How to apply for UK Tier 1 Entrepreneur Settlement Visa? The SmartMove2UK explains!

By UK Immigration Lawyers in India

Disclaimer:

The UK Entrepreneur Visa permanently closed down in March 2019. The UK Home Office no longer accepts new applications for UK Entrepreneur Visa. However, you can apply for an extension / settlement of your current UK Entrepreneur Visa if you are eligible and meet all the requirements.

Tier 1 Entrepreneur Settlement Guidance

The Tier 1 Entrepreneur visa was for anyone looking to start a business in the UK or take over an existing one. However, the crucial criteria were to make a company investment of at least £200,000. 

While the route has been closed for new applicants; the path is still open for applicants looking to extend and walk the path of Tier 1 Entrepreneur Settlement. Extension and settlement applications are open until 6th April, 2025. You can apply for an Indefinite Leave to Remain, as long as you are eligible for it. 

You can settle in the UK by obtaining indefinite leave to reside. It is also known as “settlement.” If you obtain it, you are free to live, work, study, and receive benefits in the UK at any time. It can be used to obtain British citizenship.

No time to read the blog, you can listen to our podcast!

How to apply for settlement as Tier 1 entrepreneur?

Here’s how you can apply for settlement as Tier 1 entrepreneur on the Gov.uk website:

1. You need to fill out an online form. Click here to find the link.
2. The online application is not time-bound. So if you get occupied in the middle of filling out the form, you can save it and continue later.
3. You will be asked which category of indefinite leave to remain you are applying in when you submit your application. Use “Global Talent” if you have a Tier 1 (Exceptional Talent) visa.

When looking to apply for settlement as Tier 1 entrepreneur, you will have to meet certain requirements; for instance: 

• You have passed the ‘Life in the UK Test’ and the English language requirement,
• You also meet the financial conditions, which include providing evidence of your source of income
• The fee must be paid as part of your application

When applying for a Tier 1 Entrepreneur Settlement, there is a “help” section by the UK Home Office to guide you through the process of form filling; however, keep in mind that they do not offer immigration advice. Click here to visit the help section.

The service helps those who:

• Are having trouble using a computer or a mobile phone
• Do not have access to the internet

Please note – You can only use this service if you’re applying from within the UK. 

If you are applying from outside the UK  or need assistance in making your settlement application outside the UK, you can contact our experts on Call or WhatsApp at +91 98191 27002. You can also chat or book an online consultation.

Financial & other requirements Tier 1 Entrepreneur settlement applications

Like any visa route, getting a Tier 1 Entrepreneur Settlement involves the applicant meeting all the requirements for Tier 1 Entrepreneur settlement applications and eligibility, when successfully applying for Tier 1 Entrepreneur settlement.

You must –

• Have stayed in the UK for 2 to 5 years,
• Meet the financial requirements. You must have invested in one or more UK businesses, either:
  • £200,000 in cash
  • £50,000 in cash
• Check the duration in the UK and the financial requirements to determine your exact eligibility, which is based on your visa.

There are additional ways to apply for indefinite permission to remain if you are ineligible to use one of these visas. Click here to check if you can get Indefinite Leave to Remain.

When to apply for a Tier 1 Entrepreneur Settlement?

The earliest you can submit an application is 28 days before you have fulfilled the time in the UK and financial requirements. For more information, see the time in the UK and financial requirements. If you submit your application early, it can be rejected.

Do not wait until the expiration of your present visa. You must first renew your visa if it expires before you may submit an application for indefinite leave to remain.

Fees to apply for a settlement with Tier 1 Entrepreneur visa

Each application will cost £2,404. If they qualify, you can list your partner and kids on the same application. There is no charge for taking your biometric data, which consists of your fingerprints and a photo. If you apply using the standard service, it can take up to 6 months to get a decision. Unfortunately, there is no priority or super-priority services for the Tier Entrepreneur visa.

Please Note: If you spend two years or more outside the UK consecutively, you risk losing your indefinite permission to remain. Before you can travel back to the UK, you might need to apply.

What to do after submitting an application for settlement as Tier 1 entrepreneur?

You will be required to schedule an appointment at a UK Visa and Citizenship Application Services (UKVCAS) service location after submitting your application to present your biometric data (your fingerprints and a photo).

Additionally, you must send your supporting documentation. 

