Tier 1 (Entrepreneur) of the points based system is for non-European migrants who want to invest in the UK by setting up or taking over, and being actively involved in the running of, a business or businesses in the UK. This application is points based system and requires the applicants to have access to at least £ 200,000 for investment in the UK (or £ 50,000 if you are applying as Tier 1 Graduate Entrepreneur).
The Tier 1 Entrepreneur visa is intended to bring in applicants who would be able to add value to the UK economy by bringing in capital and generating full time employment. As part of the enhanced screening process the Home Office has also introduced a ‘test of genuineness’ to ascertain if the applicant is a genuine entrepreneur.
As part of this evaluation the Home Office takes in to account various factors including (but not limited to):
- Credibility of the investment funds
- How viable and credible is the business plan
- The extent of market research undertaken by the applicant
- Relevant experience in the field
- Immigration background of the applicant (both the applicants if forming an entrepreneurial team)
This visa category also allows the applicant to form an ‘entrepreneurial team’ with one other Tier 1 (Entrepreneur) applicant and share the same investment funds.
A Tier 1 (Entrepreneur) visa will allow the main applicant to bring their dependants to the UK, this visa can also be extended in country and it is possible for the main applicant and their dependants to obtain settlement on the basis of the same.
If you would like to ascertain your eligibility for this category we would advise you to book an appointment with our Solicitors to discuss the merits of your case.
It’s best to seek professional advice before you proceed to save unnecessary loss of time and expense.