Tier 1 Entrepreneur category is suitable for High Net Worth individuals who have a genuine and credible business idea and wish to invest money (£200,000 or more), skills and knowledge in the UK through setting up their own business or taking over the running of one or more businesses.
Only 816 Tier 1 Entrepreneur entry clearances were granted in 2016, and the refusal rate for this type of applications is on average 50%. So the risk to be refused is extremely high.
Since January 2013 all Tier 1 Entrepreneur migrants making an initial application are subject to a Genuine Entrepreneur Test. It means that while considering an application the Home Office must be satisfied that:
- - the Applicant genuinely intends and is able to establish, take over or become a director of one or more businesses in the UK within 6 months of coming to the UK;
- - the Applicant genuinely intends to invest the money in the business or businesses;
- - the money is genuinely available to the Applicant and will remain available;
- - if the Applicant is relying on previous investments, that he/she has genuinely invested all or part of the investment funds into one or more genuine businesses in the UK; and
- - the Applicant does not intend to take employment in the United Kingdom other than working in own business.
There are number of different factors that the Home Office will consider, they include:
- - the viability and credibility of the source of the money;
- - the viability and credibility of the business plan and market research into chosen business sector;
- - previous educational and business experience (or lack thereof);
- - the Applicant’s immigration history and previous activities in the UK;
- - where the Applicant has already registered in the UK as self-employed or as the director, and the nature of the business requires mandatory accreditation, registration and/or insurance, whether that accreditation, registration and/or insurance has been obtained; and
- - any other relevant information.
In addition to the documents submitted with the application, the Applicant can be invited to the interview.
A Genuine Entrepreneur Test is subjective; therefore it is extremely important to provide documents confirming that business or business idea is working and is likely to be successful, and benefit the UK economy.
There are also other requirements that seem to be less important, however may be a reason for refusal, for example, sufficient evidence of English language skills, maintenance fees (in addition to investment funds), or even previous immigration history.
Tier 1 Entrepreneur visa is a complicated application. It is easy to miss something while preparing a huge bundle of documents. You are highly encouraged to seek professional legal advice to understand the visa options and to build a successful plan for the future. We tailor our advice to meet expectations of our clients and to identify the most suitable visa route to enable you to successfully start your own business.
Contact LS Legal Solicitors today on +44 (0) 75 3595 9450 or firstname.lastname@example.org, and our team of experienced immigration solicitors can assist you with your Tier 1 Entrepreneur application. For more information visit our web-site www.lslegaluk.com.