The Tier 1 Entrepreneur Visa category allows international businesspeople with between £50,000 in funds available for investment to enter the UK in order to establish or take over a UK business – either exclusively or as a partner. The funds must be held by a regulated institution, such as a bank or venture capital firm, and must be free to spend – not tied up in securities, shares, or similar arrangements. Keep a note that the individual is not from European Economic Area and Switzerland.
Tier 1 Entrepreneur visa applications are assessed using a points system; applicants must score a full 95 points to be granted a visa. The following table gives a detailed breakdown of how points are awarded.
Tier 1 Entrepreneur applicants must have funds available to support themselves during their stay; the amount of maintenance funds required depends whether the applicant is making an initial visa application, or applying for an extensions. All applicants must have had this amount consistently for 3 months till you travel.
It is valid up to 3 years and 4 months initially, and up to 6 years and 4 months in total with extensions.
The length this visa can be extended for depends on the applicant's visa status. Those switching to the Tier 1 Entrepreneur visa from another category can extend their visa for 3 years. All others can only extend it for 2 years.
Workers on this visa can work for the UK business they are running in a salaried or self-employed role, but cannot take another job outside of the business.