If you currently hold a leave to remain as a Tier 1 Entrepreneur migrant, you may be able to make a Tier 1 Entrepreneur visa extension application as you approach the tail end of your initial application visa. It is important that during your initial leave as a Tier 1 Entrepreneur migrant, you have created jobs and invested the required sum in addition to meeting the other conditions of your visa.
The Tier 1 Entrepreneur visa initial application is usually granted for 3 years, after which the applicant may apply for a Tier 1 Entrepreneur visa extension to extend his leave to remain under the same visa category.
It is important to note that your activities during the initial period of 3 years counts towards if the Home Office will grant your extension application or not. We have created a list of a few things we believe you must do to further position your extension application for success.
Please note that Tier 1 Entrepreneur visa extension applications can only be made by post and the Home Office do not allow the same day service for visa applications under this route. Successful applicants under this visa category will be granted a leave for up to 2 years.
Please note that applicants will need score a 95 points in addition to meeting other requirements in order to be eligible or extension.
Recall that in the initial Tier 1 Entrepreneur application, applicants would have needed to show that they had access to a minimum of GBP 200,000 or GBP 50,000. In order to ensure a successful extension application, applicants would need to show that they have indeed invested the required amount into a UK business.
In the event that the business was funded by a director’s loan, this would need to be evidenced in the application by way presenting the director’s loan agreement. Applicants should take note of inconsistencies that tend to arise where the dates on the director’s loan agreement do not precede the date of the fist transaction. Importantly, the ideal situation is to have the director’s loan coming first before business transactions.
It is also important to note that only investment funds that were injected into the business within the past three years as a Tier 1 Entrepreneur will be taken into consideration, investments before this period will be ignored.
We would also recommend that the accounting books are prepared by regulated accountants who is regulated by and is a member of a recognized supervisory body.
The monies invested in the business must be real investments in every sense of the word. Entrepreneurs should avoid situations where the accounting books suggest that the entrepreneur has injected his personal funds into the business for the sake of it. The financial records must visibly suggest that the monies invested into the business were actual business investment.
The records must also show for every chunk investment, who, when and how much investment in total was made.
Tier 1 Entrepreneur visa extension applicants must be able to demonstrate in their application that they had become a director of a business, or were registered as self-employed within the first 6 months of their entry into the UK.
Still engaged in a business activity:- 15 points
The Tier 1 Entrepreneur visa extension applicant will need to show that they are still engaged in business activities. It is important to note that the rules are silent on whether or not it is the same business that was started in the initial visa application that applicant still need to be in during the extension. However it does states the need for the applicant to show that s/he actually engaged in a business activity in the UK. The applicant also need to show that s/he is still engage in a business as at the time of the Tier 1 Entrepreneur visa extension application.
Job Creation:- 20 points
The aim of the Tier 1 Entrepreneur visa would be defeated if it doesn’t created jobs. Importantly, extension applications must demonstrate that they had created 2 new job for two settled workers during the course of their initial application as a result of their business activities. This would normally be evidenced using payslips, etc. It is important that payslips show the number of hours worked per month. We do understand that not all payslip show this, in such cases, the employment contract may also serve in some cases as a valid evidence.
For applications where the initial leave was granted before the 6th of April, the applicant can rely on the scenarios described below to make up the creation requirement.
Our profound expertise and experience in Tier 1 Entrepreneur visa extension applications is evident from our success rate which is publicly visible in our reviews online. We boast of one of the leading Tier 1 Entrepreneur visa lawyers in london. Specialising in initial application, extension as well Indefinite Leave to remain.
Contact us today for a free initial assessment on 020 3744 2797 or send us a quick email on firstname.lastname@example.org.