Interpreting UK Tier 1 Visa for Entrepreneurs
The UK is an extremely popular country, people from all over the world wish to make it their second home. The immigration hotspot offers enormous opportunities to skilled immigrants even as investors see it a profitable destination to invest their hard-earned money.
Therefore, if you are an entrepreneur you should use the UK Tier 1 Visa. In spite of the recent European economic slowdown, the country has given positive indications to entrepreneurs to come and invest in the country.
Now let’s know in detail about the UK Tier 1 Visa for Entrepreneurs!
Meant for non EU citizens, the category provides an opportunity to invest in the country and acquire Permanent Residency (PR) straight away. The category is applicable to the applicant’s immediate family members as well as spouse and children below the age of 18.
To make sure only the best talent gets an opportunity to settle in the country, starting from April 2015 it is compulsory for the prospective immigrants to attach their business plan with their Tier 1 visa application.
Aspirants may either start a new business venture or overtake an existing venture in the UK. They are also permitted to involve themselves in more than one business mission at a time. However, the applicants are required to involve themselves in day-to-day business activities.
UK Tier 1 visa for Entrepreneurs is a point based category and ideal for those prospective immigrants who wish to gain UK PR and have 50,000 or 200,000 Pounds to invest in the nation. In the beginning, a visa is issued for three years and four months exactly. If you further meet the set criteria, you may extend the duration by submitting a separate application.
UK Tier 1 Visa—Requirements
- Along with innovative business plan, the applicant must have 50,000 or 20,000 Pounds to invest in one or more than one business venture in Britain.
- The applicant must score 95 points on the points- grid.
- The candidate must be the director of the proposed business venture.
- He must actively participate in everyday business activities.
- He must have enough capital to support his stay in the UK including the stay of his family members.
- He must be well versed in English Language–both written and oral.
- He must be able to create at least two permanent jobs either for UK Permanent Residents or Citizens.
- He must have the authority to take the decisions related to his business.
To live and work in the nation is the dream of millions. Tier 1 Entrepreneur Visa gives an easy opportunity to those who wish to live their immigration dreams in reality. The category provides an easy opportunity, especially to young talent.
Besides, like other visa categories, applicants do not have to go through the tough process of meeting multiple requirements. Not much importance is given to an applicant’s prior work experience neither he is asked to meet the education qualification.
Raw talent with enough capital is welcome to use their business skills and contribute towards the nation’s economy.