The importance of submitting a well prepared business plan with your Tier 1 Entrepreneur visa application

Astonishingly, 47% of Tier 1 Entrepreneur visa applications were refused in the first quarter of 2018. A Tier 1 Entrepreneur visa application is usually refused when an Applicant fails to meet the Tier 1 Genuine Entrepreneur Test and fails to show that their investment of £200,000 is ready and available. It is crucial for Applicants to be able to show that their business is both credible and viable. The easiest way to meet this requirement is by submitting a strong application accompanied by a well-prepared business plan. We have a proven method of submitting Tier 1 visa applications which are reflected in our success rate on these applications.         

Who is the Tier 1 Entrepreneur visa application for?

The Tier 1 Entrepreneur visa application is specifically designed for high net worth business people who are looking to set up or take over an existing business in the UK. It is an attractive visa route for non-EEA nationals who have strong business interests and entrepreneurial skills.

The Tier 1 Entrepreneur visa application is a popular Points Based System application governed by the Immigration Rules. The Immigration Rules are always applied strictly on these types of applications by the Home Office. Your application is likely to be refused even if you fail to meet a minor requirement or you are missing a supporting document. According to the Office of National Statistics, there were a total of 241 Tier 1 Entrepreneur visa applications submitted in the first quarter of 2018. Further, a 20% increase was recorded in the number of Tier 1 Entrepreneur visa application when compared with the number of applications submitted in the first quarter of 2017.  41% of the Tier 1 Entrepreneur visa applications were submitted in Asia.

Submitting a well-prepared business plan with your Tier 1 Entrepreneur application visa application

One of the key considerations in submitting a successful Tier 1 Entrepreneur visa application is making sure you are able to show that you are a credible business person. It is also helpful if you can show that you have previous experience as an entrepreneur or have the skills required for your business to succeed. For example, it is likely to be very difficult for you if you are aiming to set up or take over a construction company in the UK but you have no previous experience or academic qualifications to suggest you have an understanding of this particular field. However, this does not mean you cannot apply but it means your application must be near perfect to succeed.

One way of meeting the Tier 1 Genuine Entrepreneur Test is by submitting a well-prepared business plan. The Tier 1 Genuine Entrepreneur Test was introduced in January 2013 to prevent Applicants abusing this visa category. Submitting a well-prepared business plan that is easy to read is essential. However, it is more important for Applicants to understand the content of their business plan in case they are invited for a Home Office interview. Applicants often make the mistake in outsourcing their business plan and have little input. Applicants instruct specialists to prepare lengthy and complex business plans in hope of impressing the Home Office. However, this often backfires when the Applicant is invited for a Home Office interview to discuss the business plan. In the interview, Applicants are not able to answer questions or discuss points in their plans.  We always recommend for our clients to have maximum involvement in the drafting of their business plan and we are able to recommend specialists to assist with this process.

Meeting the financial requirement in your Tier 1 Entrepreneur visa application

Another key consideration in submitting a successful Tier 1 Entrepreneur visa application is being able to show that you have £200,000 readily and available. The funds must also be held for a consecutive 90 day period with the last statement (on the date of submission) dated no more than 31 days. The bank statements must also be submitted in a particular format with a specific letter from the financial institution.  In some circumstances, it is possible for Applicants to invest a sum of the funds prior to the submission of their application. By doing this, Applicants are showing a serious intention to set up or take over an existing business in the UK as a Tier 1 Entrepreneur.

Using Legal Representation to submit a successful Tier 1 Entrepreneur visa application

Legal representatives, such as our specialist immigration and visa law firm, are qualified to advise you on immigration law and your immigration matter. You can instruct one of our immigration and visa legal representatives to successfully assist you with an application to apply for a Tier 1 Entrepreneur visa application. Our solicitors and Barristers will help you comply with the Home Office’s requirements and meet the Immigration Rules.

Caseworkers at the Home Office are trained to reject applications which are improperly prepared, for example by failing to provide the correct supporting evidence. In order to ensure your Tier 1 Entrepreneur visa application succeeds, our solicitors and barristers will ensure all specified documents must be provided.

The UK Immigration Rules are complex and a legal representative can help ensure that your application meets the Immigration Rules.

Successfully submit a Tier 1 Entrepreneur visa application

Our team of solicitors and barristers are specialist immigration lawyers who act in your best interest. We offer a client-tailored approach from the outset. From the very first meeting, we will be able to advise you in respect of your prospects of submitting a Tier 1 Entrepreneur visa application before your application even reaches the Home Office UK Visa & Immigration department. We can assist you with the preparation and submission of a Tier 1 Entrepreneur visa application and ensure that you meet all the requirements of the relevant rules.

We are based in the legal epicentre of London, just across the road from the Royal Courts of Justice in order to ensure we get the best results for our clients.  We are minutes away from the Immigration and Asylum Tribunal, the Royal Courts of Justice and other central London courts.

Preparation is the key to successful immigration applications. Our UK immigration and visa solicitors are here to guide you through the complex immigration rules and requirements. If you wish to meet one of our lawyers, please call our Immigration Team so we can assess your case and arrange your legal consultation to discuss a Tier 1 Entrepreneur visa application.

Contact our London immigration solicitors on 02071830570 or complete our contact form.

 

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