Tier 1 (Entrepreneur) Visa
The Tier 1 Entrepreneur visa enables applicants to apply to come to, or remain in, the UK on the basis that they intend to start a business or buy or join an already-existing business, invest funds into it and run the business. Any kind of business is acceptable as long as it is realistic and credible.
The amount of fund varies depending on the circumstances of the application, and a team of two people can combine their financial resources together and make a joint application.
The applicant(s) must fully invest the required level of funds and create at least two full-time jobs in the business. Tier 1 Entrepreneurs can potentially acquire indefinite leave to remain in five years or, if the business is exceptionally successful, in three years.
There is also an English language requirement for Tier 1 Entrepreneur applicants. On 6 April 2015, a new requirement for a business plan was also added.
Applying to Tier 1 (Entrepreneur) Visa
It is possible to apply for Tier 1 Entrepreneur Visa on the basis of £50,000 or £200,000 in available funds. One can only use £50,000 route if investment funds come from either Venture Capitalist Firm, Seed Funding Competition or UK Government Department.
It is also allowed to use £50,000 when switching from Tier 1 (Graduate Entrepreneur) route. These investment funds cannot include your own money or any money from 3rd parties.
The majority of Entrepreneur Visa applications are done using £200,000 investment funds. The application can be done either from inside the UK (switching) or from outside (Entry Clearance). The application can also be done as an “Entrepreneurial Team”, where two people apply together and each invests £100,000. It is also possible to bring dependants (i.e. spouse, children under 18) with you to the UK.
Tier 1 Entrepreneur Visa rules were further tightened on 6 April 2015. Our lawyers in Edmans & Co have submitted numerous successful application both inside and outside the UK.
Our clientele includes wealthy individuals from across the globe. If you wish to speak to us about your case, get in touch with us now using this contact form, or book a consultation with one of our immigration lawyers.