Tier 1 (Entrepreneur) visa

UK Tier 1 Entrepreneur Visa gives an opportunity to the businessman who wishes to start their business or run an existing business in the UK. To apply for the visa, you have to meet the eligibility requirements and you should be outside the European Economic Area (EEA) /Switzerland. Your visa application for new Tier 1 Entrepreneur visa or for an extension, should meet the new rules that have been come into effect from 11th January 2018.

Eligibility Requirements of UK Tier 1 Entrepreneur Visa

If you are planning to start your business in the UK, you have to meet the eligibility requirements:

a) You should be at least 16 years of age.

b) You have to meet the English language requirements as designed by the UK embassy.

c) You must have sufficient funds to support yourself during your stay in the UK.

d) The applicant needs to invest at least £50,000 funds in UK business to apply for Tier 1 Entrepreneur Visa.

e) If you want to share investment funds, you can do an alliance with the other Tier 1 (Entrepreneur) applicant and share the equal amount of funds.

Documents requirement for UK Tier 1 Entrepreneur Visa

You have to provide all the required documents along with the visa application to support your statements you have made in the application.

a) The applicant has to provide the latest passport or other travel identification.

b) You need to submit a business plan before applying for the visa.

c) You have to provide your English exam score to prove your English Language proficiency.

d) You may provide bank statements in order to show that you can manage your living expenses, accommodation, travel cost during your stay.

e) You have to submit your character certificate stating that you have no criminal records in past, from the nation where you have lived in for 12 months from past 10 years.

f) You have to score at least 95 points that depend on the factors like investment, English language proficiency and maintenance funds.

g) Your funds should be transferable to the UK.

Why is the UK the best country for business?

a) The UK is the suitable destination for investment in Europe.

b) You need not pay any charges or duties while importing or exporting in the premises of the European Union (EA).

c) The UK has business tie-ups and free trade agreements with most of the non-European countries.

d) The UK has built a strong infrastructure. The UK, presently, has big infrastructure projects like energy, transport, science, that helps in the growth of your business.

e) At present, approx. 1.4 million populations in the UK is of Indians and form the largest subgroup of British Asians.

UK Points System

To qualify for the Tier 1 Entrepreneur Visa, you have to score at least 95 points on the factors like factors of investment, Language proficiency and maintenance funds.

 

ConditionsPoints
Access to investment funds
Access not less than  £200,00025 points
Funds have one or more regulated financial instructions25 points
Funds are free to use in the UK25 points
English Language proficiency
Meeting the minimum English language requirements10 points
Maintenance Funds 
Funds to support yourself during your stay in UK10 points

 

a) Investment funds – You must have sufficient funds to invest in the UK. Your funds should be free to spend in the UK.

b) English Language proficiency – You have to pass the approved English Language test and it should be equal to B1 Level or above. You need to get a good score on all the four components like reading, writing, speaking and listening. If you are from countries like Australia, the Bahamas, Canada, USA and other English-speaking nation, and you have academic Qualification was in English language and is equivalent to UK Bachelors degree, master degree or Ph.D.,  you need not provide prove your English proficiency.

c) Maintenance funds

The applicant must have desired funds to support their stay in the UK.  He/she has to look after all the expenses like accommodation, traveling cost, living cost etc.  The funds’ requirements depend on whether an applicant is applying for visa application or for an extension. The applicants must have funds of at least £3,310 and the ones who want to extend their period need to have funds of at least £945.

How to apply for the visa?

a) If you are applying outside the UK, you need to apply for Tier 1 Entrepreneur visa via online.

b) You need to submit your latest photograph and biometric data along with your visa application. Depending on your nationality, your chance of getting a visa varies.

c) If you live in North Korea, you can’t apply through the online system. You need to download the visa application and fill in the details.

d) If you apply in the UK, you can either move to this visa if you already are a holder of other visa or you want to extend your existing TIER 1 Entrepreneur visa.

 

Processing time and the fee of this visa

The average processing time for the tier1 visa is 2-4 weeks. The processing time may vary if there is an interview, schedule by the UK Embassy.

The average processing time for tier1 visa is 2-4 weeks. The processing time may vary if there is any interview, schedule by the UK Embassy.

Government FeesFor Outside the UKInside the UK (FLR)
Main applicant£1,277£1,021
Main applicant ( if you are from Turkey or Macedonia)£1,277£966
All dependants£1,277per person£1,021vper person



Duration of Stay

a) Tier 1 Entrepreneur Visa is valid for up to 3 years and four months. After applying for the extension period, goes up to 6 years and 4 months.

b) The candidates, who have switched to Tier 1 Entrepreneur visa from another category, get the extension of three years and rest applicants; can extend this visa only for two years.

c) The extension of visa entirely depends on the visa status of the applicant.

Benefits of UK Tier 1 Entrepreneur Visa

After the grant of this visa, you get the amenities like:

a) You can live and work anywhere in the UK.
b) You get the right to start your own business in the UK.
c) You are free to bring your family members or dependents to accompany you in the UK.
d) You get the access to best education and healthcare system.
e) You may apply for UK permanent residency within the span of five years.
The latest changes made in UK Tier 1 Visas, the applicants would able to settle in the UK faster and avail other advantages as well:

a) Significant Investors now can live and spend at least 180 days outside the country.
b) Entrepreneurs with their business partners can enter the UK; with condition that they need to have joint funds.
c) In order to enjoy faster settlement in the UK, Entrepreneurs can now introduce 10 jobs in the UK or must generate a turnover of more than 5 million pounds in the duration of three years.

For availing more information about Tier 1 Entrepreneur Visa, you can get in touch with the Make Visas UK Immigration experts by calling on the official helpline +91-7042184185 or write down your queries on info@makevisas.com.