The UK is seeing a rising interest in its Tier 1 Entrepreneur Visa as a pathway to UK immigration, according to reports.
Foreign investors are looking to gain a foothold in the UK before potential changes brought about by the country’s exit from the European Union.
Reports suggest London is attracting more investment than anywhere else in Europe, with the UK Tier 1 Entrepreneur Visa a key vehicle for that investment.
The belief is that investors are looking for a relatively cheap path to establishing themselves in London, a city with global connections.
The government recently tweaked the UK Tier One Entrepreneur Visa to make a number of seed funding streams available. This means money can be awarded to entrepreneurs to support their visa applications.
One of the key markets for the visa is South Africa, currently struggling with a political and economic crisis.
Citizens are looking to a way out, and are flocking to the UK, with a surge in interest in the entrepreneur visa over the last year.
What Is The UK Tier 1 Entrepreneur Visa?
The UK Tier 1 Entrepreneur Visa requires investment of £50,000 or £200,000 in a UK business. Candidates have the option of creating their own business in the UK, or taking a full or partnership share of an existing one.
The invested funds must be freely available as cash, and are held by a bank or other financial institution recognized by the UK’s Financial Services Authority (FSA).
Candidates have their applications for the UK Tier 1 Entrepreneur Visa assessed using a points-based system, requiring a score of 95 to qualify.
UK Tier 1 Entrepreneur Visa: Points Available
£50,000 investment from one of
|Funds held in regulated financial institution||25|
|Funds free to spend||25|
|Access to required maintenance funds||10|
|English language proficiency||10|
How long you can stay
- Initial maximum of 3 years and 4 months.
- Possible to extend for another 2 years.
- Possible to apply for ‘indefinite leave to remain’ once in the UK for 5 years.
Fees For UK Tier 1 Entrepreneur Visa
|Online or by mail||In person outside UK|
|Applicant (if from Turkey or Macedonia)||£1,173||£927|
|All dependants||£1,228 each||£982 each|
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