How do I apply for Tier 1 Entrepreneur Visa UK?

Posted by alice hall on April 4th, 2019

The United Kingdom has always been attracting entrepreneurs from across the world owing to its market potential, scope and vast range of business opportunities it offers for the enthusiastic investors.  For such business enthusiasts, the UK Tier 1 Entrepreneur Visa is the perfect fit.

Scope of Tier 1 Visa

The UK Tier 1 Visa lets qualifying investors to open their own business and settle down with family in the UK. The validity of the visa is five years (three years’ initial validity plus two years extensible). Once you have successfully fulfilled the five tenure in the UK on this visa, you become eligible to apply for Indefinite Leave to Remain (ILR) that gives you a permanent residence qualification for the UK.

Advantages of UK Tier 1 Entrepreneur Visa

UK Tier 1 visa attracts many hundreds of applicants worldwide owing to the benefits it has as follows:

* You can start a business in UK with an investment as low as £200,000
* Get an extension for up to two years after the initial validity period of three years.
* As an individual with Tier 1 visa, you and your family can enjoy the medical and education benefits that the UK government provides for its citizens.
* Quick and smooth processing without no hassles.

Eligibility for UK Tier 1 Entrepreneur Visa

* If you are keen on knowing whether you are eligible for applying to UK Tier 1 Entrepreneur Visa, please check if you satisfy the following criteria:
* You have a net asset value of worth £200,000 or more.
* You are backed by minimum of three sponsors who are keen to invest in your business
* Your funds are legal and are safe in a legal organization such as bank or any such financial institution
* As for any other UK Visa, you should be able to clear the English requirement test with a score of 4 in each band in IELTS or an equivalent assessment test such as UK NARIC
* Your graduation is done in English medium

Note: The rules change from time to time depending on many factors. For the latest updates and changes, it is suggested that you take the help of best Tier 1 entrepreneur visa lawyers.

Points System for UK Tier 1 Visa

As an applicant, you should be able to score 95 points to be eligible for UK Tier 1 Visa. Here is the break up that gives you clarity on points allotted for various aspects:

* Accessibility to funds of £200,000 either through seed funding or government based organization or venture capital firms – 25 points
* Your funds are regulated by legally regulated financial institution – 25 points
* Your funds are not bound by any restrictions and you are free to spend them at your will – 25 points
* You can access your funds as and when needed without any restrictions – 10 points
* You satisfy English language proficiency – 10 points

Note: As an entrepreneur Visa applicant, you shall have to submit a Criminal Record Free certificate. This is also mandatory for all your dependents of over 18 years of age. If you have resided in multiple countries in your past for more than ten months in any country, you should submit the similar certificate from all countries as applicable.

You can submit the certificates within six months of submitting your entrepreneurship visa.

Documents required

The list of supporting documents that you have to attach with your UK Tier 1 Visa application is given here:

* A legally valid passport of nation from which you are applying
* Proof of funds that meet the criteria as said above
* Your future business plan, once if visa is approved
* Your bank statements of the recent past
* Tuberculosis clearance test certificate, for nationals of specified countries
* Free of Criminal Record Certificate
* English language proficiency certificate

Note: For further information on changes to UK immigration rules or other documents that you may have to produce based on your personal and professional background, please consult best Tier 1 entrepreneur visa lawyers.

Once you have cleared all the requirements, you can apply online or take the help of professional experts in handling UK tier 1 visa cases to ensure a successful and smooth UK tier 1 visa experience.