04 Jul How do you qualify for a Tier 1 Entrepreneur visa to the UK?
Attracted by enormous business opportunities in the UK and Europe, more and more migrants wish to enter the UK for investment. The Tier 1 Entrepreneur category under the Points Based System of the Immigration Rules is for those migrants who are willing to invest in the UK by setting up or taking over and being actively involved in the running of one or more businesses in the UK.
In order to qualify for a Tier 1 Entrepreneur visa, applicants are required to score at least 95 points in total:
- Applicants must have access to at least £200,000 investment funds – 25 points;
- The money is being held in one or more regulated financial institutions – 25 points;
- The funds are disposable in the UK – 25 points;
- Meet the English Language requirement for at least Level B1(speaking, listening, reading and writing) – 10 points;
- Applicants must have held cash savings of at least £3310 for at least 90 days in addition to the investment funds in order to meet the maintenance requirement – 10 points.
In addition, the applicant might need to undertake a TB test depending on the country of nationality or habitual residence as well as provide a criminality record covering the last 10 years if applying for an entry clearance.
The business plan is particularity vital to the successful outcome of an application since the entry clearance officer will need to be satisfied that he or she is a genuine entrepreneur.
If you are currently concerned about applying for a Tier 1 entrepreneur visa to invest or settle up your own business in the UK and wish to contact us for advice, please email us at [email protected]