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.
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
- 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
- do any work outside your business, for example work where you’re employed by another business
- get public funds
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
- 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.