Tier 1 Entrepreneur Visa is a visa category designed for international entrepreneurs looking to invest in the UK. This investment can be in the form of setting up a business or taking over a business (either exclusively or as a partner).
Individuals applying for Tier 1 Entrepreneur Visas are required to have between £50,000 and £200,000 in a regulated financial institution in the UK (for example a Bank or Venture Capitalist firm). However, these funds should be readily accessible and not held in shares or bonds, etc.
In addition to the financial requirements, the applicant (or applicants, where entrepreneurs are applying as a team) also need to show English language proficiency. This can be met if the applicant is a national of a major English Speaking Country (see list of majority English Speaking Countries), possess an academic degree from an English speaking country, or pass an English language test approved by the UKVI (IELTS or Trinity College) at B1 level of CEFR. Furthermore, the applicant would need a maintenance fee of £3,310 if applying from outside the UK and £945 for those within the UK.
A key aspect of the Tier 1 Entrepreneur visa application is the Genuine Entrepreneur Test. This test was introduced by the home office in January 2013 to establish that the candidate is a genuine entrepreneur capable of setting up or running a successful business in the UK. Therefore, entrepreneurs have to provide relevant documents showing their credibility and viability such as a well-detailed business plan.
The business plan has to evidence that they have done their research and feasibility study in relation to the business they intend to start. A tier 1 Entrepreneur business plan is quite different from a normal business plan. The differences begin from the purpose.
A Tier 1 Entrepreneur business plan is not just written because you want to set up a business in the UK but to show the Home Office that you know what you are really planning to do in the UK. Certain details that a normal business plan may do without can be key in demonstrating to the Home Office that you have indeed done your homework.
At the end of the three years, you are expected to have generated 2 full time employment for 2 years (one year for each employee) for persons present and settled in the UK. Your business plan also has to reflect this point. Persons present and settled means people who are in the UK and do not need visas to come in or go out.
A Tier 1 Entrepreneur business plan is therefore more detailed than a normal business plan. Importantly, it has to reflect your credibility in starting or running the business.
It should contain in detail the proposed business, location, market or sector, target market, marketing strategy, and weaknesses (actual or prospective). It should also include recruitment policy, financial projections and proper competitor analysis. Note that since you are not just writing your business plan to raise money, and are writing to show that you have done your homework and know what you are talking about, the competitor analysis is a good place to show the Home Office you have done your research. Hint: Keep this as detailed as possible.
The figures quoted should be correct, realistic and consistent with the documentary evidence provided.
An applicant could be called for an interview or have their application refused if the documents are not well prepared. A report by the Office of National Statistics revealed that the home office refused 51% of Tier 1 Entrepreneur applications between 2013 and 2014.
An applicant may wish to seek professional help with preparing the business plan, it is however important that they are involved in the process. It provides the applicant with an opportunity to know the business plan and prove their credibility if called for an interview.
When deciding genuineness of an entrepreneur, the home office will be looking certain factors such as
If the documents submitted do not satisfactorily reflect any of the above points, there is a high likelihood that your application will be refused. However, if an application is refused, your options are an administrative review or a reapplication.
For further advice or professional assistance in preparing a Tier 1 Entrepreneur visa, contact us today for a free initial assessment on 020 3744 2797 send us an email on firstname.lastname@example.org.
530 ReviewsREAD ALL REVIEWS
Tier 1 Investor Visa - Business Immigration
Investing over 2 million pounds is defintely not a routine decision. We had to make sure that the Tier 1 investor immigration lawyers that we'd be picking has to be one of the best within the Tier 1 investor category. We contacted Reiss Edwards and they were able to get us not only the Tier 1 investor visa but also suggested profitable investment portfolios in addition to what we already had in mind.
Indefinite Leave to remain - UK Settlement and
I am glad that i instructed Reiss Edwards on my visa matter. It started with a 20 minutes free immigration advice. I met with Amar to discuss my ILR refusal. He gave me a great deal of quality advice and decided to take on my messy case. I had doubts on the merits of my case by he was relatively convinced he could win it. That made me quite secure. To be honest, things did not start as quick as I would have wanted, but they kept on communicating the process and state of things to me.A big thank you to Verusha and Foram. They were also very helpful. Brilliant and informative. Their fee was fair and reasonable, especially if you compare them to other law firms and immigration law firms in London; some of whom even told me that i would not be able to get an indefinte leave to remain in this country. The process was long but was worth it. In the end, a big thank you to Reiss Edwards.
