As with every other category of Tier 1 visa, while applying for entrepreneur visa UK, you do not require a sponsor to accomplish this and you can apply from both within or outside the UK. However, you need to meet certain requirements in order to successfully get Tier 1 entrepreneur visa. This is precisely where our experienced UK immigration lawyers can help.
Requirements for Tier 1 Entrepreneur Visa
The applicant must set up or take over an enterprise in the UK. The initial investment must be at least £50,000 if the funds are provided by a Government Department, venture capitalist or seed competition. This funding cannot accommodate more than two business partners. If you do not meet this requirement but still want to apply for entrepreneur visa UK, you can do so by making an investment of at least £200,000. In any case, you need a total of 95 points to qualify for tier 1 entrepreneur visa.
Tier 1 Entrepreneur Visa Points Explained
- 25 points if the applicant complies with the funds conditions mentioned above.
- 25 points if the funds are held in 1 or more regulated financial institutions.
- 25 points if the funds are disposable (free to spend) in the UK.
- 10 points if applicants are proficient in English language. They can accomplish this either by passing an English test equivalent to Council of Europe's Common European Framework for Language Learning Level C1 or if they have come from a country in the world where English language is spoken by a majority of people, or even if they possess a degree where the medium of instruction is English.
- 10 points if you can prove that you can support yourself. This is, in fact, essential for entry clearance, and applicants must show that they can sufficiently support themselves. To qualify for entry clearance applicants must have more than £2,800 as personal savings, and they must have possessed this money for a period of at least 90 days before the application date. If applicants are residing in the UK and they seek further leave, they must have more than £900 as personal savings.
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