If you need realistic and
useful advice regarding
Tier 1 (Entrepreneur) visa
then you have come to the right place. We specialise in business
immigration, especially in
Tier 1 (Entrepreneur) visa
category.
The Tier 1 (Entrepreneur)
visa category applies to the main applicant and all immediate family
members, including spouse and children under the age of 18. Initially, an
entrepreneur visa is granted for three years and four months and can then be
extended for another two years. Applicants in the first category are
eligible to apply for
British citizenship
after having spent 6 years in the country, while those who create ten jobs
or achieve an annual turnover of £5 million a year are eligible to apply
after 5 years of residence in the UK.
To make a successful
entrepreneur visa application, applicants are required to score sufficient
points based on the funds that are available to them to invest, their
English Language ability and by having enough money for their living costs
in the UK (maintenance).
Applicants need to have access to
either:
At least
£200,000
AND
- All of the above funds need to have been held in one or more
regulated financial institutions.
- All of the above funds need to be free to spend in the United
Kingdom (disposable).
OR
At least
£50,000
from:
- 1 or more registered venture capital firms regulated by the
Financial Services authority; or
- 1 or more UK entrepreneurial seed funding competitions listed as
endorsed on the UK Trade and Investment website, or
- 1 or more UK government departments, which have made the funds
available for the specific purpose of establishing or expanding a UK
business.
English Language Requirements
Level B1 of the CEFR.
Maintenance (living costs)
Applicants are also required to meet the maintenance requirement. This means
that in addition to the funds required for investment they need to show
personal funds to satisfy the UKBA that they will be able to pay for their
own living costs.
Switching
(someone already in the UK under a different immigration category applying
to extend their stay under a different immigration category)
It
is possible for those who are in the United Kingdom as Tier 1 Post Study
Workers to switch into the Tier 1 Entrepreneur category, and for those who
are here under Tier 4 as students as a Graduate Entrepreneur.
How long?
Leave is initially granted for three years.
Can I extend it?
Yes, if you can prove that you have invested the funds. You also need to
prove that you:
- Have created new jobs for British citizens or
settled workers –these rules can be flexible, arrange a consultation to find
out more.
- Are engaged in business activity.
Does it lead to settlement?
Yes. It is also possible to fast-track the time spent in the UK to obtain
settlement if you create ten jobs or achieve an annual turnover of £5
million a year.
You may also be interested in a Tier 1 Investor
Visa if you're looking to invest in a UK based company.
Want to know more? Get in touch! Please speak to one of our advisors