Tier 1 Entrepreneur
Introduction
If you are going to start a business in the UK you may be eligible to apply for a entrepreneur visa. Any type of business is acceptable, but you should remember that you will have to work yourself full-time managing the company. You must intend to invest at least £200,000 in the business. Please follow the link Investor visa if you are going to come to the UK as a investor.
Do I qualify to come to the UK to run my own business?
You will need to show that you will:
• Invest minmum of £200,000 in a new or already-existing UK business
• Create full-time employment for at least two British or EEA nationals
• Work yourself full-time in the management of the business
• Have sufficient funds to support yourself and any dependants until the business is profitable
• Have a controlling or equal interest in the business
• Take a share of the business's responsibilities
• Provide a detailed business plan
Please note that the funds which you are going to invest in the UK should be your own funds, not borrowed funds. The funds may be invested in the business either as a direct cash investment or as share capital. You must be able to show that your English language skills are sufficiently good.
Your initial visa will normally be granted for three years. At the end of this period you can apply for the visa extension, but you must be able to show that your business is doing well and that you have made the required investment and created two full-time positions. If these conditions are fulfilled, the Home Office may grant an extension to your visa of not more than two years. After a total of five years in the UK on a entrepreneur visa you may apply for Indefinite Leave to Remain in the UK for yourself and your dependants. A year after being granted indefinite leave to remain you may apply for naturalisation as a British citizen.