Tier 1 entrepreneur visa Refusal Rate
Britain is open for business! This is at least the claim of successive British governments, but whilst it's a catchy marketing slogan, the truth seems to be somewhat different. With a 50 percent refusal rate, the Tier 1 entrepreneur visa route has one of the highest refusal rates of any visa system in the World.
With an initial period of 3 years and 4 months, the Tier 1 entrepreneur visa is one of the more generous on offer by the British government. Each year it is heavily applied to due to its straightforward requirements and open nature one you are in the UK. But with such a high refusal rate is it really worth the risk?
Due to the eligibility criteria, for those who have a solid business plan and seed funding the Tier 1 entrepreneur visa is actually relatively straightforward to apply for. Though many are likely to be put off by the high failure rate you have to consider the variance in quality there will be between applications. If you have constructed your application properly then you should stand a strong chance of success.
The eligibility criteria are briefly;
- £200,000 of investible funds for starting a business in the UK
- A business plan
- Enough money to self-support for a short period of time
- English language requirement
As long as you can satisfy this criterion and the business plan is solid, then you have a more than fair chance of being accepted. But if you want to maximise your chances then get in touch and talk to us about helping to manage your application for you.
The British government is always on the lookout for high-quality entrepreneurs to enter the UK. They are fully aware of the potential wealth creation that entrepreneurs bring and that can also create employment. With Brexit on the horizon, the British government needs to consider the way it handles applications from entrepreneurs. Right now Britain is a bright and vibrant economy operating within the European Union, but after 2019 it will not have the attraction that being in the European Union currently brings. Britain will have a hard time maintaining its position as one of the World's leading economies if it loses arguably one its biggest reasons for operating there.
Other European countries are battling hard to lure entrepreneurs away from the UK and are using Brexit as a means to do so. Many businesses have already posited the idea of relocating to continental Europe in order to continue operating with the remaining EU member states rather than the UK and this will be a worry to Westminster going forward.
How We Can Help
If you are interested in applying for a Tier 1 entrepreneur visa or indeed any other visa then please get in touch. Our immigration lawyers are well versed in British applications and can help to project manage the whole process from start to finish. Using our immigration solictors will help to maximise your opportunity to be successful, so get in touch today.