To be eligible for a UK Tier 1 Visa, applicants must be a leader in their field and demonstrate international recognition.
Who Would Apply for UK Tier 1 Visa?
The Tire 1 UK Visa is an entrepreneur visa aimed at foreign national business people who would like to enter the UK to invest reserves into an established business or start a new business. Within the Tier 1 category, the applicant’s direct family, including their partner and children under 18 years of age, may join them in the United Kingdom. The applicant’s children will be eligible to enroll in the UK’s education system. This visa is a stepping stone to British citizenship and permanent residency.
Tier 1 visa holders are permitted to seek paid employment in the UK for businesses other than those they have taken over, joined, or established.
How to Qualify for a Tier 1 Visa
To be eligible for an entrepreneur visa, applicants must be over the age of 16 and score a minimum of 95 points based on the below criteria:
- English language ability – 10 points
- Sufficient funds available for investment – 75 points
- Able to satisfy UK maintenance requirements – 10 points
To meet fund requirements for a Tier 1 UK Visa, applicants will need to have access to either:
- A minimum of £50,000 available from at least one of the entrepreneurial seed funding competitions; at least one registered venture capital firm that is regulated by the Financial Services Authority; or at least one UK government department that has made funds available for the purpose of expanding or establishing a business in the UK.
- A minimum of £200,000, with all the funds classified as disposable and held in a regulated financial institution.
How Long is a Tier 1 Visa Valid For?
Tier 1 UK visas are valid for three years and four months. The visa can be extended for an additional two years provided certain requirements are met. These include:
- The visa holder has devoted a sum of £200,000 to the business
- The business has been registered within six months of the date the applicant was given permission to live in the UK under the Tier 1 category
- The visa holder has created several full-time positions for settled workers.
Tier 1 Visa and UK Settlement
The entrepreneur visa is a pathway to settlement in the United Kingdom and is also referred to as Indefinite Leave to Remain (ILR).
To qualify for ILR, the visa holder must:
- Show adequate knowledge of life in Britain and of the English language
- Lawfully lived in the UK on the Tier 1 visa for 5 years
During the 5-year period, the visa holder may not be absent from the UK for more than 180 days.
Do You Require Assistance?
Muldoon Britton’s attorneys are trained and qualified in both UK and Irish Law. Our clients can use our services to take legal action in UK and Irish courts without leaving the U.S. Our offices are based in New York. Feel free to contact us.