The UK, like any other country in the world, has various requirements and limitations in respect to non-citizen’s living and working arrangements. As we are part of the European Union (for the time being anyway) workers from within this economic area benefit from the operation of what is an internal/single market which allows free movement of goods, capital, services and people between member states.
For workers outside of the area obtaining a visa is subject to meeting certain criteria and one method that is prevalent is called a Tier 1 (Investor) visa. A person can apply for a Tier 1 (Investor) visa if they have invested £2,000,000 or more in the UK in the form of Government Bonds, company shares or property. As the latter can make up part of the £2,000,000, either as part of a new application or to receive an extension of an existing one, a valuation of the property or asset(s) held by the individual will often be required. Such a valuation would have to be undertaken by an RICS Chartered Surveyor and be governed by the guidance of the body’s Red Book which ultimately means that the valuation figure report should be that of the surveyor’s impartial opinion.
Peter Barry Surveyors have undertaken a number of valuations of this type so should you or your client need such services please contact us by email or telephone 020 7183 2578.