On the 31st January 2013 the UK Border Agency  introduced changes to the Tier 1 (Entrepreneur) visas. In its attempt to improve the effectiveness and tackle the abuse of the system, the UKBA has introduced the changes which make it more difficult for overseas entrepreneurs to start their businesses in the UK. The proposed changes are applicable to all Tier 1 (Entrepreneur) applications that have not yet been decided and apply to applicants who seek entry clearance or leave to remain in the UK as a Tier 1 (Entrepreneur) migrant for the first time.
Changes to the Tier 1 (Entrepreneur) Visa
The following are some changes:
- The introduction of a ‘genuine entrepreneur test’ which, it is intended, will allow UKBA caseworkers to test the credibility of suspicious applicants; and
- A requirement that the necessary minimum funds for the application are held or invested in the business on an on-going basis, rather than solely at the time of application.
- The viability and credibility of the applicant’s business plans.
- The applicant’s previous business experience and education
- Â The applicant’s immigration history and
- Â Any other relevant information.
The full Statement of Changes can be viewed here.
What should you do?
Lexvisa is an established firm based on the heart of London. We have a dedicating team of solicitors who have a wealth of experience in assisting with Tier 1 Applications. Our experts in tax, employment and immigration offer bespoke advice and guidance to help you in the process of investing in the UK. We can reduce unnecessary risk from rejected visa applications  by ensuring that all necessary steps are taken and taken with care; this will in turn cut down unnecessary costs and time.
Our Immigration Experts are able to give specialist legal information and advice in this area of law. To contact one of our Solicitors or Barristers please click here to complete a legal case assessment or telephone 0845 8622 529.