Tier 1 Entrepreneur visas are available to nationals of countries outside the European Economic Area (EEA) and Switzerland who want to set up or run a business in the UK.
Applicants need to show access to a minimum of £50,000 if a funding source is a venture capital firm, UK government department or UK Trade and Investment-approved scheme. Other applicants will need to show access to £200,000.
These visas offer advantages when compared with several other visas. Here are the top 10 reasons why you might want to consider the Tier 1 Entrepreneur visa:
- Easily accessible. This visa is among the most flexible. People already in the UK on a variety of visas – among them, Tier 1 (General), Tier 1 (Investor), Tier 1 (Graduate Entrepreneur), Tier 2 and skilled professionals – can switch to this visa provided they meet other eligibility requirements.
- Faster visa processing. It is one of the fastest visas. You could get residence permits for yourself and your spouse or partner and minor children as soon as three months.
- Right to pick a partner. Entrepreneurs are allowed to choose a business partner with both being allowed to enter the UK.
- Lower investment threshold. This visa requires applicants to have £200,000, whereas the Investor visa, for example, requires £2 million.
- Right to work for dependents. Your dependents – your married, unmarried or same-sex partner and dependent children – are free to work in the UK.
- Free schooling. This visa gives your children the right to free primary and secondary school education. After three years, they can also attend university by paying the same fees as UK nationals, not the higher fees usually applicable to foreign nationals.
- Free healthcare. Unlike other categories of immigrants, Tier 1 entrepreneur visas provide free healthcare to you and your family, just as if you were UK nationals.
- Flexibility to travel. Entrepreneurs can live outside the UK for up to 180 days in any 12-month period without compromising the path toward residency. However, they may not leave the UK for two years or more. Also, they will require visas to travel to other EEA countries.
- Faster path to permanent residency. In the normal course, entrepreneurs and their families gain Indefinite Leave to Remain after five years. But that privilege can be won in just three years if the entrepreneur’s business creates 10 jobs or records a turnover of £5 million.
- Faster track to citizenship. Visa holders who secure permanent residency after three years may apply for UK citizenship after an additional two years. If they obtain permanent residency after five years, they can apply for UK citizenship after an additional year.
Elm Rose Consultancy is a specialist immigration law firm in Glasgow providing outstanding immigration services for individuals and businesses worldwide, and can assist you in applying for Tier 1 Entrepreneur visas.
Call or email us for a free initial assessment without any obligation.
Telephone: Glasgow 0141 283 0190
Telephone: London 020 7112 8528
Fax 0141 283 0191
Keywords: Tier 1 Entrepreneur visa, Investor visa, Graduate Entrepreneur visa, indefinite leave to remain