We are a specialised UK immigration law firm.
Today I want to talk to you about the Tier 1 Entrepreneur visa.
This Visa provides an opportunity for people with business skills to gain entry to the UK for themselves and their dependent family member subject to the UK immigration rules.
An entrepreneur is someone who starts their own business or invests in a business. In the case of a Tier 1 Entrepreneur Visa, it is someone ready to invest in the UK and open a business or take over an existing business.
In order to qualify for this visa, you will need a cash investment of £200,000 for money held in a regulated financial institution. You could also qualify under £50000 route subject to relevant immigration rules. You will also need minimum funds held in your name to support yourself and your dependants, proof of fluency in English, a valid business opportunity, and clearance for standard UK immigration criteria.
The two areas that often catch applicants are the funds for support, and proof of a valid genuine business opportunity.
Number 1: funds of support- You cannot rely on public funds under this visa, and you need to show that you’ll be able to support yourself and your dependents.
As of the publication of this video and if you are applying from outside the UK then you need £3,310 for yourself and £1,890 for each dependent maintained always and at least for 90 days.
Number 2: genuine business opportunity- You must be able to show that your business idea is valid through market research, financial figures, and a professionally developed business plan. The Home Office will also look for previous business experience and personal credentials so be sure to include any documentation that will support your application – more is better!
Your business must be one that can create at least 2 full time jobs for UK settled workers that last at least 12 months.
On a separate note, you will also have to pay immigration healthcare surcharge for yourself and your dependants at the time of your application.
Once your application is approved, you will get a maximum up to 3 years 4 months Tier 1 Visa, and your dependents will get dependant visa in line with your visa.
After an initial Tier 1 entrepreneur visa You could qualify for a FURTHER 2 years extension.
Once you have lived in the UK for 5 years, you could qualify for Indefinite Leave to Remain also known As Settlement/ permanent residency.
Moving forward you could qualify for your British Citizenship.
I hope this overview of the Tier 1 Entrepreneur Visa has been helpful.
If you have any questions or require assistance regarding Tier 1 Entrepreneur Visa, please contact us, our contact details are at the bottom of this video. We’re here to help.
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