United Kingdom is a dream place to visit for most of the people, here is your chance to not only visit but to live and work there. If you have £200,000 to invest, then UK Tier 1 Entrepreneur Visa is for you. The position of the United Kingdom, both geographically and financially places it at the center of a wide range of markets and sectors. As a result, there is an growing demand for entrepreneur visas to the UK. The Tier 1 Entrepreneur visa is a visa category under the point-based system that allows you to live in the UK if you are establishing, taking over, or actively involved in running a business in the UK. The UK’s market and diversified economy offers opportunities to the new investors to gain access to a domestic market and to use the location as a gateway to the rest of the world. This visa is generally popular among the Pakistani entrepreneurs and investors. This not only allows them to own a business in the UK, but also allows them live there with their family for 3 years and 4 months and another year of extended period.
Moreover, the Tier 1 Entrepreneur Visa holders can apply for settlement after a period of 5 years stay in the UK.
You can check your eligibility with AUSPAK to know if you qualify and what are the benefits you can avail.
The UK Tier 1 Entrepreneur visa is a point based system for the non-European migrants who want to invest in the UK by setting up or taking over, and being actively involved in the running of a business in the UK.
To qualify under the Tier 1 (Entrepreneur) immigration program, you must score 95 points under Investment attributes, Language skills and Maintenance funds as per given table.
|Access to investment funds|
|You have access to not less than £200,000||25 Points|
|These funds are held in 1 or more regulated financial institutions||25 Points|
|These funds are disposable in the UK||25 Points|
|You can speak English to the required standard||10 Points|
|You have enough money to support yourself while you are in the UK||10 Points|
You need to maintain £3310 for 3 months (Main Applicant) and £1890 per dependent for 3 months in a regulated bank prior to application submission. Investment funds £200,000 should be maintained for 3 months prior to the application.
Once an application is submitted at the UK Embassy, the process time is 2 – 4 weeks. The process time may increase if the Embassy schedules an interview.
During the process time, the Home Office takes into account various factors including (but not limited to) :
This visa also allows the applicant to form an entrepreneurial team with one other Tier 1 Entrepreneur visa applicant and share the same investment funds.
If you are in the UK on a Tier 1 Entrepreneur visa you can apply to extend your visa if you meet the eligibility requirements, which state that, the applicant:
To qualify for an extension, the applicant must demonstrate that they have invested into 1 or more UK business through £200,000 in cash.