Tier 1 (Entrepreneur) Category
The UK welcomes Entrepreneurs to the UK, to start new businesses, or to invest in existing businesses. The Tier 1 (Entrepreneur) Scheme can lead to permanent residence rights in the UK and ultimately to the potential to apply for British citizenship.
- Under the main scheme, an Entrepreneur is required to prove that he or she has £200,000 available to bring to the UK to invest in a new or existing business.
- The £200,000 investment can be shared between two individuals, providing they have equal access to the funds and are investing in the same business or businesses.
- There is an additional scheme for an Entrepreneur to come to the UK on the basis of £50,000, provided that this is funded by either:-a) A registered venture capital firm regulated by the FSA;
b) Through one or more entrepreneurial UK seed funding competitions endorsed by UKTI;
c) By a UK Government Department for the purpose of establishing or expanding a UK business.
- The applicant must pass the Tier 1 English language test, or be a national of an English speaking country, or have an accepted English language Degree qualification.
- The applicant must show the required maintenance.
- The initial visa is granted for a period of three years and four months.
Extension of Stay and Indefinite Leave to Remain
- At the end of the initial visa, the Entrepreneur will be granted a further two years to remain in the UK and will be entitled to apply for indefinite leave to remain at the end of five years of residence provided he has met the conditions of the visa.
- Under certain circumstances an Entrepreneur will be eligible to apply for accelerated indefinite leave to remain at the end of the first three years of residence.