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Tier 1 Entrepreneur Visa Requirements for setting up shop in the UK

Published on: 10 Dec 2015
Reading time: Approx 6 mins

Important Note

Tier 1 Entrepreneur visa route is closed. However, Innovator, Start-up, Sole representative visa, Tier 1 Investor and Tier 2 route are still open.

The Tier 1 Entrepreneur Visa is intended to allow migrants to set up businesses in the UK to create jobs and growth. UKVI has also introduced a test of genuineness to prevent abuse of the visas granted under this category.

The primary requirements to be met by an applicant to apply for a Tier 1 Entrepreneur visa are they:

must want to set up or run a business in the UK
be from outside the European Economic Area and Switzerland
meet other requirements including
access to at least £ 50,000 in funding
meet the English language requirement
be able to support yourself during your stay
score 95 points – check your points score
be at least 16 years old

What is UK Innovator Visa? – Know all about UK Innovator Visa, Click here

There are a few options under Tier 1 Entrepreneur visa category:

Access to £50,000

Applicants who have access to £50,000 in investment funds from any of the following:

a UK entrepreneurial seed funding competition endorsed by UK Trade and Investment (UKTI)
a UK government department making funds available for setting up or expanding a UK business

Applicants who are from outside the UK can also apply if their funds are from a venture capital firm registered with the Financial Conduct Authority (FCA).

What is UK Start Up Visa? Know here

Former Tier 1 (Graduate) Entrepreneurs

Students who were previously granted Tier 1 (Graduate) Entrepreneur can apply for Tier 1 Entrepreneur Visa, if they meet the following requirements if they:

are applying to change (switch) your visa (‘leave to remain’)
have or were last granted a visa or leave to enter the UK as a Tier 1 (Graduate Entrepreneur)
have funding from any source

Access to £200,000

To apply for Tier 1 Entrepreneur Visa if the applicants have access to £200,000 in investment funds, the applicants will need to prove that the money is either:

their own
made available to them by other people (‘third parties’), e.g. a husband, wife, 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

Know all about Sole Representative visa Know here

Can I apply for a ten year UK visa if my passport expires on 2022?

- Question asked in a forum

Yes, you can apply for a 10-year visa.

If you are interested in applying for a Tier 1 Entrepreneur Visa or a Tier 1 Investor and to check your eligibility to apply for the same, you can book an appointment for a consultation.

We have a dedicated business immigration specialists (based at our UK immigration law firm branches at Mumbai, Delhi, Bengaluru dealing specifically with High Net Worth individuals who require advice and assistance to meet the terms of Tier 1 Entrepreneur Visa UK requirements.

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