UK Entrepreneur Tier1 Visa—Major Benefits & Requirements

If you are a non-European business professional, overseas immigration inspired, and interested in starting your own business venture in the UK, then UK Entrepreneur Tier1 Visa is highly recommendable for you.

UK Entrepreneur Tier1 Visa

The category is famous among those who are looking for an opportunity to settle permanently in the nation. Interested candidates can get a Tier1 Visa within weeks by making an investment of 50,000 to 200,000 British Pounds in a business venture in the country and this is a win-win situation for the candidate.

UK Entrepreneur Tier1 Visa is basically a point based programme and ideal for non-European citizens who wish to invest in a business venture and wish to live and work in the country indefinitely. Initially, the candidate is granted a visa for three years and four months with a possibility of further extension of two years.

An applicant may apply for the Permanent Residency (PR) once he has lived in the country for at least three years. Under the visa, the primary applicant may bring along his family members–spouse and children below the age of 18.

UK Entrepreneur Tier1 Visa—Major Benefits

The visa offers several advantages to the lucky holders.

  1. To begin with, the visa holder will be in a position to work and reside anywhere across the nation.
  2. He can bring his family to the nation, and this comprises his other half and any kids under 18.
  3. His kids have access to the nation’s educational system, and his family has access to the country’s well-known and widely used NHS 100% free healthcare arrangement.
  4. He can run his own firm in the nation and in London especially which is a top global business district. With the perfect idea and backing, the holder’s business may develop fast.
  5. The visa holder can submit an application for the prized permanent residency inside 5 years.

UK Entrepreneur Tier1 Visa–Primary Requirements

  • The candidate must be willing to invest at least 50,000 to 200,000 Pounds in a one or more business venture in the UK.
  • He must hold the position of a director in a business in the nation.
  • To qualify, he must score at least 95 points.
  • He must be fluent in English Language, and must have a score of at least 6 bands on the International English Language Testing System (IELTS).
  • He must be financially strong to support self and his family members.

If you are willing to invest 200,000 Pounds then following are the criteria:

  • You have at least one company duly recognized by the Financial Services Authority.
  • You have valid grant from one or more government or governmental departments in the country

Or

One or more than one funding competitions endorsed in the country’s trade and investment website

If you are willing to invest 50,000 Pounds, then following is the criteria:

  • You have intention to live in the country permanently.
  • Within the last three months you have been registered as a self employed or a company director with Majesty’s Revenue & Customs.
  • Have been granted permit to live and work in the country under Tier 1 (Post study work) category.
  • You are involved in a business activity that is mentioned on the National Qualifications Framework level 4 or higher.

Dos and don’ts under the category

  • You can start or over take an existing business venture; it could be one or more within the UK.
  • You will have to actively participate in running the business venture.
  • You can bring along your family members.
  • You can switch over the category as per your requirement.
  • If required, you can extend your duration of stay in the nation.
  • You cannot work outside your business venture, for example, you cannot be employed by a UK employer.
  • You are not eligible to take public funds.

Summary: UK Entrepreneur Tier1 Visa is highly recommendable for non-European Citizens who are interested in either stating a new business venture or over take an existing one in the nation. Interested candidates may involve themselves either in one or more than one business venture.

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