The UK Tier 1 Entrepreneur Visa is for people who want to set up or take control of an existing business in the UK. This Entrepreneur Visa is a potential route to permanent settlement in the UK.
The Business Entrepreneur Visa for UK is granted for an initial period of 3 years and 4 months for people applying from outside the UK and 3 years for people applying from within the UK upon the expiration, the applicant is granted a further extension of 2 years.
Types of Entrepreneur Visas
- Your have access to £200,000 – this money can be in your own account or any third parties account.
- Access to £50,000 – from venture capital firms regulated by financial services authority, seed funding competitions listed as endorsed on UK trade and investment or funds made available by UK government department.
- Access to £50,000 if you are present in the UK on Tier 1 Post Study Worker Visa, (Switching from Tier 1 Post Study Work to Tier 1 Entrepreneur category is restricted from 11 July 2014) The £50,000 should be from venture capital firms regulated by financial services authority, seed funding competitions listed as endorsed on UK trade and investment or funds made available by UK government department. You will be allowed to switch in this category if your business was operational before 11 July 2014. The category also requires the applicant to be registered as a director of the company or self employed 3 months before they make an application. In relation to registration proof certain documents need to be provided by the applicant.
Entrepreneurs are required to meet both the English language requirement and the requirement to provide further proof of the ability to support themselves and any dependants.
Genuine Entrepreneur Test
The ‘genuine entrepreneur’ test will be conducted by the caseworker at Home Office taking into consideration the facts in deciding whether or not you are genuine applicant.
Compliance Services for Entrepreneurs
We provide advice to entrepreneurs on how to continue to comply with the Immigration Rules during the period of the visa that has been granted, three years. We believe it is important especially if you intend to extend your visa as you will need to meet certain requirements such as the creation of two jobs.
Our compliance service will include:
- We will send out reminders so that you meet deadlines such as creating jobs that must have lasted minimum of 12 months
- Provide guidance on how to invest your £50,000 or £200,000.
- Advice you on what to do if your circumstances change
- Provide you with an updates of Immigration Rules and policy that may affect your future plans
- Advice you of the conditions and restrictions on working in the UK
You can elect to use the service per year or for a three year period. During that time you may ask as many questions as you wish relating to the Tier 1 (Entrepreneur) Immigration Rules.This service is not related to the application service. That is a separate service which has a separate fee.