The Tier 1 Entrepreneur Visa category allows international businesspeople with between £50,000 and £200,000 in funds available for investment to enter the UK in order to establish or take over a UK business – either exclusively or as a partner. The funds must be held by a regulated institution, such as a bank or venture capital firm, and must be free to spend – not tied up in securities, shares, or similar arrangements.
Tier 1 Entrepreneur visa applications are assessed using a points system, applicants must score a full 95 points to be granted a visa. The following table gives a detailed breakdown of how points are awarded.
Tier 1 Entrepreneur points table
Having access to at least £200,000 of disposable investment funds OR
Having investment funds that are held in a regulated financial institution
Having investment funds that are free to spend
Having access to the required maintenance funds
Meeting the required level of English language proficiency
Tier 1 Entrepreneur applicants must have funds available to support themselves during their stay; the amount of maintenance funds required depends whether the applicant is making an initial visa application, or applying for an extensions. Initial applicants must have funds of at least £3,310, while those applying to extend their visa must have funds of at least £945.
All applicants must have had this amount consistently for 3 months or more.
Length of stay
Up to 3 years and 4 months initially, and up to 6 years and 4 months in total with extensions.
The length this visa can be extended for depends on the applicant's visa status. Those switching to the Tier 1 Entrepreneur visa from another category can extend their visa for 3 years. All others can only extend it for 2 years.
Tier 1 Entrepreneur applicants must provide several documents with their application, these include:
Current passport and/or other travel documents
A separate passport photograph
Proof that they have access to between £50,000 and £200,000 of funds to invest
Their business plan
Proof that they can support themselves financially during their stay, such as bank statements
Proof that they meet the Tier 2 English Language requirements, such as English language test results
A clear tuberculosis (TB) test result letter, if the applicant is from one of the countries on the Home Office's TB testing list, found here (link)
A criminal record certificate from any country they have lived in for more than one year in the past ten years
Other activities and restrictions
Workers on this visa can work for the UK business they are running in a salaried or self employed role, but cannot take another job outside of the business.
Further information, help, and advice
Workpermit.com has been in the immigration services business for thirty years, and have helped thousands of people to study and work in the UK. Workpermit.com and its associated companies are acting under Section 84 of the Immigration and Asylum Act 1999.