Tier 1 Entrepreneur

To meet the requirements of this scheme you are required to achieve 75 points for attributes, 10 points for English and 10 points for maintenance.

Attributes

Required to demonstrate access to £200,000.00 transferable to the UK and an intention to invest into a UK registered company (non property related) and to be involved actively in the running of that company.

Documents required

Business plan showing generation of new employment for resident labour. Minimum requirement Loan agreement between entrepreneur and company Evidence of funds available and transferable to the UK

Evidence of English language (IELTS 6.5 or equivalent)

Maintenance

If you are applying from within the United Kingdom, the balance must show that you have had at least £800 in your account at all times over the last three-months prior to application. Dependants require an additional £533 to support each dependant as well as the funds needed for the main applicant. (If dependants have been in the United Kingdom for less than 12 months maintenance must be £1,600 each).

If you are applying from outside the United Kingdom, the balance must show that you have had at least £2,800 in your account at all times over the three-month prior to application. (Documentation cannot be more the 28 days old). Dependants require an additional £1,600 to support each dependant as well as the funds needed for the main applicant.

Obligations of applicant

  • Must have an intention of active involvement in the running of the UK Company.
  • Must spend a minimum of 9 months per year physically in the UK throughout the 5 year qualifying period.
  • Must maintain level of investment above £200k throughout the 5 year period.
  • Must maintain increased employment levels above 2 resident employees throughout the 5 years.