Uk Visa For Entrepreneurs

Are you an entrepreneur or are you going to setup your own business? This is the article for you because it will answer all questions about getting visa for entrepreneurs in Uk.

U.K. Tier 1 Entrepreneur Visa is a popular immigration route for non-European entrepreneurs looking to take up residence in the U.K. To qualify for this visa category, applicants must first make an application for entry clearance. Entry clearance is measured by the points-based system, which is based on factors such as funds available and past business experience.

Uk Visa For Entrepreneurs

Are you an entrepreneur who wants to start a business in the UK? If so, then you’re in luck! The UK has a number of visas available for people who want to start a business.

One of the most popular is the Tier 1 Entrepreneur visa. This visa is for entrepreneurs who want to start a new business or take over an existing one. It will allow you to live and work in the UK for up to three years. You also have the option of extending this visa for another two years if your business is still running successfully at that time (and if it still meets certain requirements).

Another option is the Tier 1 Investor visa, which allows entrepreneurs from outside the EU/EEA (European Economic Area) region to invest £1 million or more into UK businesses. Those who qualify for this visa are allowed to live in the country for three years with no restrictions on how much time they spend working. They can also extend their stay by investing another £2 million during that time period, although there are some restrictions on how much time they need to spend working within that period (30% at least).

If you are an entrepreneur and looking for visa in the UK, then you have come to the right place.

We know that choosing the right visa for your business can be a daunting task. There are so many options to choose from and all of them have their own advantages and disadvantages.

But if you want to set up your business in the UK, then there is no other option than applying for a Tier 1 Entrepreneur Visa.

This visa is ideal for people who want to start their own businesses in the UK and earn profit from their ideas. The main aim of this visa is to attract highly skilled entrepreneurs to set up their businesses in the country.

This visa will allow you to create jobs, generate revenue and invest in research & development activities within three years after applying for it. You can also apply for indefinite leave to remain (ILR) after five years of having held a Tier 1 Entrepreneur Visa provided that you fulfill certain conditions such as maintaining your business during those five years, having earned more than £50,000 per year on average during each of those five years, having invested at least £200,000 into your business and having created 10 full-time jobs (over 18 hours per week).

What type of work can Entrepreneur visa holder undertake?

Entrepreneur visa holders cannot seek or undertake paid employment in the UK other than working for the business or businesses that they have either established, joined, or taken over.

How do you qualify for an entrepreneur visa?

To qualify for an entrepreneur visa the applicant needs to be over 16 years of age and must score at least 95 points based on the following criteria:

• Sufficient funds available to them for investment (75 points); and
• English language ability (10 points); and
• Ability to satisfy the UK maintenance requirements (10 points)

To satisfy the funds requirement the applicant must have access to either:

• At least £200,000, with all funds to be disposable (free to spend) and held in a regulated financial institution; or
• At least £50,000 available from one of the following sources:
  • 1 or more registered venture capital firms regulated by the Financial Services authority; or
  • 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.

How long is an Entrepreneur visa valid for?

Entrepreneur visas are granted for a period of three years and four months. This can be extended for an extra two years provided specific requirements are met. See the section below about Entrepreneur visa extensions for more information.

Entrepreneur visa extensions

Entrepreneur visas can be extended for two more years if the following conditions are met:

• The visa holder has invested £200,000 in the company; and
• The company has been registered within 6 months of the date the visa holder was granted permission to stay in the UK under the Entrepreneur category; and
• The visa holder has created at least two full-time positions for settled workers. For a new business this means that an aggregate of two positions, full time or equivalent, must have been created with each lasting for at least one year. If the entrepreneur visa holder has taken control of an established UK business, their investment and presence in the company must have created two positions similar to those outlined above.

Note that when making an application to extend an entrepreneur visa the application should also include any dependents who are on visa holder’s current visa (including children who have turned 18 during their stay in the UK).

Entrepreneur visas and settlement in the UK

Entrepreneur visas offer a pathway to settlement in the UK. This is also known as Indefinite Leave to Remain or ILR.

To qualify for ILR, the Entrepreneur visa holder must:

• Have lawfully resided in the UK on this visa for 5 years; and
• Be able to show sufficient knowledge of the English language and life in the UK.

Note that the visa holder cannot have more than 180 days of absence from the UK in each of these 5 years.

Alternatively, entrepreneur visa holders can achieve ILR status after 3 years if they meet the following criteria:

• They have invested £200,000 in the company; and
• The company was registered within 6 months of the date they were granted permission to stay in the UK under the entrepreneur category; and
• They have created at least 10 full-time positions for settled workers; or Established a new business with turnover of at least £5m during the 3 year period

Applying for British Citizenship (naturalisation)

Typically, Entrepreneur visa holders can apply for British citizenship after having spent 6 years in the UK, but there are faster routes available for those responsible for creating businesses with a high turnover or a high number of jobs.

Please contact Visalogic for more information about entrepreneur visas and applying for British Citzenship.

Switching into the Entrepreneur visa category

Foreign nationals can apply to switch into the Entrepreneur visa category if they are already in the UK under one of the following visa categories and can meet the Entrepreneur visa eligibility requirements:

• Tier 1 (General)
• Tier 1 (Investor)
• Tier 1 (Graduate entrepreneur)
• Business person
• Innovator
• Highly Skilled Migrant Programme
• Work permit holder
• Self-employed lawyer
• Writer, composer or artist
• Investor
• International Graduate Scheme
• Fresh Talent: Working in Scotland Scheme
• Tier 2 Prospective entrepreneur
• A visitor who has been carrying out permitted activities as a prospective entrepreneur

If you have a specific type of funding it may be possible to switch to the Entrepreneur visa category from one of the following categories:

• Tier 1 (General)
• Tier 1 (Post-study work)
• Tier 4 Student Student re-sitting an examination
• Student nurse
• Student writing up a thesis
• Postgraduate doctor or dentist

Please note that if you holder another UK visa not listed above you will need to leave the UK and submit your Entrepreneur visa application from abroad.

Conclusion

There are many kinds of business visa for entrepreneurs in UK. The most popular option is entrepreneur visa. UK entrepreneur visa (also known as tier 1 investor visa and entrepreneur visa) is designed to attract foreign investors who want to make investments and start businesses in the UK.

Though it’s certainly not the only country, there is a lot of incentive for foreign entrepreneurs to move to the UK, especially if they are looking to launch a tech startup. This article focuses on why the UK is a great place for tech entrepreneurs, as well as tips for getting your visa.