They can apply with you if they have been living with you for the required three years.
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How can my family apply for ILR together with me?
My family and I invested 5 million pounds into the tier 1 visa category. We have been living in the U.K. since October 2015. As the principal applicant, I will be eligible to apply for indefinite leave to remain (ILR) this October. Can my spouse and children apply with me? Do they have to fulfill the five-year stay requirement before they can apply for ILR?
Answers
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Your family needs to have spent five years in the U.K. at the time of application. If this is the case, they can apply for ILR at the same time as you. The application is made on form SET(O), and your family can apply on the same time as you. If any of your children are now over 18, they will need to apply on a separate form.
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The family must wait five years before they are eligible to apply for ILR. Unfortunately, there is no way around this.
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The way the law works is that partners of tier 1 Investors have to complete five years before they can qualify for indefinite leave to remain, even if the tier 1 Investor qualifies after two years or three years. And typically, the child cannot acquire indefinite leave to remain until both parents have it.
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Unfortunately, your spouse and children will be required to extend their visas for a further three years (at the same time when you will be applying for an ILR) before they will be eligible to apply for an ILR in October 2020. Children can only qualify for settlement if applying for an ILR in line with both parents, or if one parent has already been settled and another parent is being admitted for settlement at the same time.
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I am sorry to confirm that, as you came to the U.K. after July 9, 2012, you are subject to the rules which require five years' cohabitation in the U.K. before the dependant spouse is eligible for ILR. With regard to the dependent children, both parents need to either have ILR or be applying for ILR before they are eligible to apply for ILR.