Tier 1 Entrepreneur Visas for the UK : Setup a Business / Enterprise in the UK
Tier 1 Entrepreneurs Scheme is suitable for those who Wish To Setup Business Enterprise in UK. If you have £200,000 (or £50,000 if you are under Tier 1 PSW) to invest & wish to setup a Business Enterprise in the UK or take over an existing UK Enterprise, you may be eligible to apply under Tier 1 (Entrepreneurs) Scheme under Points Based System of UK Immigration.
Prove that you are ′Genuine Entrepreneur′
To avoid misues of the Tier 1 entrepreneur route, Home Office introduced a ′Genuine Entrepreneur′ test from 31st January, 2013. All applicants will neeed to prove that they are a genuine entrepreneur. The applicants also need to meet the requirement that the investment funds are held on an ongoing basis until their investment is made in the business.
Tier 1 Entrepreneur scheme is open for applications from outside the UK as well as from within the UK. If you are in the UK under certain visa categories, you may be able to switch to Tier 1 Entrepreneur within the UK. You have to score 75 points for the Investment Funds available to you and 10 points each for Maintenance funds and English Language requirements as under:
- You can score max. 25 points for the level of funds available i.e. £50,000 or £200,000.
- You can score 25 points if the funds are in a UK Bank or FCA monitored Financial Institution or FCA approved / monitored overseas bank / financial institution.
- You can score 25 points if the funds are disposable in the UK i.e. if the funds are not already in the UK it should be possible to transfer them to the UK freely.
- You can score 10 points if you have held required level of Maintenance Funds for previous 3 months for you as well as your dependants.
- You can score 10 points if you can demonstrate that you meet the English Language requirements.
Tier 1 Entrepreneur visa allows you to setup or take over / buy an existing UK business, however the main applicant cannot work for any other business. Dependants are free to take up the employment or even to take up further studies in the UK. Please note that there are some restrictions on the business activities you can carry on under Tier 1 Entrepreneur visa.
How HSMP Services can help you?
If you are planning to apply under Tier 1, Tier 2, Tier 4, Tier 5 or for ILR (Indefinite Leave To Remain or Naturalisation / British Citizenship, we will be happy to offer professional help. We can check and assess your documents to assess if you are eligible to apply or when you would be eligible to apply. We are registered with OISC, UK as Immigration Advisors and we have been helping Highly Skilled Migrants in Immigration related matters since 2004.
Please contact us today to fix an appointment to discuss your UK Visa eligibility and application requirements