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.

 

Eligibility

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:

 

  • held in one or more regulated financial institutions
  • free to spend (‘disposable’) on business in the UK

 

You should be able to provide evidence that the funds are either:

 

  • your own
  • or made available to you by other people (‘third parties’) such as a spouse, partner or investor – DNS can help you find a partner or investor to help you with this requirement
  • or in a joint account with your spouse or partner but only if they aren’t applying for a Tier 1 (Entrepreneur) visa

 

You must also:

 

  • provide business plan – this is the second most important requirement after funds. You must submit a detailed business plan with your application explaining you proposed business in the UK. DNS Associates can prepare a detailed business plan for you as we have successfully done for many clients over the past several years
  • provide proof that you meet the English language requirement
  • provide evidence that you could support yourself during your stay. This can be done by showing least £3,310 in your account for at least 90 days if you are applying from outside the UK.
  • provide tuberculosis test results if you’re from a country where you must take the test
  • provide criminal record certificate(s) from each country you lived in for 12 months or more in the last 10 years
  • submit application at the visa centre - Once you have all the documents, you must book and appointment online and submit your application at the visa centre. (Our partners can do this for you as well.) It is highly likely that there will be an interview as well where they ask you about your business proposal. More than half of applications in this category get the outcome within 3 weeks (15 working days). In some cases, it may take longer.