The UK is one of the leading business locations in the world; its proximity to Europe makes it a natural choice to locate for entrepreneurs coming from outside the EU and it is home to London, the world’s leading financial centre. The UK’s Points-Based System caters for those wishing to invest in a business in the UK by way of an Entrepreneur visa.
If you are a high net worth individual who wishes to come to the UK on an Entrepreneur visa, our expert business immigration team can assist you with your queries and assist you in the preparation of an application to the Home Office. We can guide you step by step and ensure that you submit a properly executed application with the requisite documents which confirm that you meet all the requirements of the relevant Immigration Rules.
Eligibility for Entrepreneur Visa
The Tier 1 UK Entrepreneur Visa category of the Points-Based System category is for those investing in the UK by setting up or taking over and being actively involved in the running of one or more businesses in the United Kingdom (UK). Applicants can apply for an Entrepreneur visa using money of their own, money in a joint account with a spouse/partner or money from a third party.
In order for your application to be successful, you must meet certain criteria which can be found in complex guidance from the Home Office, Immigration Rules and regulations. Generally, applicants must provide evidence that they have access to at least £200,000 in investment funds but they can also rely on a previous investment of £200,000 but this amount must have been invested in the last 12 months before the application.
Applicants can apply from abroad but there are certain circumstances where applicants can “switch” from an existing category. Our expert immigration solicitors regularly assist applicants in the UK who wish to switch to a Tier 1 Entrepreneur visa from other categories such as Tier 1 Investor, Tier 2 and Tier 1 Graduate Entrepreneur. However, there are some restrictions which may make switching difficult in certain circumstances.
Genuine Entrepreneur Test
Our expert immigration solicitors regularly consult with clients who are unsure of whether they meet the Home Office’s ‘Genuine Entrepreneur Test’. All applicants making initial applications must among other things, be able to provide sufficient evidence that they genuinely intend and are able to establish, take over or become a director of one or more businesses in the UK within the next six months and they genuinely intend to invest the money in the business.
These are just some of the requirements the Home Office must be satisfied of; our legal experts are well versed in the Immigration Rules and have extensive experience in preparing applications for entrepreneurs. Our team are on hand to meet with you and advise you of whether you meet the eligibility criteria in this regard and if instructed can assist you in the preparation of your application.
Entrepreneur Visa Extension
If successful, you will be granted with leave for 3 years and 4 months and will have the opportunity to extend your visa for another 2 years thereafter.
To be eligible for an extension to a Tier 1 Entrepreneur Visa the following criteria must be satisfied:
- Applicants must have invested, or had invested on their behalf, a minimum of £200,000 / £50,000 in a UK business.
- Applicant must, within six months, have registered with HMRC as a self-employed person, registered a new UK business with the applicant as a director or registered as a director of an existing UK enterprise.
- At the time of the extension application, the candidate must be engaged in activity within this business.
It is also a necessary requirement when applying for a Tier 1 Entrepreneur Visa extension that the applicant can demonstrate that they have created positions of employment for people with UK settled status. For a new business this means that an aggregate of two positions, full time or equivalent, must have been created with each lasting for at least one year.
In cases where an applicant has taken control over an established UK business, their investment and presence in the company must have created two positions similar to those outlined above.
Immigration Health Surcharge (IHS)
The Immigration Health Surcharge (IHS) was introduced by the Home Office on 6 April 2015 and applies to temporary, non-EEA migrants who are coming to the UK for more than 6 months. Payment for IHS is collected by the Home Office and goes directly to the National Health Service (NHS).
If instructed, our team of expert lawyers can consider whether you will need to pay the IHS. If you wish to consider your options, please contact our team today and arrange a meeting with a qualified immigration solicitor who can advise you of your options.
Expert Immigration Solicitors for High Net Worth Visa Applicants
If you wish to consider your options of applying for a Tier 1 Entrepreneur visa, please contact a member of our business immigration team who will arrange for you to meet with a qualified solicitor who can explore your options with you.
We are a UK law firm based in Middle Temple, London and our solicitors are fully authorised by the Solicitors Regulation Authority (SRA). Contact our professional business immigration team today and we can offer you a consultation in person or via telephone or Skype so we can explore your options. You can leave us a message on our Contact Form or give us a call on 02071830570.