This subcategory of Tier 1 is for business investors seeking to establish, take over or be actively involved in the running of a business in the UK.
The decision to relocate to the UK and invest monies into business is not to be taken lightly particularly considering the high number of visa refusals within this category – approximately 50% of applications are refused. Refusal can be costly given the application fees and surcharges attached to applying - not to mention the impact on your business should your extension application be refused. We have an incredibly high success rate in relation to these applications. We have assisted numerous clients across many industries with their applications and have also assisted clients referred to us following refusal of their application with successful outcomes.
Do you qualify?
Applicants must normally have at least £200,000 to invest in a new or existing UK company, although certain limited categories can apply with only £50,000 of finance.
The £200,000 provides the necessary points, if held appropriately, required by the Immigration Rules for entry clearance as a Tier 1 (Entrepreneur) with three years initial leave being granted, which can be extended upon successful application. As part of your initial application you will have to show you have:
- sufficient investment funds;
- the skills, qualifications and experience necessary to run or join the business in question in the UK;
- a solid business plan for your proposed business in the UK;
- sufficient maintenance funds for you and your dependant family members;
- a sufficient English language capability.
To extend your visa you will have to show that your activities have created at least two new full-time jobs for resident employees. Meeting these requirements (and providing sufficient evidence that you have done so) will gain you the necessary points needed for further leave, which will be for two years.
Those with leave to enter or remain as Tier 1 (Entrepreneur) migrants are not allowed to work outside the business or businesses they have set up, taken over or joined, and are not allowed to claim public funds.
The number of years for which a Tier 1 (Entrepreneur) must remain in the UK - under the newly relaxed conditions brought in since April 2011 - in order to become eligible for indefinite leave to remain can be as low as three, if the business has created at least ten new jobs in the UK, or can show an income from its activity of at least £5 million.
Otherwise, Tier 1 (Entrepreneur) migrants can apply for indefinite leave to remain after five years – provided they meet the requirements in place at the time of application. If successful they can apply for UK nationality after they have had indefinite leave to remain for 12 months.
The UK Immigration Rules are subject to constant change, so please contact us for further advice and assistance in respect of your application.