One can:

• Uploading them on the online platform
• At your UKVCAS visit, have them scanned.
• If you are applying for any children on your form, they must give biometric data if they are 6 years old or older.

After the application is submitted, how long does it take to get Tier 1 Entrepreneur Settlement?

Usually, it takes 6 months to receive a decision. You will receive a judgment within two working days if you paid for the “super-priority service,” or within five working days if you paid for the “priority service.”

Monday through Friday are considered working days, excluding federal holidays.

If your application is complicated and will take longer, you will be contacted, for instance:

If you need to attend an interview because of your personal circumstances, such as if you have a criminal conviction or your supporting documents must be verified

When is the earliest I can submit my Tier 1 Entrepreneur settlement application?

You must submit your application within 20 days of the expiry of your current visa.

Is job creation requirement a must in Tier 1 Entrepreneur Settlement?

Yes. Job creation requirement is a must in Tier 1 Entrepreneur Settlement or Indefinite Leave to Remain. 

In conclusion, the candidate must either:

• Have a new firm that has created the equivalent of at least two new full-time jobs for settled people, or
• The equivalent of at least 2 new full-time jobs for settled people have been created by taking over or investing in an existing firm or businesses, and these actions have contributed to a net increase in the employment that is provided by the business or businesses for settled workers.

Can family members also apply for Tier 1 Entrepreneur settlement?

Yes. Dependents or family members also apply for Tier 1 Entrepreneur settlement. As long as the main holder can qualify – and the dependents can meet the eligibility criteria, they can apply for an extension.

Can a Tier 1 Entrepreneur Settlement application be refused?

Yes. Like any other visa route, Tier 1 Entrepreneur Settlement application can be refused. Some common reasons for refusal are: 

• Not meeting the eligibility criteria
• Not meeting the requirements
• Insufficient documents 
• Other immigration issues

What is Tier 1 Entrepreneur Accelerated Settlement?

For applicants who want to settle in the UK earlier than the customary 5-year period, the Home Office created rapid settlement known as Tier 1 Entrepreneur Accelerated Settlement.

After 3 years of holding leave under the Tier 1 Entrepreneur category, applicants may apply for fast settlement. In addition to the usual standards, applicants must be able to demonstrate that they have established 10 full-time positions for British or settled workers or that their company generates at least £5 million in annual revenue.

Documentary proof of how each condition is met will be requested from applicants. An applicant must present audited financial statements and a note from their accountant, for instance, if they plan to rely on the £5 million in income. 
According to the Tier 1 Entrepreneur Accelerated Settlement Policy Guidance, both documents must comply with Home Office criteria. If you have been granted a Tier 1 Entrepreneur visa, you can apply for a Tier 1 Entrepreneur Accelerated Settlement, also known as Indefinite Leave to Remain (ILR), after 3 years rather than 5. This will allow you to fast-track your settlement in the UK.

How can The SmartMove2UK help in successfully applying for Tier 1 Entrepreneur settlement?

Here’s how we can help you in successfully applying for Tier 1 Entrepreneur settlement:

Our team of UK immigration lawyers have assisted clients with various UK visas, extension applications and nationality laws. Here’s how The SmartMove2UK can help:

• Our team will accurately assess your personal circumstances to ensure you meet the relevant criteria. 
• Our team will ensure that you submit correct documents to strengthen your case.
• Our team will analyse and work out the legal merits and complexities of your case and using our knowledge and expertise, will work out a strategy of how to present your case to the UKVI Home Office or Immigration Tribunal Judge in order to get you the best result. 
• Our team will guide you through the complex UK Immigration Rules and relevant UKVI Home Office guidance.
• Our team will carefully consider your immigration background and history and together, we tailor the best possible result for you.
• Our team will carefully complete and submit your UK Visa application, on your behalf, to the best possible standard.
• Our lawyers will share significant insights into your immigration plan for your first meeting with us.

Need help?
You can contact us on the details below or visit our offices in Mumbai & Delhi for in-person consultations today! Our team has been consulting clients from all around the world via Zoom & Skype.

Our UK immigration lawyers have helped over 1000 clients with not only various business, investment, visa extensions, and settlement applications; but also student, spouse, unmarried partner and other family and dependent visas. Our team can advise, assist and help you navigate the process and understand your options.