Tier 1 Entrepreneur Visais one of the visa categories under the point-based system, allowing an individual to reside in the United Kingdom. This visa process will enable you to set up, take over, or stay involved in operating a company or business in the country. For such a programme, one of the essential requirements of this visa category is having access to around £50,000 or £200,000 to invest in the business you are operating in the United Kingdom.
Moreover, when it comes to suitable investment funds, you need to submit an organisational plan of your entrepreneurial activity. The immigration regulations would also want you to prove if you are serious about the plan and can be a successful entrepreneur. Furthermore, one can also apply for indefinite leave to remain or ILR after having resided for five years on such a programme. Speaking of which, there is another possibility to accelerate settlements for specific entrepreneurs who want to create more than ten full-time jobs and adhere to the business income figure of £5 million.
This comprehensive guide is for applicants applying for leave to remain or the entry clearance or under this entrepreneur category
For entrepreneurs applying for the Tier 1 Entrepreneur Visa, there are several benefits. Some of the benefits are mentioned below:
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You should have access to the funds of 50,000 British Pounds from these sources:
You should have access to the funds of 2,00,000 British Pounds and need to prove the following:
Going to the UK on a Tier 1 Entrepreneur Visa programme requires an applicant to clear a point-based exam. To break these requirements further, here are some bullets you must know:
This visa can be initially issued for a minimum period of three years. After a full five years stay in the United Kingdom, one may apply for the PR, provided they meet certain eligibility conditions.
Yes, under this visa, you can bring your immediate family.Â
Yes, both of them can combine their applications. Both of the applicants must have £100,000 to invest.
When it comes to the start-up category, it is designed for budding and new entrepreneurs intending to begin a business for the first time in the UK.
Innovator visa programmes are intended to cater to experienced business persons who wish to run and create businesses in the United Kingdom. If you fall under the Tier 1 (Graduate Entrepreneur) category or even Tier 1 (Entrepreneur) programme, you can simply switch to an Innovator programme.Â
If you intend to apply for an extension, there are two fees payable:
The UK Immigration rules demonstrate that while being under such a programme, you can’t adhere to or be employed by an organisation or business other than the business you intend to set up. This simply implies that the applicant cannot take a second job while running their business.
In case you are in the United Kingdom under such a programme, your visa is valid even if the application and visa route has closed for new applicants.
To extend your visa, you should be registered as a self-employed person or company director for six months. You also have to show proof of your self-employment status and even if you are a part of a specific partnership. You will have to create a minimum of 2 full-time employment or jobs.Â
Experts like business immigration solicitors state that the process usually takes around two months for the Home Office to proceed with your extension application. Moreover. The essential part is to make sure that the extension has been submitted before your visa expires.
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