Tier 1 Entrepreneur Visa
The Tier 1 Entrepreneur Visa route was established for individuals who wanted to invest in the United Kingdom by setting up or taking over, and being actively involved in the running of one or more businesses in the country.
This category closed to new applicants on 29 March 2019. However it remains open for applicants who have held Tier 1 (Entrepreneur) or Tier 1 (Graduate Entrepreneur) leave in the past 12 months or who would like to switch to this category from Tier 1 (Graduate Entrepreneur).They must do so by5 July 2021.
Amongst other requirements, a Tier 1 (Graduate Entrepreneur) switch needs the applicant to have access to at least £50,000 from an approved third party funder. The money must be disposable in the UK business.
A Tier 1 Entrepreneur Visa is initially granted for up to three years and four months. After this initial period, depending on the performance of your business and provided you meet the Tier 1 Entrepreneur Visa extension requirements, you may extend your leave to remain in the UK by a further two years. After this time you may apply for Indefinite Leave to Remain for permanent residency in the UK, if you satisfy the conditions. Extension applications for Tier 1 (Entrepreneur) migrants will remain open until 5 April 2023, and settlement applications until 5 April 2025.
In order to be granted an extension, during the period of your initial visa validity, you should:
- Ensure that you make the full investment, which can be by loan;
- Be registered as a director or as self-employed no more than six months after they date you were given permission to stay in the UK under the Tier 1 (Entrepreneur) visa;
- Be able to prove that you have been self-employed or working as a director three months before you apply; and
- Have created the equivalent of at least two new full-time jobs for EEA (European Economic Area) nationals, each lasting at least 12 months.
Tier 1 (Entrepreneur) Visa holders are also able to settle in the UK more quickly if they create at least 10 new full-time jobs or achieve a turnover of £5million in a 3 year period.
Please contact us to speak to our specialist immigration advisors to avoid unnecessary expenses and ensure your Tier 1 Entrepreneur Visa has the best chance of success.