Most Frequently Asked Questions
Who can qualify for Tier 1 Entrepreneur Visa?
Those who want to establish and expand business in the United Kingdom can apply for the Tier 1 Entrepreneur Visa. The applicants must meet the eligibility criteria, and they must belong to some non-European Economic Area.
What are the eligibility requirements for Tier 1 Entrepreneur Visa?
If you want to apply for Tier 1 Entrepreneur Visa to the UK, it is essential to know that your eligibility Tier 1 Entrepreneur Visa depends on a points-based assessment. Besides, you must have at least £200,000 funds that you can freely invest in the business in the United Kingdom. Moreover, your these funds must be held in some regulated monetary institutions.
In addition to the availability of sufficient funds, the applicants
• Must have good English language skills
• Must not be less than 16 years of age
• Must acquire a minimum of 75 points on the assessment system
• Must possess enough maintenance funds for supporting your stay in the UK
How can I apply for the Tier 1 Entrepreneur Visa if I don’t have sufficient funds?
If you don’t have enough funds needed for applying to get an Entrepreneur visa, you can consider the option of forming an Entrepreneurial Team. You can make the team with another Tier 1 Entrepreneur Visa applicant for sharing the same funds for investment. You along with the team will have to meet all the eligibility requirements. Besides, you will have to submit all the needed evidence for the availability of funds with your application. Remember that you are not allowed to use the same funds with some other Entrepreneurial Team.
Am I allowed to switch to Tier 1 Entrepreneur Visa If I have been granted a visa in some other category?
You can apply for switching to Tier 1 Entrepreneur visa only if you meet the eligibility criteria. Besides, you must be present in the United Kingdom through any one of the below-mentioned categories.
• Business person
• Investor
• Lawyer (self-employed)
• Highly Skilled Migrant Program
• Tier 1 Investor
• Tier 1 General
• Tier 1 Graduate Entrepreneur
• Tier 2
• Work permit holder
• Prospective Entrepreneur
• Fresh Talent
• Innovator
• Artist, composer, writer
How much do I need to pay for the Tier 1 visa application?
The total amount that you need to pay for the application of Tier 1 visa depends on multiple factors. Where you live, for whom you are applying and how you are applying determines the total cost.
If you are applying for yourself via post or online, you will have to pay £1,180, and if you are applying outside the UK, the cost will be £944. However, if you are a resident of Macedonia or Turkey and applying online, the fee will be £1,125, and in case of applying outside the UK, the total charges will be £899. Moreover, if you are applying via post or online for the dependents, the fee will be £1,180 for every individual and the cost will be £944 for every person if you apply in person outside the UK.
For how long, the Tier 1 visa will permit me to stay in the United Kingdom?
If you have been granted a Tier 1 visa, you are allowed to stay and work in the UK for a total duration of 3 years and 4 months. Near the end of the permitted time, you can apply for the visa extension which will allow you to live there for another 2 years. However, if you are switching from some other visa category, you can get to stay for 3 more years. Besides, after the completion of your 5 years in the United Kingdom, you can easily apply for settlement in the UK.
What documents do I need to submit with my Tier 1 visa application?
When you apply for a Tier 1 visa, the following documents must be provided with your application.
• An authorized travel identification with a double sided blank page for visa attachment or a valid passport
• A colored photograph in passport size
• A business plan
• Evidence of available investment funds
• Proof of availability of sufficient maintenance funds
• A proof of your acceptable English language skills
• Test reports of Tuberculosis (only if it is necessary in your country)
• A certificate of Criminal Record (from the state where you have resided for at least 12 months in the past 10 years)
If any of the documents mentioned above is not in Welsh or English Language, you will also have to provide the certified translation of that doc.
What evidences do I need to provide for showing the availability of required funds with my Tier 1 visa application?
Following is the list of evidence that can be sufficient for proving your availability of required funds.
• A letter from every regulated financial institution that is holding your funds is needed.
• If the money is contained in the UK, you will have to provide either a building society statement or present bank statement from the financial organization holding your funds.
• For the funds that a venture capital firm has provided, a letter issued by the accountant is needed for confirming the availability of funds.
• For the funds provided by the Government department of the United Kingdom, an authorized official statement or a letter by the accountant is required that can confirm the availability of needed funds.
If funding is from some third-party (other than a UK entrepreneur), consult the company. Besides, if you have had sufficient funds for less than 3 months before the submission of application, you will have to provide the following documents.
• A formal letter by a lawyer or legal representative for endorsing the declaration signatures
• A confirmation statement that the funds are available and you can invest them in business in the UK.
You will also have to prove that you have enough maintenance funds for supporting your stay in the UK. Depending upon where the applicants apply from, they must possess a certain amount of personal savings in the account. For instance, if you are applying outside the UK, you must have at least £3,310. However, in case of applying in the UK, you only need to have £945. Remember that these personal savings must be present in your account for a minimum of 90 consecutive days before submitting an application.
Who can qualify for Tier 1 visa extension?
Any Tier 1 visa holder can apply for the extension near the end of the allowed period to stay. Remember that you will have to apply before the expiry of your visa and you must meet the eligibility requirements. You must be self-employed or get registered as a director within the first six months of your allowed period to stay in the UK under the Tier 1 visa. Moreover, you will have to prove that you have been working as a director or self-employed at least 3 months prior to applying for an extension. Also, for qualifying for the extension, you must have created a minimum of two full-time jobs that have existed for at least one year.
The applicant must be present in the UK for extending the visa. Besides, if there are any dependents (such as children) on your permit, you should also include them in your visa extension application.
How long does the Visa Extension process take to complete?
Usually, the processing of a visa extension application takes 8 weeks. However, if the application is complicated, the processing time can be longer. For instance, if the documents you added the need to be verified, it can take time. Likewise, if you want to go for attending a job interview or you have some other personal issue, the process can take time.
If you applied for an extension before the expiry of the visa, you could stay in the UK, until the authorities decide to either approve or reject your visa extension application.