Citizenship Application - UK Naturalisation
TI have just had British Citizenship application approved. Prior to making the application, i was not sure which law firm i should hire to facilitate the paperwork. After a few hours of research, i decided to go with Reiss Edwards and i must confess that i wasnt disappointed. The immigration lawyers at Reiss Edwards handled my case well and they really knew what they were doing. They were fully aware of what documents I needed and it was easy for them to tell if my case was going to be easy or not. At the end of the day, I have not received my British citizenship within 3 months. If anyone is looking for a good immigration lawyer to handle thier case, contact Reiss Edwards.
Spouse Visa - Appeals and visa refusals
My wife's spouse visa extension application was refused by the Home Office and they gave her 14 days to leave the country. We contacted Reiss Edwards and they said "OK don't worry we will sort this out". They put together the list of documents for me to obtain and they prepared a bundle which was as thick as the printer it came out from.We followed everything they asked us to do and in the end we won our appeal and got our spouse visa. We can't recommend them enough and we have promised ourselves never to make any more UK visa applications without them.
Immigration Visa - Citizen of United Kingdom
The team of lawyers at Reiss Edwards are very professional and friendly people. Their experience in and around UK immigration law is quite extensive; be sure that you application is in safe and competent hands. My immigration matter was an indefinite leave to remain application based on Tier 1 on a self-employment basis. The immigration lawyers at Reiss Edwards made sure that the application was perfect and ready to be accepted. I got a positive decision and I recommend them highly for anyone who needs a UK immigration help.
UK Settlement Visa
I contacted Reiss Edwards to help me with my wife�s UK settlement visa. They acted with utmost professionalism throughout the entire application. I spoke with Joe Dinh, he is an immigration solicitor and he is one of the best solicitors out there. He ensured that there was little to no room for error. At some point I thought he was over cautious. He remained calmed and continued to assure us on our immigration matter. Most people in his position would have panicked but he was calmed and continued to assure us. We received out positive outcome very quickly.
Cheap Immigration Lawyers in London
I have been using Reiss Edwards for three years now for my family's immigration application. Both for my initial application and extension. They are really affordable. The team of solicitors at this firm are probably one of the most efficient and economical in terms of cost. They offered free advice over the phone and spent good time with us before inviting us for consultation.
Top Notch Immigration Service
Reiss Edwards is a top notch immigration service company. The way they handled our documentation and also the list of documents they sent was efficient and top quality. They helped us professionally throughout the process. We are very happy with the immigration advice we received from the team. We highly recommend them.
Best Immigration Solicitors
I used Reiss Edwards� immigration lawyers to assist with my immigration matter and that of my family. It was an EX1 application. They dealt with the matter properly and even when complications were coming up from the Home Office, they helped resolve the issue properly. They are very professional and are very popular in London. I am happy to have worked with them.
Indefinte Leave to remain - Individual Immigration - UK Settlement
It's a shame that you dont have an 'Excellent' star rating on here, as my experience with Reiss Edwards is nothing short of an excellent rating. They handled my application for an Indefinite Leave to remain in April 2014 and did my husband's one very recently including my daughter. Every time i have approached them, they have continued to treat me with courtesy, respect and patience. Amar was indeed a very thorough and professional gentleman. He is very knowledgeable, corporative and engaging. He responded to my emails, calls and enquiries promptly. He was always reassuring. I could not have asked for a better Immigration service. I would recommend them over and over again for anyone looking for an immigration advice. They gave me a free immigration advice when i called them, and the quality of the advice was something other charge thousands for. If you need a particular, name, Amar would be it. He exemplifies, for me, the true, professional gentleman. He is a valuable asset to Reiss Edwards.
Tier 2 Visa application - UK Work Visas
This is the only firm that i spoke with that didn't ask for money before listening to me, will be using them again.
I used Reiss Edwards for my Tier 2 visa application and it was successful. The team was ever present and happy to answer my question. The caseworker that dealing with my case went on holiday yet by case did not suffer one bit. Another lawyer stepped and took over the case without any hassle.
Tier 1 Investor Visa - Business Immigration
My Tier 1 Investor Visa was dealt with quickly and without issue. Would recommend Reiss Edwards as an Immigration law firm in London. Thank you to the team.