Tier 1 Entrepreneur Visa Requirements, Processing Times, Fee

This post highlights a sample inquiry relating to Tier-1 Visa Requirements concerning an enquiry and who wrote:

I want to apply for UK- Tier-1 Entrepreneur Visa. I want to know the complete details relating to Tier-1 Visa Requirements, procedure, eligibility criteria, and processing time. Kindly provide me full details regarding it.

Summary of Tier 1 Entrepreneur Visa Application Requirements

Tier 1 Entrepreneur Visa Requirements, Processing Times, Fee

In reply to the enquiry, we advised:

Thank you for your email. Your enquiry has been referred to me. The Tier 1 Entrepreneur category is meant to be points based application but unfortunately, it isn’t really assessed as one and there are a lot of subjective elements to it like your own personal academic background, experience, a business plan so on and so forth.

Access to Tier 1 Entrepreneur Investment Funds

In simple words and as a starting point you should have £ 200,000 available to you to invest in the UK. However, the investment doesn’t permit investment in real estate.

Let me know if you have these funds available to you and I can then guide you on further requirements and our fee for these applications.

Who Can Apply for Tier 1 Entrepreneur Visa?

One can apply for Tier 1 (Entrepreneur) visa if he/she wants to set up or run a business in the United Kingdom and the applicant is from outside Switzerland and the European Economic Area (EEA). However, the applicant needs to meet the eligibility requirements.

All main applicants need to score 95 points and should be at least 16 years of age.

Tier 1 Entrepreneur Visa- Access to Investment Funds

The applicant needs to have access to either at least £50,000/- or £200,000/- investment funds for applying under the Tier 1 (Entrepreneur) Immigration route for high-value migrants. The eligibility criteria differ depending on whether the applicant has access to £50,000 or to £200,000. Here it is important to note that most of the applicants apply for Tier 1 Entrepreneur under the eligibility criteria with access to £200,000 investment funds.

The investment funds are required to be in a regulated financial institution and free to spend, i.e. ‘disposable’, on business in the United Kingdom.

The applicant also needs to meet the English language requirement and can maintain himself and dependant during the stay in the UK without recourse to public funds.

Tier 1 Entrepreneur Visa- Lenght of Stay in the UK

Once the Initial Application for Tier 1 Entrepreneur is successful, then the Tier 1 Entrepreneur Visa is issued for a maximum period of three (3) years and four (4) months. The visa can be extended for another two (2) years, if an applicant is already on Tier 1 Entrepreneur Visa in the UK, and three (3) years if an applicant has switched from another visa category. The applicant will be able to apply for settlement (also known as ‘indefinite leave to remain’) once he/she has been in the United Kingdom for five (5) years.

Permitted and Prohibited Activities- Tier 1 Entrepreneur Visa

The Tier 1 Entrepreneur Migrant can set up or take over the running of one or more businesses in the UK, work for his/her own business, including being self-employed, and bring family members. However, the Tier 1 Entrepreneur Migrant, is not authorized to do any work outside his/her own business and recourse to public funds.

Tier 1 Entrepreneur Visa Application Processing Time

The earliest an applicant can apply is three (3) months before the travel. For instance, an applicant can apply from 15 April if he/she is planning to travel on 15 July. Once the application is submitted then it is usually processed within three (3) weeks; however, due to interview and documents verification, it can take up to 5-6 weeks at the most.

Tier 1 Entrepreneur Visa Fee

From April 6, 2018, if one is applying from inside the UK either online or through the post then the Tier 1 Entrepreneur Visa Application Fee is £1,277/- for the Main Applicant and each of the dependants.  For Turkish and Macedonian applicants it is £1,222/-. 

For applications from outside the UK, the Tier 1 Entrepreneur Application Fee is £1,021/- for the Main Applicant and each of the dependants. For Turkish and Macedonian applicants it is £966/-.

Tier 1 Entrepreneur Visa Application- Healthcare Surcharge

Tier 1 Entrepreneur Applicants need to pay the healthcare surcharge as part of the application, which is £200/- per year £700 for the Initial Application made by the Main Applicant without no dependant. If one dependant is applying along with the main applicant, then the Healthcare Surcharge will be £1,400/-. In case of a refusal decision (unlike the Visa Application Fee, which is non-refundable), the payment of healthcare surcharge is refunded to an applicant.

Tier 1 Entrepreneurial Teams and Sharing of Investment Funds

An applicant can establish an ‘entrepreneurial team’ with one other Tier 1 (Entrepreneur) Applicant to share the investment funds. Both the applicants need to meet all the requirements. The applicants need to provide the evidence of money with their application and ensure that the same funds are not used on any other application with a different Tier 1 Entrepreneurial Team.

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Related: Tier 1 Entrepreneur Entry Clearance GuidanceExtensionILRAttributes for Tier 1 Entrepreneur 75 PointsTier 1 Entrepreneur English Requirement 10 PointsTier 1 Entrepreneur Maintenance 10 PointsUK Entrepreneur Visa Success Rate and Refusal  ReasonsTier 1 Visa Refusal Rate 2017 and Policy Guidance.