Tier 1 (Entrepreneur) visa
The Tier 1 (Entrepreneur) visa is for those persons who wish to invest in the UK by setting up or taking over one or more businesses in the UK and who wish to be actively involved in their running. These persons must score 75 points for “attributes”, 10 points for English language knowledge and 10 points for maintenance (funds).
For applicants based outside the UK, entry clearance is normally given initially for three years and four months after which an extension for up to two years can be obtained leading to Indefinite Leave to Remain in the UK after 5 years of stay. Switching in-country is also allowed for applicants currently in the UK under a different visa category. For full details please contact us.
Attributes table of how the 75 points are calculated
- You have access to not less than GBP 200,000 (This amount may be shared by a team of a maximum of two entrepreneurs. You or the entrepreneurial team must have GBP 200,000 of your own money available to make a fresh investment into business in the UK. You must supply documentary evidence of money in your / each team member’s name as specified). You can include money available by third parties such as from your spouse, partner or other team member, provided a declaration is made by them that the funds are available to you or to the business in question. The £200,000 can be made up of money already invested in a UK business together with access to any balance of money needed to total £200,000).
- The money is held in one or more regulated financial institutions (Confirmation of the money available to you must come from a financial institution that is regulated by the official financial regulator in the country where the funds are located. Money held in the UK must be in an institution that is regulated by the FSA. If the UK Border Agency is unable to make satisfactory verification checks then the application will be rejected).
- The money is disposable in the UK (If the money is not held in the UK, all of the funds required must be freely transferable to the UK. Money held in an overseas account but in a financial institution that is regulated by the FSA will be acceptable. Money held in an institution that is not regulated by the FSA must have confirmation that the money can be transferred into the UK.).