Tier 1 – Entrepreneur Visa
For those looking to set up their business in the UK by investing £200,000 or more, either in a new business or an established UK trading business. Property companies will not meet the requirements under this limb.
You can qualify for permanent residence for you and your dependents after five or three years as a Tier 1 Entrepreneur visa/leave holder.
We can assist with the below and most clients often fly in to consult with us before they proceed to make any application.
For the entrepreneur visa it is essential to show the below:
1. Access to £200,000.
The investment funds can be held at a number of recognised and regulated banks in the UK or outside the UK. Some banks may not be recognised as being suitable as UKVI cannot carry out verification checks. We can help here and help identify if this poses a risk.
2. English language requirement.
Entrepreneurs who wish to come to the UK to do business will be expected to meet a minimum level of proficiency in the English language. In order to demonstrate this you must meet one of the below:-
• Evidence that the applicant is a national of recognised majority English speaking country.
• Evidence that the applicant holds a recognised qualification taught in English.
• Evidence that the applicant have passed an English language test by a recognised provider at the required level of B1 or above. This is usually an IELTS course if you are oversees or Trinity college course if herein the UK.
3. Maintenance funds.
You have to show that you are able to maintain yourself and any dependents that will be joining you in the UK. Such funds must be held for at least 90 day with no drop in their own personal accounts, ending no earlier than 31 days prior to the date of application.
Main applicants must show they have held £3,310 for applications submitted outside the UK and £945 for applications submitted within the UK.
Dependent must show £1,890 for applications submitted outside the UK and £630 for applications submitted within the UK.
4. The “genuineness test”.
This is quite topical at the moment.
The Home Office can interview you on your proposed business and test your knowledge in the field and business acumen.
The Migration and Advisory Committee (MAC), an independent, non-statutory, non-time limited, non-departmental public body that advises the government on migration issues, has made further recommendations. In respect of the Entrepreneur route, they recommended in September 2015 that the business plan should be assessed by outside experts This suggestions raises a potential problem with confidentiality, and safeguards may need to be put into place if business plans are going to be released into the same industry as that your client is applying to enter. Some of our clients have already stated they will want to ensure that details of who they trade with and some of their trademarks are not leaked within the industry.
Other changes that were recommended were as follows :–
1. Examination of the applicant’s skills, qualifications and/or previous business history in respect of the proposed business venture,
2. Exploration of the possibility that the business can be scalable with some exceptions being retail/shops, import & export and restaurants industries.
3. Ensuring day to day involvement by the applicant within the business;
4. Introduction of an interim monitoring requirement;
5. A wider range of criteria being used by Home Office case workers during their assessment of the extension application – it is believed by us that this will allow officials to further apply the genuineness test .
A higher rate of refusals are being reported, thus making it essential that a well prepared business plan is provided to detail why the client is buying or setting up a bona fide business, and how the applicant will be involved in the venture.
In October 2015 the criteria used by Tech City UK for endorsing digital technology applicants was revised. Essentially this was to help identify those applicants who will add value to the UK digital technology sector.
After the visa is granted
Once the application is approved, the Tier 1 entrepreneur will need to ensure the following:-
• Invest the entire £200,000 in a new or existing business in the UK within the 3 years.
• Register yourself as a director or self-employed individual within 6 months and at the end of the three years, still be acting as a director or self-employed individual
• Applicants must have hired two new members of staff on a full time basis for at least 12 months within the 3 years. Part time staff can count but more bodies are required to meet this requirement.
After the five years or three years ( fast track route)
After 5 years have passed with a valid Tier 1 entrepreneur, you may be eligible for permanent residence. You can fast track this period
• 3 years if the number of new full-time jobs created is at least 10 or
• If you established a new UK business with an income from business activity of at least £5 million during a 3 year period in which you had leave as a Tier 1 (Entrepreneur) or
• You have taken over or invested in an existing UK business and their services or investment have resulted in a net increase in income from business activity to that business of £5 million during a three year period in which the applicant has had leave as a Tier 1 (Entrepreneur) migrant, when compared to the immediate preceding 3 year period
Applicants can then apply to naturalise in the UK as a British citizen after 12 months on permanent residence.
To qualify for permanent residence, applicants must not have traveled outside the UK for more than 180 days per year over the 5 years.
In order to qualify for British citizenship, applicants will need to show that they have been in the UK for at least 5 years, and that they have not spent more than 450 days abroad over the 5 years and no more than 90 days abroad in the last 12 months prior to application.
We manage your immigration affairs up until you secure your British Passport. We provide a bespoke service to our clients so call us if you wish to proceed under this route.
Call Arona St James Immigration team 020 3757 8670
Where we can help
A detailed review of your circumstances to establish if you qualify.
Pre arrival planning
Application support and assistance with the Immigration rules
Review of your supporting evidence
Review of Financial documents
Assessment of financial investment to be made
Putting in place an action plan for you and your family ( School placement timings and alike)
Applying legal arguments in support – easy to follow for all Immigration caseworkers
Support and assistance to your others experts, bank mangers, business advisors
Priority service and Super Premium Service expertise
Out of hours assistance when required
Monthly status checks
Payment plan available