People from outside the UK, EEA and Switzerland can apply for the Tier 1 Entrepreneurial Visa. You should typically apply three months before your intended date of travel as processing can take some time.
The Visa generally lasts for three years and there’s the option of extending it to another two years if you are in the same Visa category. This Visa allows you to start a new business in the UK.
There are certain conditions that must be met. For example, you need a level of investment funds, typically from £50,000 to £200,000 to be eligible. You also need to fulfill language requirements and be able to support yourself or any family members that you bring to the UK.
Requirements include the following.
- Show funds of £200,000, or the GBP equivalent available for investment in the UK, (or has been invested in a UK business; however, you have to meet the relevant requirements of Immigration Rules)
- The applicant must show that funds were acquired lawfully and belong to the Applicant or a third party who must confirm the advancement of funds for the business purpose.
- The funds must be kept at a regulated institution.
- If the funds are held abroad, they should be freely transferable to the UK for investment.
- Through the production of a business plan, the genuine and viable nature of the business investment.
- English language proficiency to at least CEFR Level B1.
Our immigration solicitors can help you assess the eligibility for this visa category and assist in filing the application. Get in touch with us to find out more or start your Visa application process.