The granting of Tier 1 visas is governed by a points based system. Applicants must achieve a certain number of points in total, as a minimum, to be successful in applying for this visa. The number of points required depends on the particular sub-category of Tier 1 being applied for.>
This is the ideal visa to apply for if you wish to establish a business within the UK and are from outside of Europe or Switzerland.
Applicants must score at least 95 points to successfully apply for this visa. Points are acquired by scoring 75 points in the initial application by having investment funds of either £200,000 or £50,000 depending on the source of funds. You can combine your funds with another person as an ‘entrepreneurial team’ if you both have access to equal amount of funds.
The entrepreneur must also:
- Show that the funds are safe within a regulated financial institution/s (earning 25 points maximum)
- Prove that the money is meant for use in the UK (earning 25 points maximum)
- Meet English Language requirements
Exceptional Talent Visa
The exceptional talent visa affords leaders in various fields the opportunity to bring their skills to the UK. These fields can include the arts, technology, engineering, science or the humanities and you must be endorsed as an exceptional talent by the following bodies as recognised by the Home Office:
- Tech City UK
- The Arts Council England for arts and culture applications
- The British Academy for humanities and social science applications
- The Royal Academy of Engineering for engineering applications
- The Royal Society for natural sciences and medical science research applications
Only 500 people can apply for this visa each year, so it would be prudent to enlist a skilled immigration solicitor to assist with the application.
This category has stopped accepting new applications or extension. If it was your intention to apply for a Tier 1 (General) visa, contact our office on 01204 894 866 and we can advise you as to what the appropriate alternative visa would be for you to apply for.
Graduate Entrepreneur Visa
A graduate that has a genuinely promising and developed plan to launch a business can apply for this type of visa. This can help a graduate to extend their stay within the UK for a year after graduation.
There are several steps to go through to obtain a Tier 1 Graduate Entrepreneur Visa:
- Be endorsed by a UK higher education institution which also agrees that both you and your business plan have been assessed
- You possess a recognised bachelor’s degree or postgraduate degree from that UK-based higher education institution
- You have the required English language ability
- You can support yourself financially while in the UK
Investing funds into a UK business can be achieved by a foreign national if they hold an Investor Visa. The requirements to successfully obtain this visa include:
- Having at least £2,000,000 in funds to invest
- Being from a country outside of Europe or Switzerland
- Having a UK bank account with funds ready to be used in the UK
The funds cannot be invested into the property industry. The holder of an investor visa can apply to remain in the UK indefinitely after five years, although this can be reduced to a shorter wait if greater sums are invested.