The government’s intention behind the entrepreneur visa is to promote UK business competitiveness, and to focus on promoting business activity, which in turn benefits the local economies.
The Tier 1 (Entrepreneur) visa route under the Points Based System of the Immigration Rules allows individuals to come to the UK to either set up or invest in an existing business. The entrepreneur visa allows investors to stay for 3 years and 4 months, with the opportunity to apply for IRL (indefinite leave to remain) after 5 years in the UK.
The Tier 1 Entrepreneur Visa could be an attractive option for applicants who would like to invest in the United Kingdom by setting up, investing in or owning a business. Should you be considering this route, here are the major areas to consider.
You have access to £200,000 investment funds and can prove that the money is either:
- Your own
- Made available to you by a third party, for example, husband, wife, partner or investor
- Held in a joint account with your spouse or partner, but only if they aren’t applying for the same visa
In addition to having access to investment funds, you must be at least 16 years old, capable of supporting yourself during your stay in the UK and meet the English language requirements.
This visa falls under UKVI’s points-based applications; you must score at least 95 points on their calculator to be eligible.
Successful applicants are able to bring a partner, children under 18 or children over the age of 18 if they are already in the UK as dependants.
Genuine Entrepreneur Test and Business Plan
Satisfy the “genuine entrepreneur” test, by demonstrating to the UK Visa and Immigration authorities that you are genuinely intending to establish or invest in a UK business and make the required investment of the funds. It is a legal requirement to produce a comprehensive business plan in support of the Tier 1 Entrepreneur visa application. Applicants may be called for interviews to discuss their business experience, the business plan’s viability, and other pertinent details.
You may be considering a move to the UK under the investor visa or you may already be here. Business Navigation Services (BNS) can help you understand your options, provide you with comprehensive advice on the visa and guide you through the application process with the help of our immigration solicitors.
Whether you intend to use an immigration solicitor or prepare your own case, BNS can help you create a comprehensive, convincing and coherent business plan that can maximise your chances to successfully clear the mandatory “Entrepreneur Genuineness Test” with relative ease.
Alternatively, if you are seeking an end-to-end business consultation and plan writing support, BNS will take your business idea, refine it, and work closely with you to produce an impactful business plan.
BNS have a portfolio of businesses seeking investment that may be suitable and qualify under the Tier 1 Entrepreneur visa route.
We recommend setting-up an introductory 1-hour meeting (face to face or by phone or Skype) and invite you to leave your details below. Schedule a Call