The Tier 1 (Entrepreneur) visa category applies to the main applicant and all immediate family members, including spouse and children under the age of 18. Initially, entrepreneur visa is granted for three years and four months and can then be extended for another two years. Applicants in the first category are eligible to apply for British citizenship after having spent 6 years in the country, while those who create ten jobs or achieve an annual turnover of £5 million a year are eligible to apply after 5 years of residence in the UK.
To make a successful entrepreneur visa application, applicants are required to score sufficient points based on the funds that are available to them to invest, their English Language ability and by having enough money for their living costs in the UK (maintenance).
Applicants need to have access to either:
At least £200,000
At least £50,000 from:
English Language Requirement
Level B1 of the CEFR. List of English Language Tests
Maintenance (living costs)
Applicants are also required to meet the maintenance requirement. This means that in addition to the funds required for investment they need to show personal funds to satisfy the UKVI that they will be able to pay for their own living costs.
Switching (someone already in the UK under a different immigration category applying to extend their stay under a different immigration category)
It is possible for those who are in the United Kingdom under the Tier (1 Post Study Worker) or Tier 4 (general) category to switch into the Tier 1 Entrepreneur category. For those who have the required endorsement and UK degree, there is also the option of applying as a Graduate Entrepreneur.
Leave is initially granted for three years (if the applicant is switching into this category) or three years four months (if the applicant is applying from abroad).
Can I extend it?
Yes, if you can prove that you have invested the funds. You also need to prove that you:
Have created at least two new jobs for British citizens or settled workers –these rules can be flexible, arrange a consultation to find out more.
Are engaged in business activity.
Does it lead to settlement?
Yes, the standard requirement for settlement is five years spent in this category. It is also possible to fast-track the time spent in the UK to obtain settlement if you create ten jobs or achieve an annual turnover of £5 million a year.
You may also be interested in a Tier 1 Investor Visa if you’re looking to invest in a UK based company.
Important: Tier 1 (Entrepreneur) visa changes introduced on 31 January 2013.
The Entry Clearance Officer must be satisfied that:
In deciding if the applicant’s plan for their business is genuine the Entry Clearance Officer will take into account the following factors: