The Tier 1 Entrepreneur Visa category allows international (outside the European Economic Area (EEA) and Switzerland) business people with access to £200,000 (in some cases £50,000), available for investment, to enter the UK to establish or take over a UK business – either exclusively or as a partner.
The earliest visa can be applied is 3 months before the travel date and it normally takes around 3 weeks for the decision on visa. Entrepreneur visa allows maximum stay of 3 years and 4 months initially and for another 2 years if you’re already in this category. Individuals may be able to apply for settlement (known as ‘indefinite leave to remain’) once they are in the UK for 5 years.
You must have access to at least £200,000 (£50,000 in some special cases) investment funds to apply for a Tier 1 (Entrepreneur) visa. Your funds must be:
You should be able to provide evidence that the funds are either:
You must also:
Other activities and restrictions
Workers on this visa can work for the UK business they are running in a salaried or self-employed role, but cannot take another job outside of the business
For dependents: There is no restrictions on employment for dependent of Tier-1 (Entrepreneur) holder except that a dependent cannot work as a professional sportsperson (including a coach) and there are some specific requirements to work as a Doctor or a Dentist.
Support & Advice
DNS Associates have been helping its customers for the past 7 years and have helped 100s of people to get entrepreneur visa. We at DNS Associates could help our customers with all the key requirements (Funds and Business Plan) mentioned above. We can provide both the access to funds and well written business plan.
Apart from the above, we can also help you with the following once you arrive in UK post your visa approval:
- Business setup: DNS fully takes care of your business set-up. We register your company, help you setup a bank accounts, help you buy relevant insurances. It usually takes 2-3 working days.
- DNS can also help you on more practical side of your business set-up. We can help you find a suitable office to start your business. If your business requires other premises such as a
- Running the business: Once the company is set, we manage your accounts, run payroll and file tax returns as and when required throughout your business life. DNS Accountants manage accounts for over 4000 business in the UK.
Note: please be aware that the above information reflects our interpretation of the existing rules which are subject to change. Also, this is not an exhaustive information. The requirements may change depending on your personal circumstances.
Please get in touch for more information