Tier 1 (Entrepreneur)
Are you an entrepreneur from outside the EEA or Switzerland who is looking to invest in a UK company or set up and run a business in the UK? If you have £200,000 or more to invest, then the Tier 1 (Entrepreneur) visa may be for you. See below for details of the scheme and eligibility requirements or alternatively call us on 0330 053 6790 for further information.
Overview
You can apply for a Tier 1 (Entrepreneur) visa if:
- You want to set up or run a business in the UK
- You’re from outside the European Economic Area (EEA) and Switzerland
- You meet the other eligibility requirements
- You must have access to £200,000 investment funds to apply
Length of Stay
The visa allows you to stay in the UK for a maximum of 3 years and 4 months. You can apply to extend this by a further 2 years.
You can apply for settlement (known as ‘indefinite leave to remain’) once you have been in the UK for 5 years.
What you can and can't do
You can:
- set up or take over the running of one business or more
- work for your business, including being self-employed, but you should check your work meets the conditions of being self-employed
- bring family members with you
You can:
- do any work outside your business, for example work where you’re employed by another business
- get public funds
Eligibility
Tier 1 (Entrepreneur) visa applications are assessed using a points system. A points score of 95 must be obtained.
You must have access to £200,000 investment funds. Your funds must be:
- Held in a regulated financial institution and free to spend in the UK
- Held in the UK if you’re applying for leave to remain
You must prove your money is either:
- Your own
- Made available to you by a third party (spouse, partner or investor)
- In a joint account with your spouse or partner but only if they aren’t applying for a Tier 1 (Entrepreneur) visa
In
- Meet the required level of English language proficiency
- Be able to support yourself during your stay
- Be at least 16 years of age
You can also apply if you have already invested £200,000 in a UK business within the last 12 months before your application. A scheme exists allowing a minimum of a £50,000 investment if specific criteria are met. In our experience, most investors prefer to opt for the £200,000 investment route as there is less risk involved.
Applicants will also need to demonstrate that they are genuine entrepreneurs and will need to produce, amongst other things, a business plan.
For more information about which Tier Visa matches your requirements please call on 0330 053 6790. Our lines are open Monday to Friday from 9 am to 5 pm. Additionally, complete the contact form in the left column and we will be in touch.
