Tier 1 Entrepreneur

This visa is for investors wishing to establish their own business in the UK, or to take over or become actively involved in an existing one. Those individuals wishing to obtain a Tier 1 (Entrepreneur) visa can visit the UK as “prospective entrepreneurs” in order to secure agreements which may entitle them to remain as Tier 1 Entrepreneur migrants.

Prospective applicants must be at least 16 years old and can apply with regards to various categories dependent upon the level of their investment. Each applicant must have access to at least £50,000 in investment funds however those with access to £200,000 will be eligible for more categories of investment.

If you have access to the relevant amounts and are looking to obtain a Tier 1 (Entrepreneur) Visa, here is some more useful information you will need to know:

• All funds must be held in one or more regulated financial institutions

• All of the monies used for investment must be fully disposable for use on business in the UK
• You will have to provide sufficient evidence that you possess the skills, qualifications and experience necessary to either run or join the business in question in the UK
• You will also be required to provide a solid business plan for your proposed business in the UK
• Evidence will need to be given proving that you hold sufficient funds to support yourself and all of your dependant family members throughout the duration of your stay in the UK
• Those wishing to apply for a Tier 1 (Entrepreneur) Visa with access to £200,000 in investment funds are eligible to so long as they are able to prove the money is either:
• Their own
• Made available to you by others (third parties – this can include your partner or spouse or another investor)
• In a joint account with your partner or spouse but only on the provision that they are not applying for a Tier 1 Entrepreneur Visa
• Those wishing to apply who have already invested £200,000 in a UK business may do so however such an investment must have been made within 12 months of the application for the Entrepreneur Visa
• Prospective applicants would also be required to meet the ‘English Language Requirement’ proving you have gained a sufficient enough level of capability
• Those successful in obtaining a Tier 1 (Entrepreneur) Visa are allowed to work for their business however they must not be employed or undertake work from or on behalf of any other businesses

Successful applicants for a Tier 1 (Entrepreneur) Visa will be granted an initial maximum period of stay in the UK of 3 years and 4 months. Applications may be made to extend this by a further 2 years if already in this category and by meeting specified requirements, or by 3 years for candidates looking to switch to this category from another visa route.

Those looking to obtain settlement in the UK may be able to apply for this once they have been in the UK for 5 years. Our immigration team can help guide candidates through the various extension processes with regards to their individual requirements.

As with Tier 1 (Investor) applications, candidates cannot apply for a Tier 1 (Entrepreneur) Visa earlier than 3 months prior to their intended travel to the UK.

For further expert and professional advice and assistance in relation to Tier 1 (Entrepreneur) Visas, including with regards to fees and charges, application processing times and the necessary requirements for extending your visa, please do not hesitate to contact our immigration team who are ready and able to help you.

Please be advised that Immigration Rules are always changing. Contact us for the latest help, advice and information with regards to your query.