Every year, thousands of people come to the UK looking to set up their own business. However, if a migrant wishes to start a new business in the UK they must apply for an entrepreneur visa known as a Tier 1 – (Entrepreneur) visa.
The Tier 1 (Entrepreneur) category is for migrants wishing to establish, join or takeover one or more businesses in the UK. The business can be a sole trader, partnership or company registered in the UK.
People applying for an entrepreneur visa often get confused about whether they need to apply for an entrepreneur visa or investor visa. The table below is designed to help you understand which visa you should be applying for.
|Business plan||Invest funding into an existing business or government bonds||Start your won business or take over another|
|Level of funding||Minimum of £2,000,000||Minimum of £200,000|
|Funding availability||Must have funds now||Must have new funds now or have invested the funds in the last 12 months|
|Restrictions||Certain businesses are not allowed||You cannot work for any other business than your own|
If you think you might come under the investor category visit our Tier 1 (Investor) page or contact us for advice.
UK immigration law is extremely complex and constantly changes. Some people try to complete the visa application themselves, using general advice online. However, getting the right legal advice from a solicitor, who really understands the law, is essential to make sure your application is successful, first time.
If you would like to apply for a Tier 1 (Entrepreneur) visa our team of expert immigration lawyers can give you advice that is unique to your circumstances. They will also advise you on all the documentation you need to provide and help prepare you application so that it meets all the eligibility criteria to fully satisfy the UKVI requirements.