UK Tier 1 Entrepreneur Visa
The Tier 1 Entrepreneur visa is aimed at those wishing to set up, join or take over an existing UK business and in most cases making a minimum investment £200,000.
If you are switching into the Tier 1 Entrepreneur category from the Tier 1 Graduate Entrepreneur category, or if your investment funds come from an FCA-registered venture capital firm investment or UK government department, the investment threshold is reduced to £50,000. There is different eligibility requirements depending on whether you are required to demonstrate access to £50,000 or to £200,000.
What you need to know
In making your initial entry to the UK as a Tier 1 Entrepreneur, you will be granted a 3 year and 4 month visa. You shall be able to apply to extend this visa at the end of the period for a further 2 years.
- Unless you meet the criteria to qualify to meet the £50,000 investment, you must demonstrate that you have access to £200,000 that is held in a regulated financial institution. The funds can be held in either yours or your partners name or of a third party that is providing you with the funds.
- You are required to provide evidence that you are proficient in English language.
- You must meet the Maintenance criteria and provide evidence that you can support yourself and any dependants during your stay
- You must meet the Genuine Entrepreneur Test, which involves the provision of a business plan and background as to the skills, qualifications and experience necessary to establish a business in the UK.
- As a Tier 1 Entrepreneur visa holder, you are not allowed to carry out any work outside your business, or be employed by another business. Also, you cannot claim UK public funds
You can bring as your dependants, children under the age of 18 and your spouse/unmarried/civil partner. For further information, please see our section for Family Members.
TIER 1 ENTREPRENEUR VISA - VENTURE CAPITAL STREAM
You can apply for a Tier 1 Entrepreneur Visa ( Venture Capital Stream ) if: You want to set up or run a business in the UK You are from outside the European Economic Area (EEA) and Switzerland. You are able to make a qualified investment of GBP50,000.
YOU CAN APPLY FOR A TIER 1 ENTREPRENEUR VISA ( VENTURE CAPITAL STREAM ) IF:
- You are from outside the European Economic Area (EEA) and Switzerland.
- You are able to make a qualified investment of GBP50,000
- You allows the Venture Capital Firm to keep a 10% equity stake in the business that the you start in the UK
- You need to create at least 2 employments
- You meet the other eligibility requirements
- Set up or take over the running of 1 business or more
- Bring family members with you
You can't :
- Do any work outside your business
- Get public funds
Your funds must be:
- Held in 1 or more regulated financial institutions.
- Free to spend ('disposable') on business in the UK.
You must also:
- Meet the English language requirement IELTS 4.0 in all bands
- Be able to support yourself during your stay
- Score 95 points - check your points score
- Be at least 16 years old.
- Venture Capital Firm is authorized and regulated by the FCA which is the same body that also authorizes banks and insurance companies.
- Settlement assisstances including: opening a bank account, getting VAT registration, finding employees, finding customers and business networking etc.
How long you can stay
After three years, at the time of extension application,we will help our client ensure that they have created at least two employments and can demonstrate that GBP50,000 have been invested in their business.
We provide FREE online IELTS (English Language) Course.
XIPHIAS Immigration helps you and guide you in every way to fulfill your dreams to settle in UK. We have all the expertise to prepare your application and advice you before and after you come to UK on how to accomplish the conditions put forth by the UK Authorities.
Now is the time to take advantage of booming business sector in UK. The opportunities are unlimited.
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