Tier 1 Entrepreneur Visa
What is a Tier 1 Entrepreneur Visa?
The Tier 1 Entrepreneur visa is now closed for new applicants from 29th March 2019 and has been replaced by the Innovator Visa route. If you are currently on Tier 1 Entrepreneur route, there are transitional rules in place. If you wish further information, please feel free to Contact Us.
The Tier 1 Entrepreneur category of the Point-based System (PBS) is for individuals investing in the United Kingdom by setting up or taking over and actively involving in the running of one or more businesses in the United Kingdom.
To make an initial application in this category, you must either have funds of £50,000 or £200,000 (depending on your circumstances) to invest in your UK business. You may be able to apply for a Prospective Entrepreneur Visa for discussions to secure your funding in the UK. You must also provide a business plan and demonstrate genuine entrepreneurial skills. Your family can come with you under this category (see Family Visa).
Initially, the Tier 1 Entrepreneur visa is granted for a period of 3 years and 4 months and can be extended for up to an additional 2 years. You will be able to settle in the UK after 5 years through this route.
Key Points
- can switch to Innovator Visa route if applied
- route for those who wish to establish, take over or join a business in the UK
- requirement for a minimum of £50,000 or £200,000 (depending on your circumstances) to invest
- maintenance and English language requirements apply
- can bring family
- must provide a business plan
- initial period of 3 years and 4 months granted
- up to 2 years extension is possible (see Entrepreneur Visa Extension)
What are the eligibility criteria?
In order to apply you must show that you:
- have access to at least:
- £200,000 investment funds to apply for a Tier 1 (Entrepreneur) visa.
- The funds must be held in one or more regulated financial institutions
- The funds must be free to spend (‘disposable’) on business in the UK
- or £50,000 investment funds to apply for a Tier 1 (Entrepreneur) visa. The funds must from one or more of the followings:
- a UK entrepreneurial seed funding competition endorsed by the Department for International Trade (DIT)
- a UK government department making funds available for the purpose of setting up or expanding a UK business
- a venture capital firm registered with the Financial Conduct Authority (FCA)
- £200,000 investment funds to apply for a Tier 1 (Entrepreneur) visa.
- meet the English language requirement
- pass an approved English language test with at least CEFR level B1 in reading, writing, speaking and listening (equivalent to IELTS 4 – 5)
- have an academic qualification that was taught in English and is recognised by UK NARIC as being equivalent to a UK bachelor’s degree, master’s degree or PhD.
- be able to support yourself during your stay
- If you are outside the UK seeking entry clearance you must have at least £3,310 of personal savings which you must have held for 90 consecutive days before the date of your applications;
- If you are in the UK seeking further leave to remain, you must have at least £945 of personal savings which must have held for 90 consecutive days prior to the date of your application.
- must demonstrate genuine entrepreneurial skills – This requirement for the application is probably the most complex criterion and therefore we would encourage you to Contact Us for more information.
- score 95 points
- Attributes – at least 75
- English language – 10
- Maintenance – 10
- be at least 16 years old
- tuberculosis test results are required if you are from a designated country
- criminal record certificate from any country you have stayed in for a total of 12 months or more over the last 10 years.
To give your case the best chance of success, get in touch
To give your visa the best chance of success, and to reduce your stress, please contact our immigration experts.
If you wish to speak directly with one of our immigration specialists to get advice about business and personal immigration, or education in the UK and other visa issues, then please contact our Glasgow Head Office on Phone T: +44 (0)141 212 3355 or request a call back by completing the Online Form. You can also email us at enquiries@lattainternational.com. More information can be found from Contact Us.
*Disclaimer: The above information is for general reference only. Specialist legal advice should be sought.