The United Kingdom Tier 1 Entrepreneur Visa is a Home Office approved method for overseas investors to access the thriving United Kingdom Business marketplace . So, if you’re an entrepreneur outside the UK and the EEA, you might want to consider applying for the Tier 1 Entrepreneur visa.
Who can apply?
Individuals outside of the UK, EEA, Switzerland are eligible for the Tier 1 entrepreneur visa. The countries within the EEA are Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK. Iceland, Liechtenstein and Norway are territories also included in the EEA.
How long does a Tier 1 Entrepreneur Visa last?
You can come to the UK with the Tier 1 Entrepreneur Visa for a maximum of three years and four months. You can extend your status for another two years or you could apply for settlements - ‘indefinite leave to remain’.
How Do You Know If You’re Eligible?
To be eligible for the Tier 1 Entrepreneur Visa, you must have access to £200,000 investment funds to apply.
Your Funds Must Be
- Held in one or more financial institutions
- Free to spend on business in the UK
- You Must Also
- Meet the English Language requirement
- Be able to support yourself during your stay
- Be at least 16 years old
Knowledge Of English
When you apply for the Tier 1 Entrepreneur Visa, you may need to prove your knowledge of the English Language. You can prove your knowledge of English by either:
Passing an approved English Language test with at least CEFR level B1 in reading, writing, speaking and listening
Having an academic qualification that was taught in English and is recognised by UK NARIC as being equivalent to a UK bachelor’s degree, master’s degree or PhD
You won’t need to prove your knowledge of English if you’re a national of one of the following countries:
- Antigua and Barbuda
- The Bahamas
- New Zealand
- St Kitts and Nevis
- St Lucia
- St Vincent and the Grenadines
- Trinidad and Tobago
Applying Outside The UK
You must apply online for a Tier 1 Entrepreneur Visa. You’ll also need to have your fingerprints and photograph taken at a visa application centre (to get a biometric residence permit) as part of your application. You will need to collect your biometric residence permit within 10 days of when you said you’d arrive in the UK, even if you arrive at a later date.
If You Want To Extend Your Tier 1 Entrepreneur Visa, You’ll Need To:
- Meet the eligibility requirements
- Be registered as a director no more than six months after the date you were given permission to stay in the UK under a Tier 1 Entrepreneur Visa
- Have created at least two full time jobs that have existed for at least 12 months
- You must have invested into one or more UK businesses £200,000 in cash
After applying to extend your Tier 1 Entrepreneur Visa, a decision will be made on your application within eight weeks. If your application is complex, it might take longer and you’ll be contacted to perhaps arrange an interview, verify supporting documents or question previous criminal convictions. Once you’ve applied to extend the visa, you can stay in the UK until a decision has been reached, as long as you applied before your last visa expired.
When it comes to family, your dependants can come with you when you come to the UK on this visa. Your family members must have a visa if they’re from outside the EEA or from Switzerland. A dependant can be your partner, your child under 18, and your child over 18 if they are currently in the UK as a dependant.
Family members must apply online and have their fingerprints and photographs taken at a visa application centre as part of their application to get a biometric residence permit. The permit will then have to be collected within 10 days of when they said they’d arrive in the UK, even if they actually arrive at a later date.
If you have children while you’re in the UK, you can apply for permission for them to stay if you want to travel in and out of the UK with them.
Final Words: The UK’s Tier 1 Entrepreneur Visa
The UK is an exciting hub for entrepreneurs and welcomes innovation and modernisation.
ivestorsforvisas, and our team of visa specialists, are here to help support and guide you through your visa application process and selection of a business to invest in.
The support we provide includes:
- Introducing you to suitable companies for investment
- Matching you with the right investment
- Negotiating the right deal for you
- Developing your Business Plan
- Training you for your Home Office Interview
- Organising a visit to your chosen company