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The Entrepreneur Visa
- Period and conditions of stay
- Residential requirements and Indefinite Leave to Remain
- Obtaining British Citizenship
- What to invest in?
- When to invest?
- What is “money is disposable in the UK”?
- Documentary requirements
- Services we provide
- Why us?
- Our Fees
The Tier 1 (Entrepreneur) category is for high-net-worth individuals who want to make a substantial financial investment in the UK.
You do not need a job offer to apply in this category. Home Office will assess the application based on your ability to invest £200,000.00 or more in the UK.
Period and conditions of stay
The grant of visa in the Tier 1(Entrepreneur) category grants you the right to enter and remain in the UK initially for 3 years. Once the initial grant of visa has been obtained, the visa can be extended for another 2 years after which a permanent visa, called Indefinite Leave to Remain, can be obtained.
In cases where the turnover of the company is over 5,000,000, or it employs 10 people, the investor is able to apply for Indefinite Leave to Remain at the end of the 3 years without the need for a further extension.
On the initial application, you would need to demonstrate by way of documentary evidence that you:
(a) Have money of your own under your control held in a regulated financial institution and disposable in the UK amounting to not less than £200,000.00;
(ii) Satisfy the English Language Test;
(iii) Have the required maintenance funds.
Thereafter, in order to obtain extensions or to apply for Indefinite Leave to Remain, you would need to invest the money in permitted investments within 6 months of grant of the initial visa or within three months of entry into the UK, provided you can prove by way of a passport stamp or boarding pass the date that you entered the UK.
Residential requirements and Indefinite Leave to Remain
In and of itself, the Tier 1(Entrepreneur) visa does not have a residential requirement – you are not restricted in the amount of time you can spend outside of the UK while on this visa. In theory, the Investor visa can be perpetually extended every two years after the initial grant of leave as long as you continue to satisfy the category’s requirements, which, in a nutshell, means maintaining the required level of investment.
However, if you want to obtain Indefinite Leave to Remain, you would still need to make sure that you are not absent from the UK for more than 180 days per calendar year of the relevant period of stay (5, or 3 years).
If you are planning to obtain British Citizenship thereafter, then there is an additional residential requirement to consider, which is discussed below.
The grant of Indefinite Leave to Remain frees you from immigration control. It means that you have the right to live in the UK without time limit; you can enter and exit the country at will and are able to avail yourself of all the benefits that a British Citizen has access to save voting and certain types of employment which are restricted to British Citizen only. As long as you do not leave the country for more than 2 years, you will not lose your Indefinite Leave to Remain in the U.K.
Most importantly, once Indefinite Leave to Remain is granted, the investment does not need to be maintained – you will be free to move your money as you please.
Obtaining British Citizenship
Once you have been granted Indefinite Leave to Remain in the UK for at least 12 months and your total stay in the UK is at least 5 years, you will be in a position to apply for British Citizenship.
In order to apply for British Citizenship, you would need to show that, during the 5 years preceding the application for citizenship, you have not been out of the UK for a total period of 450 days and, in the 12 months preceding the application, you have not been out of the UK for more than 90 days. This requirement differs from that of the Investor visa, which only requires the absences from the UK to be less than 180 days. Therefore, if you plan to apply for the British Citizenship, you would need to make sure that you satisfy the more stringent residential requirements for the British Citizenship.
What to invest in?
On the initial application you only need to demonstrate that:
- You have the money (£200,000.000 or more)
- The monies are disposable in the UK
- You meet the English Language Requirement
- You meet the maintenance requirements
You must invest the £200,000.00 in establishing a new business and creating at least two full time jobs for persons settled in the UK or,
Invest in an existing business and your investment has resulted in a net increase in the employment provided by the business or businesses for persons settled in the UK by creating the equivalent of at least two new full time jobs.
Investment in properties is not acceptable.
When to invest?
You would need to invest the money in permitted investments within a set period of grant of the initial visa or entry into the UK, provided you can prove by way of a passport stamp or boarding pass, the date you entered the UK.
What is “money is disposable in the UK”?
Money is disposable in the UK if all of the money is held in a UK based financial institution or if the money is freely transferable to the UK and convertible to sterling. Funds in a foreign currency will be converted to pounds sterling (£) using the spot exchange rate which appears on the website www.oanda.com on the date on which the application was made.
The Entrepreneur visa allows you to bring with you to the UK your spouse or partner and children. They will be able to remain in the UK with you and engage in studies or take a job if they so require. Their visas will be linked to yours so when you obtain a change of status to Indefinite Leave to Remain for example, they will be able to do the same.
Below, we set out the summary of documentary requirements. Please bear in mind that these are just a summary and a specific list of documents with exact requirements for each document will be provided upon instruction.
Demonstrating availability of money:
- Bank statements
- Letter from a regulated bank
- Source of funds
Services we provide
Our firm provides a full turn-key solution with a dedicated immigration team providing comprehensive advice.
1. We will advise on the documentation for each stage of the application process. We can, and sometime do, discuss the documentary requirements directly with your designated bank or financial institution representative if so required and authorised by you.
2. We check and assess the documents you provide. Our experience in the field allows us to quickly and easily determine any shortcomings and any additional documentary requirements, if any.
3. We will assist and complete the entire application process in co-operation with you
4. We will provide detailed letter(s) with representations as to fact and legal argument to substantiate your application highlighting the benefits for the Home Office. We will also demonstrate how and why you satisfy the requirements of the relevant Immigration Rules by reference to the documents and specific provisions of the Rules
5. We lodge all the relevant applications on your behalf.
6. We regularly chase up the Home Office or a decision on your case to ensure that a decision is reached in the quickest possible timeframe.
Saracens Solicitors have immense experience on this field. We have prepared numerous applications of this type and our immigration team, between them, has numerous years of experience working in the field. Our rate of success speaks for itself – we have never had a Tier 1 application correctly refused, and those that were refused incorrectly were granted shortly after the refusal once the mistakes have been pointed out to the Embassy and Home Office. You can rest assured that you will receive the best service available.
Our fees for preparing Investor visa applications are very competitive – the difference is the service you will be getting. Whereas other providers will merely give you a general list of documents set out for the category – we provide a custom list suitable for your circumstances with exact requirements of what each document must contain. Whereas other providers will simply give you the application form to fill in – we will complete the form with you in a way that ensures the best chance of success. Whereas other providers will simply advise you on the immigration side of the venture – we are able to provide, through our network of trusted advisors, tax advice appropriate to your circumstances. Whereas other providers will conclude their services the moment your visa is obtained, we understand that your goal is not simply the obtaining the initial grant of entry – we therefore advise you on the necessary steps you would need to be taking throughout your stay to ensure that you can obtain extension, Indefinite Leave to Remain or British Citizenship, as you require. In short, we understand your needs and are able to cater for them and our fees reflect this ability.
We will provide you with a fee estimate following a consultation with one of our Immigration Specialists.