Tier 1 Entrepreneur Visa
As part of Tier 1 Entrepreneur visa requirements, an applicant must take over or be actively involved in the running of one or more UK businesses. In order for your application to be successful you must meet certain criteria.
We can also handle the administrative review process, if needed. Longer term, our goal is to provide you with the full range of commercial law support and connect you with our exceptional network of business contacts to help you get established faster. You get a business partner rather than simply a form-filler.
Criteria for Success
For an application to be successful, an applicant must score a total of 95 points and meet all the other requirements of the Immigration Rules.
Access to at least £200,000 – 25 points
You will score 25 points if you have access to at least £200,000.
Alternatively, you will score 25 points if you have access to at least £50,000 from:
- One or more Venture Capital firms regulated by the Financial Services Authority (FSA);
- UK Entrepreneurial Seed Funding competitions listed as endorsed on the UK Trade & Investment (UKTI) website; and/or
- One or more UK government departments, which have made the funds available for the specific purpose of establishing or expanding a UK business.
All of the £50,000 must come from these acceptable organisations – you cannot include your own funds or funds from other third parties. If you want to include these funds, you must have a total of £200,000 to invest in UK business.
In all cases, the funds must be:
- held in one or more regulated financial institutions- 25 points; and
- be disposable (free to spend) in the United Kingdom- 25 points.
You and one other person can form an ‘entrepreneurial team’, which means that you can both apply under Tier 1 (Entrepreneur) and score points for access to the same investment funds.
Both of you must have equal access to and be able to dispose of the money freely in the UK. If either of you has successfully applied under Tier 1 (Entrepreneur) with any other applicant in the past, based on the same funds that you are using in this application, you cannot form a new entrepreneurial team with those same funds.
These funds can be your own money or money made available by other people (known as ‘third parties’). A husband, wife or partner is a third party. In the case of an entrepreneurial team, one applicant can act as third party contributor of funds for the other.
If you basing your application on funds from third parties, each of you must make a declaration that the funds are available to you or to the business that you are running.
A legal representative must confirm that the declaration is valid. If you have formed an entrepreneurial team and you are relying on funds from third parties, each third party must confirm that the funds are available to both of you and the other member of the team.
English language- 10 points
You must be able to speak English to the required standard or a national of an eligible English speaking country.
Maintenance- 10 points
You must have enough money to support yourselves while you are in the UK. You must show that you have £3,310 in personal savings if you are applying from outside the UK (£900 if you are already in the UK and are allowed to switch status).
These savings must have been in your bank account for 90 consecutive days before the date of application. Your personal savings must be in the form of cash funds held in an account (including savings accounts and current accounts, even if you need to give notice to withdraw money from those accounts).
Other accounts, shares, bonds, pension funds or agreed overdraft facilities are not acceptable.
If you, as the main applicant, have been present in the United Kingdom for 12 months or more, you or a family member of the entrepreneur must have £600 to support yourself.
Conditions of a Tier 1 (Entrepreneur) Visa
You cannot take any employment other than working for the business or businesses that you have established, joined or taken over.
At the time of seeking extension, you must be able to show that you have established a new business or businesses that has/have created the equivalent of at least two new full-time jobs for persons settled in the United Kingdom.
Alternatively, you must have taken over or invested in an existing business or businesses and your services and investment must have resulted in a net increase in employment by creating the equivalent of at least two new full-time jobs for persons settled in the UK.
The UK Government allows dependants to join you in the United Kingdom. A dependent is categorized as wife, husband, civil partner, same-sex partner, unmarried partner or a child under the age of 18 years.
If you are outside the United Kingdom or have been in the United Kingdom for less than 12 months, the family member must show that you or the dependant have at least £1,600 (for each dependant) to support the dependant as well as the funds needed to support you.
Contact our Immigration Lawyers London, UK
For further information, please contact our Immigration lawyers in London – click here or call us on +44(0) 20 3318 5794.