The routes to obtain a Tier 1 Entrepreneur visa are:
- Access to £50,000 of investment funds.
- Invest £200,000 in a business
Access to £50,000 of investment funds
You can apply if you have access to £50,000 in investment funds from one or more of the following:
- a UK entrepreneurial seed funding competition endorsed by UK Trade and Investment (UKTI)
- a UK government department making funds available for the purpose of setting up or expanding a UK business
If you’re from outside the UK you can also apply if your funds are from a venture capital firm registered with the Financial Conduct Authority (FCA).
You can also apply if you’ve already invested £50,000 in a UK business. You must have invested the funds less than 12 months before you apply.
Access to £200,000 of investment funds
You can apply for a Tier 1 (Entrepreneur) visa if you have access to £200,000 in investment funds and you can prove that the money is either:
- your own
- made available to you by other people (‘third parties’), eg a husband, wife, partner or investor
- in a joint account with your spouse or partner but only if they aren’t applying for a Tier 1 (Entrepreneur) visa
The funds must be held in the UK if you’re applying for leave to remain.
The Tier 1 Entrepreneur visa is given initially for a period of 3 years and 4 months after which it can be extended for another 2 years. After 5 years of residing in the UK the main applicant and his dependents are eligible to apply for settlement (Indefinite Leave to Remain).
RKG Consulting will be pleased to advise on how to carefully structure a Tier 1 Entrepreneur visa application.