At Healys Solicitors our specialist Immigration Lawyers have years of experience in dealing with tier 1 entrepreneur visa. Our dedicated team will be able to guide you through the process and offer a tailored service to fit your needs.
The tier 1 entrepreneur’s visa is a route that enables foreign individuals to obtain residence by setting up or taking over, and being actively involved in the running of, one or more businesses in the UK.
To access the visa you will need to invest £200,000 GBP in cash directly into one or more businesses in the UK. The money must be disposable in the UK and you will have to provide evidence that the money is being held in one or more regulated financial institutions. As the applicant you will also need to meet the English Language requirement (B1 English test) and meet the maintenance requirements.
Once you gain access to the visa you will initially be given 3 years and 4 months of leave to enter the UK. You will then have to register as a company director, or as self-employed within the first 6 months. You will have to invest £200,000 GBP into a UK business either by investing into an existing business or establishing a new business. With the investment you must create at least two new full time jobs for persons settled in the UK in which they must work for a minimum of 12 months. You must also be engaged in business activity at the time of this application for leave to remain (the extension application).
You are able to rely on third party funding in order to raise the £200,000 GBP and this can be from a relative, any other investor and any corporate body. You are also able to raise the funds as a pair of entrepreneurs using the same £200,000 GBP.
Under the visa you will not be permitted to work anywhere other than in the business you have established, joined or taken over (but dependants are free to take any employment). Your investment should not include the value of any residential accommodation or be in property development or property management. Also the investment should not be in the form of a director’s loan, unless it is unsecured and is subordinated in favour of the third-party creditors.
It is possible for a person who is already in the UK in certain categories to switch into the entrepreneur category.
With the entrepreneur’s visa you are able to bring your dependants into the country. These are usually classed as:
You will be entitled to indefinite leave to remain (ILR) if you reside in the UK for at least 185 days per year. You are permitted to leave the UK for up to 180 days per year.
You will be eligible to apply for ILR after five years of residing in the UK. You may apply for accelerated ILR at any point after three years if 10 full time jobs for resident workers have been created with each job lasting for at least 12 months. You will also be able to apply for accelerated ILR if your company has generated a total turnover of £5,000,000 GBP over a three year period.
The experienced Immigration team at Healys Solicitors will prepare and submit your tier 1 entrepreneur visa application (and those of your dependants) from the UK.
We will ensure that all supporting documents are carefully drafted to ensure compliance with UK Immigration Rules and specifically assist your bank and/or third-party funders to produce financial documents that also comply with the rules.
We’ll advise you on the best type of application for your situation and give you the insight you need to make informed decisions along the way. We aim to not only make the process as smooth as possible but to enhance it and improve the chances of your permanent residence application being successful.
We’re a law firm that understands its customers and treats every individual case as something new. We focus on building relationships with our clients to ensure that we can provide them with the best legal representation and advice that we possibly can. With several decades of experience across different aspects of law, including immigration, we believe that we’re in a unique position to offer our clients the best advice available on managing and processing UK visa applications.
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25th March 2020
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28th May 2020
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