One of the most important factors when applying for a Tier 1 Entrepreneur Visa is a quality business plan. In your Entrepreneur Visa interview , you need to discuss your business plan in detail. When writing a business plan, you should bear this in mind and make sure that you know every detail of your business plan from start to finish. This will include knowing your forecasts and projections, the employees you will hire and the roles they will fill. Your Tier 1 Entrepreneur business plan should be produced with the advice of experts but you will need to know every detail of it before your interview. With IAS, your lawyer can advise you on the best options for writing a business plan and help you prepare for your meeting with the Home Office.
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Following a statement of changes to UK immigration rules issued on 7 March , the Tier 1 Entrepreneur Visa programme was closed to new applicants on 29 March This has been replaced by the new UK Innovator visa scheme. Please contact workpermit. If you would like to switch, or make a fresh application for the Innovator Visa, contact Workpermit. Alternatively, you could be eligible for other UK visas. 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. You also need to create two new jobs for settled workers.
It highlighted concerns about the quality of migrants entering the country via the entrepreneur route. In an attempt by the Home Office to limit abuse of the immigration system and to decrease the number of successful Tier 1 Entrepreneur Visa applications, changes have been made to the entrepreneur portion of the points-based system. The Genuine Entrepreneur Test is designed to ensure that those applying for a Tier 1 Entrepreneur Visa have the funds, skills and industry knowledge needed to fulfil the requirements set out by the Home Office.
They can either establish a new business or form a business partnership in an existing company. The Tier 1 Entrepreneur Visa is given for three years and four months. You are also allowed to share the same investment funds with another Tier 1 Entrepreneur Visa holder, by creating the Entrepreneurial Team.