Tier 1 Entrepreneur Visa
To qualify for a Tier 1 Entrepreneur Visa there are certain requirements. If you want to apply, you must:
- Have access to at least £50,000 in investment funds from a governmental body to invest in a business (subject to strict conditions) or have at least £200,000 which you intend to invest in a new or existing business in the UK (evidence of this is required)
- Meet the English language requirement
- Be able to support yourself and any dependents in the UK
- Be at least 16 years old
Your funds must be held in one or more regulated financial institutions and free to spend on business in the UK – and you must have a business plan.
The business plan is required to accommodate the “Genuine Entrepreneur Test” of the Tier 1 Entrepreneur visa. If the visa officers have any questions about the prospect and viability of your business, they may ask you to prove that your £200,000 funds are still freely accessible, or through a face-to-face interview to determine whether you are truly interested in investing or engaging in businesses in the UK. They can also ask you to provide them with more information about your business. Therefore, a business plan at the very least should include your business purpose, your business experience, your past education and your related activities in the UK and so on.
The Tier 1 Entrepreneur visa allows you to take over the running of one business or more; work for your business, including being self-employed, and bring family members with you. If you apply for the Entrepreneur visa you cannot do any work outside your business or receive any public funds.
The earliest time you can apply for the Entrepreneur visa is 3 months before you travel and it should be issued in around 3 weeks. There is also a fee and the amount depends on your situation and whether you have any dependents. Our immigration solicitors can provide this information for you before you apply.
You can come to the UK with the Entrepreneur visa for 3 years and 4 months and you can apply to extend this for another two years. You may also be able to apply for settlement or permanent residence once you have lived in the UK for 3 years in certain circumstances. Otherwise you can apply in 4 or 5 years.
You can switch to an Entrepreneur visa if, for example, you are currently studying in the UK on a Tier 4 Student visa. If you meet the above requirements, before your current visa expires, you can apply for an Entrepreneur visa and stay for another 3 years. You should then be able to apply for settlement or permanent residence.
Our specialist immigration lawyers will be able to advise and guide you through the complex evidence that is required for the Entrepreneur visa. We will be with you every step of the way.
If you need guidance on immigration law, contact our experienced immigration solicitors today on: 020 7427 5970 or firstname.lastname@example.org.