Please note, this visa is no longer available. It has been replaced by the new Innovator Visa.
What is a Tier 1 Entrepreneur Visa?
Effective April 6, 2015 – If you are currently a Tier 1 Entrepreneur Visa holder seeking to extend your stay in the UK, you now have to prove to an Immigration Officer that you are a genuine entrepreneur, as well as meeting the standard visa requirements.
The Tier 1 Entrepreneur Visa is granted to overseas nationals outside of the European Economic Area (EEA) who want to start or run an established business in the UK and who meet the eligibility requirements.
The eligibility requirements are different depending on whether you have access to £50,000 or £200,000, but you must have a minimum of £50,000 in investment funds to qualify.
Who is suitable for a Tier 1 Entrepreneur Visa?
- Persons with access to £50,000 or £200,000, which is registered with a recognised UK financial institution
- Persons with a Post-Study Work Visa looking to switch to a Tier 1 Entrepreneur Visa
- A current Tier 1 Entrepreneur Visa holder applying for an extension
What are the requirements for a Tier 1 Entrepreneur Visa?
You need a score of 95 in accordance with the UK Points Based System. You are given points based on meeting the following criteria…
- Your funds must be held in one or more regulated financial institutions
- Those funds must be free to spend (disposable) on business in the UK
- You must satisfy English language requirements
- You must be able to support your stay in the UK
- You must be at least 16 years old
- You must prove that you’re a genuine entrepreneur
Common questions asked about the Tier 1 Entrepreneur Visa
Do I need a sponsor?
No, a sponsor is not required for a Tier 1 Entrepreneur Visa.
How long can I stay in the UK?
The Tier 1 Entrepreneur Visa is granted for a maximum of 3 years and 4 months, initially. You may be eligible to extend your visa by a further 2 years if you’re already in this category or a further 3 years if you’re changing to this visa from another category.
When can I apply for Indefinite Leave to Remain?
Once you’ve been in the UK for 5 years, you can apply for Indefinite Leave to Remain.
Can I bring my family?
Yes you can bring dependants to the UK on this visa. If you have family members outside of the European Economic Area (EEA), they will require a visa.