The UK Tier 1 Entrepreneur Visa is for individuals from countries outside of the EEA who want to establish or acquire a business in the UK.
Initially you get a visa for 3 years and an extension of 2 years is granted providing certain conditions are met. Indefinite Leave to Remain can be applied for after 5 years.
The basic requirements for the initial visa are
Evidence of £200,000 available to invest in the UK plus maintenance funds (or £100,000 per applicant if acting as a 2-person Entrepreneurial Team;
English language ability (holder of accepted English language degree or accredited English language test);
After 3 years, in order to secure the 2 year extension, you must show:
That you are appointed as a Director of a UK company within 6 months;
That you have invested £200,000 in a UK business(es) via equity or unsecured loan;
Evidence that your investment has resulted in the creation of the equivalent of 2 full time jobs for 12 months;
That you spent 185 days per year in the UK;
Benefits of Entrepreneur Visa
The UK Tier 1 Entrepreneur Visa allows the holder to start a business or control an already existing business in the UK without the need for a UK work permit. They will therefore not require an offer of employment by a sponsor based in the UK.
The investment essential to obtain this visa is comparatively lower than the Investor’s Visa and in a few cases where the investment is higher than £200,000, applications for the visa are expedited.
The Entrepreneur Visa offers a potential route to permanent settlement in the UK and spouse and dependents may accompany the visa holder. Unmarried partner, spouse or any dependent children are entitled to come to the UK and obtain education, healthcare and seek employment.
Applicants for this visa are eligible to switch to another category of Tier 1 Visa if they can fulfill the requirements of the new category. However, candidates cannot switch to a Post Study category. The Entrepreneur Visa is granted for an initial period of 3 years but it can be extended for a period of two years upon the expiration of the 3 years. This extension is granted based on the performance of the business and the original criteria of the visa.
We will assist you by introducing suitable Venture Capital funding, business opportunities and support according to your needs either in house or via our network of specialist investment advisers.