to you on account of any loss or damage resulting from any delay or failure to perform all or any part of these Terms if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control of Mondaq. Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions.

By clicking Register you state you have read and agree to our Terms and Conditions