Immigration – Entrepreneur Visa
A UK Tier 1 Entrepreneur visa is for people who wish to establish a new business in the UK or to join and invest in an existing UK business.
These Visas are normally given for an initial period of 2 years after which an extension for 3 years can be applied for, if certain criteria have been met. After the 5 year period the applicant can then apply for Indefinite leave to remain in the UK.
It is essential that you have legal representation by specialist immigration solicitor to assist you with the process.
Hoole and Co. has specialist immigration solicitors who have a wealth of experience in dealing with Tier 1 Entrepreneur Visas.
Qualifying criteria for a UK Tier 1 Entrepreneur Visa:
- Applicants must meet with the English language ability requirements.
- You must have a minimum of £200,000 to start the new business; or
- Have access to £50,000 from a registered capital firm regulated by FSA or a UK entrepreneurial seed funding competition (endorsement from UK TDI) or a UK Government project for specifically establishing a business; or
- Have access to £50,000 and are applying for leave to remain and have, or were, granted leave as a Tier 1 (graduate entrepreneur) migrant, or
- Have access to £50,000, are applying for leave to remain, have or were granted leave as a Tier 1 (Post-study work) migrant, were registered with HMRC as either self-employed or a director of a new or existing business no more than 3 months before your application and finally; are engaged in business activity other than the work necessary to administer your business that conforms with the National Qualifications Framework Level 4 and above.
- The sum must be held in a regulated bank account;
- The money must be disposable in the UK;
- The applicant must intend to either establish, take over or become a director of one or more businesses in the UK within a period of six months;
- The applicant must show an intention to invest the money in a business. The money therefore must be in the applicant’s own possessions in the financial accounts of a UK incorporated business of which he is the director, or available from a third party named in the application;
- The applicant must only be working in the running of the business;
- The applicant must provide a business plan and evidence of market research into their chosen business sector;
- The applicant must provide evidence of educational and business experience (if any), immigration history and previous activity in the UK;
- The applicant must register with HMRC as self-employed, in addition to having been registered as a director of his new or existing business;
- The money available must be spent on running the business. This does not include applicant’s own remuneration.
- The applicants must be able to demonstrate that they have sufficient funds to support themselves, and any dependants, until the business becomes profitable; and
We can also help you with applications for Tier 1 Entrepreneur visa extensions as well as Indefinite leave to remain for an Entrepreneur visa.
If you would like to apply for a Tier 1 Entrepreneur visa please contact us to speak to one of our experienced immigration solicitors who will be happy to assist you.