The Tier 1 Entrepreneur Visa enables businesspeople from different countries to enter the UK by showing they have sufficient funds to successfully start a business. You are required to have either £50,000 (if switching from a Post-Study Work visa) or £200,000 to establish a new business or take over an operational UK business. For the latter, you have the choice to do so exclusively or as a partner. It is essential for you to hold these funds in a regulated institution, such as a venture capital firm or bank. Moreover, they should not be tied up in shares, securities, or any other similar arrangements so that they are free for investment.
The Requirements of the Tier 1 Entrepreneur Visa
To qualify for the Tier 1 entrepreneur visa, you must:
- Show that you have £200,000 available for investment purposes
- Have the required level of proficiency in English language
- Score a total of 95 points
- Become a director of one or more businesses in the UK
- Be able to financially support yourself and your family
While these requirements may appear straightforward, there are many other factors that influence the decision of the authorities to accept your visa application. Our team of experienced immigration consultants will work closely with you throughout the process, making sure that your application seamlessly meets all the requirements.
Length of Stay
Initially, you will get the visa for three years. You can extend it for up to 6 years and 4 months, but for that, you have to meet certain criteria. You have to prove that you are still engaged in a business activity and have created jobs for UK citizens or other settled workers. However, these conditions can be flexible based on how well you present your application for extension.
Benefits of Apply for the Tier 1 Entrepreneur Visa
- Live and Work in the UK: The entrepreneur visa allows you to live and work anywhere in the UK.
- Start your own Business: The United Kingdom is known as one of the leading countries in terms of great business prospects. With the right support and adequate investment, you can easily start and grow your business.
- Education and Healthcare: Residing in the UK through the entrepreneur visa grants your family access to the educational system, as well as to the National Health Service (NHS), which offers free healthcare.
- Applies to Immediate Family Members: It enables you to bring your immediate family with you to the UK, including your spouse and children over the age of 18 years.
- Permanent Residency: Within 5 years, you can apply for permanent residency.
Talk to our Experienced Immigration Solicitors Today
The process for the Tier 1 Entrepreneur Visa can be complex, and simple errors can lead to the rejection of your application. But with the help of our immigration solicitors, you can rest assured that your application will be submitted error-free and presented to the authorities in the best possible light.
For more information, help, and advice regarding the Tier 1 Entrepreneur Visa or to discuss your needs with one of our immigration solicitors, contact Milestone Solicitors today to schedule an initial consultation.