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The UK Tier 1 Entrepreneur Visa: All you need to Know

Added: (Tue Jan 29 2019)

Pressbox (Press Release) - What is a Tier 1 (Entrepreneur) Visa?
The Tier 1 (Entrepreneur) Visa category allows you to set up or take over the running of a business with funds available between £50,000 and £200,000 for investment to enter the UK.
You are able to work for your own business as a self-employed individual, provided the work meets the criteria for being self-employed.
Such applications are assessed using a points system where the applicants are required to score a full 95 points to be granted this visa. These points’ requirements are calculated on the basis of factors like investment funds, language skills, and maintenance funds.
A credible business plan is also to be provided and demonstrate that you are a genuine entrepreneur.
Through a Tier 1 (Entrepreneur) Visa route, the UK is encouraging non-EEA nationals to consider entrepreneurial opportunities within the UK.
You are granted this visa to stay in the UK for a period of 3 years and 4 months and further extend it to another 2 years. You may be able to apply for settlement once you’ve been in the UK for 5 years. You can also bring family members and dependents with you.
Who is eligible to apply for the UK Tier 1 Entrepreneur Visa?
A person who is above 16 and who meets the following requirements is eligible to apply under this category.

Access to £200,000 (which can be your own funds or from a third party)
Can have 2-3 sponsors that are ready to invest
Partner with another individual and show a combined net asset value of £200,000
Have funds in a regulated bank or a financial institution
Clears the Genuine Entrepreneur Test
Meets the English language requirements either with IELTS for UKVI (with 4 in each band) or a UK NARIC assessment for qualification and English Language Equivalency for a recognized Bachelor’s degree
Fulfills the maintenance requirements
Provide all the mandatory specified evidence

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