UK Business Visa – Tier 1 (Entrepreneur)

1. Overview

If applicant successfully applies for a visa under Tier 1 (Entrepreneur) from outside of the UK, applicant can go to the UK for a maximum duration of 3 years and 4 months. Towards the end of this time duration, applicant can request to extend the stay if he/she wants to continue living in the UK.
Entrepreneur Visa holders are granted to bring their dependants including their children less than 18 years of age, husband or wife partner to the UK.

Applicant’s request to stay will be considered on the following conditions:

  • Applicant will have no access to public funds, that means that applicant will not be capable to claim most benefits paid by the state
  • Applicant will need to register with the police if necessary
  • Applicant will not be able to take any employment other than working for the business that applicant has started, joined or taken over

A total score of 95 points is needed to get the Entrepreneur Visa. Points are given on base of funds, English language proficiency and maintenance funds.

  1. Point Base System for the visa

Access to investment funds

  • 25 Points For : Applicant must have access to at least £200,000 or £50,000from:

1 or more registered venture capital firms regulated by the Financial Services Authority;

1 or more registered venture capital firms regulated by the Financial Services Authority;

1 or more UK entrepreneurial seed funding competitions listed as endorsed on the UK Trade and Investment website, or

1 or more UK government departments, which have made the funds available for the specific purpose of establishing or expanding a UK business.

or

Applicant should have access to minimum amount of £50,000 and:

Be apply for leave to remain

Have, or were last approved, leave as a Tier 1 (Graduate entrepreneur) migrant.

or

Applicant has access to at least £50,000 and:

Is applying for leave to remain

Has, or were last permitted, leave as a Tier 1 (Post-study work) migrant

Was registered with HM revenue and Customs as self-employed, or a registered director of a new or existing business at least 3 months prior to the application

Is involved in business activity, other than the work essential to administer the business. The occupation of the applicant should be in the list of occupations at the National Qualifications Framework level 4 and above, as stated in the codes of practice for Tier 2 sponsors.

  • 25 Points For : These funds are held in 1 or more regulated financial institutions
  • 25 Points For: These funds are disposable (free to spend) in the UK
  • 10 Points For: Applicant is able to speak English according to the requirement
  • 10 Points For: Applicant has sufficient amount of funds to support himself during the stay in the UK

 Visa does not allow the following investments:

  • Include the value of any residential accommodation or property development, or property management
  • Be in the form of a director’s loan,
  • except it is unsecured and is subordinated in favour of the third-party creditors.

2. Fees Structure

  Fee if you are applying by post in the UK Fee if you are applying in person inside the UK Fee if you are applying outside the UK
Main applicant £1,020 £1,326 £816
Main applicant (if they are a national of Croatia, Turkey or FYR of Macedonia) £918 £1,193 £734
Partner or child aged under 18 (if they are applying at the same time as the main applicant) £510 for each family member included on the main applicant’s application form £663 for each family member included on the main applicant’s application form £816 for each family member
Partner or child aged under 18 (if they are applying later), or child aged over 18 £561 for each family member £867 for each family member £816 for each family member

3. Eligibility

You must have access to at least £50,000 investment funds to apply for a Tier 1 (Entrepreneur) visa.

Your funds must be:

  • Held in one or more regulated financial institutions
  • Free to spend (‘disposable’) on business in the UK

There are different eligibility requirements depending on whether you have access to £50,000 or to £200,000.

You must also:

Read more about the points-based system in the full guidance on the Tier 1 (Entrepreneur) visa.

Sharing investment funds

You can form an ‘entrepreneurial team’ with one other Tier 1 (Entrepreneur) applicant and share the same investment funds.

You and your team member must meet all the application requirements and:

  • Not use the same funds on another application with a different entrepreneurial team
  • Provide all the documents needed for evidence of the funds with your own applications

4. Documents you must provide

When you apply you’ll need to provide:

  • A current passport or other valid travel identification
  • Evidence of the investment funds available to you
  • A business plan
  • Evidence that you can support yourself during your stay
  • Proof that you meet theEnglish language requirement
  • Yourtuberculosis test results if you’re from a country where you have to take the test
  • Acriminal record certificate from any country you have lived in for 12 months or more in the last 10 years

You need a page in your passport that’s blank on both sides for your visa.

You’ll need to provide a certified translation of any documents that aren’t in English or Welsh.

Read the guide for a list of documents you can provide.

You may need to provide additional documents depending on your circumstances.

Evidence of investment funds

You must provide an official letter from each financial institution 
holding the funds and a recent:

  • Personal bank or building society statement – for money from a UK financial institution
  • Letter from an accountant or authorised official – for money from a UK government department
  • Letter from an accountant – for money from a seed funding competition or venture capital firm

For money from a venture capital firm you must also provide:

  • An original letter from its director, partner or fund manager
  • A term sheet signed by all parties
  • Proof that it has carried out checks and followed certain processes (‘due diligence’)

Funding from a third party

You must provide evidence of funding from any third parties other than a UK entrepreneurial seed funding competition endorsed by UKTI or a UK government department.

You must also provide evidence if you’ve had the money for less than 90 days before you apply.

You must provide both:

  • Confirmation they’ve made the money available for you to invest in a UK business
  • A letter from a legal representative (independent from those providing funds) confirming the signatures on the declaration are valid

Evidence that you can support yourself

You must prove that you have enough personal savings to support yourself while you’re in the UK.

How you prove this depends on where you’re making your application from:

  • Outside the UK – you’ll need £3,310
  • In the UK – you’ll need £945

Your personal savings must have been in your bank account for 90 consecutive days before you apply.

You can’t use either of the following to support yourself:

  • Money from your investment funds
  • Money earned while working in the UK illegally