As Brexit approaches, there are bound to be several changes coming up in the next few months with respect to the UK’s immigration and visa rules. So we will be updating this post quite a lot. However, for the time being, here is an overview of the Tier 1 Entrepreneur Visa eligibility criteria the way they stand in January, 2019.
The Tier 1 Entrepreneur Visa is intended to allow migrants to set up businesses in the UK in order 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 as 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
- be at least 16 years old
There are a few options under this category:
If you have Access to £50,000
Applicants who have access to £50,000 in investment funds from one or more of the following:
- a UK entrepreneurial seed funding competition endorsed by UK Trade and Investment (UKTI)
- a UK government department making funds available for the purpose of 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).
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
In order to apply as 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
If you are interested in applying as a Tier 1 Entrepreneur Visa and to check your eligibility apply for the same, email us on email@example.com or call on +91 98191 27002 to book an appointment for a consultation. We have a dedicated business immigration specialists dealing specifically with High Net Worth individuals who require advice and assistance to meet the terms of Tier 1 Entrepreneur Visa UK requirements. We have offices across India and the UK: Mumbai, Delhi, Bangalore, Chandigarh and London.
If you have a query that you would like answered before you can make any further steps in your Tier 1 Entrepreneur Visa application process, just fill in the form and our experts will get in touch shortly with exactly the answers you require.
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