A recent Global Entrepreneurship Monitor (GEM) Global report 2017/18 on entrepreneurial attitudes across the world has highlighted that the UK’s Hostile Environment policy may threaten the future of high net worth immigration to the UK, specifically Tier 1 Entrepreneurs.
What are the key findings of the report?
The GEM Global report 2017/18 from Aston University has recently been updated and its’ 2017/18 findings which could be seen as a potential threat to Tier 1 Entrepreneurs in the UK. GEM measures of entrepreneurial attitudes, activity, and aspirations in the UK and elsewhere and is the largest single study of entrepreneurial activity in the world. The GEM report found that while 12.9 % of recent immigrants to the UK could be classed as early-stage entrepreneurs last year, only 8.2 % of British nationals fell into the same category.
Is the UK’s Hostile Environment Policy threating to Tier 1 Entrepreneurs?
The report’s authors have said that the study has warned that the government needs to ensure that its’ hostile immigration policies do not undermine the UK economy, by preventing potential Tier 1 Entrepreneurs from coming to the UK. Tier 1 Entrepreneurs make big contributions to the fortune of the UK, by growing new businesses and therefore creating more jobs. This is especially important in the light of Brexit as the UK needs to ensure it remains an attractive place for foreign entrepreneurs.
Jonathan Levie, a Professor at the Hunter Centre for Entrepreneurship at Strathclyde University has said that:
“The reasons for the high levels of early-stage entrepreneurship among immigrants in the UK are complex, but the evidence suggests that a family business background, cultural attitudes and educational achievement all play positive roles”.
“Perceived discrimination and lack of recognition of foreign qualifications in the labour market may also make a difference, but it’s notable that the vast majority of people who become entrepreneurs in the UK do so out of opportunity, not necessity”.
Therefore, it is in the best interests of the UK to relax its Hostile Environment policies in respect of Tier 1 Entrepreneurs in order to ensure the continuity of high net worth non-EEA individuals adding to the UK’s economy.
Who are Tier 1 Entrepreneurs?
Tier 1 Entrepreneurs refer to high net worth individuals from non-EEA countries, who hold a Tier 1 Entrepreneur visa under the Points-Based System (PBS). The Tier 1 Entrepreneur visa allows business people to come to the UK to establish or take over an existing business in their specialist field. When considering Tier 1 Entrepreneur visa applications the Home Office apply the Immigration Rules strictly with little room for flexibility. It is important to note every requirement must be met with sufficient documentary evidence. Successful Tier 1 Entrepreneurs will have earned a total of 90 points:
- 75 points for Attributes;
- 10 points for Maintenance; and
- 10 points for the English language.
Tier 1 Entrepreneurs must show a genuine intention to establish or take over an existing business in the UK. They must also demonstrate that they have £200,000 readily and available to invest. The funds must have been held in the Applicants name for a consecutive 90 day period and must be held in a regulated financial institution. Tier 1 Entrepreneurs must satisfy the Genuine Entrepreneur Test and have a solid business plan that they know inside out.
What is the importance of submitting a well-prepared Tier 1 Entrepreneur Visa application?
In the first quarter of 2018, the Home Office refused an astonishing 47% of Tier 1 Entrepreneur Visa applications. The main reason for a Tier 1 Entrepreneur visa to be refused is when the Applicant fails to demonstrate that they are a genuine entrepreneur and that their £200,000 investment is readily available. Tier 1 Entrepreneurs must show that they have both a credible and viable business. The easiest way to meet this requirement is by submitting a strong application accompanied by a well-prepared business plan. LEXVISA Immigration Solicitors and Barristers have a proven method of submitting Tier 1 visa applications which are reflected in our success rate on these applications. Furthermore, having an application refused adds to an Applicant’s adverse immigration history, which can make it difficult for future applications to be successful, even though each application should be decided on its own merit. The cost of appealing a decision can also be great, as well as time-consuming. Contact our team today to schedule a consultation with our solicitors to discuss your options.
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. 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.
Successful Tier 1 Entrepreneur Visa applications
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.