Tier 1 (Entrepreneur) visas are ideal for entrepreneurs with some money to invest in the UK. If you have at least £50,000 to invest, you may be able to apply for this visa. In practice most people who apply will need to have £200,000 of available funds held in a regulated financial institution.
In order to qualify for a Tier 1 (Entrepreneur) visa, you must score 95 points on the Tier 1 points-based test. You will score points as laid out below.
Tier 1 (Entrepreneur) visa points-based assessment criteria
|You have access to £200,000 or more orYou have access to £50,000 or more from
You have access to at least £50,000 and
|Funds are held in a regulated financial institution||25 points|
|Funds are disposable in the United Kingdom||25 points|
English Language Ability
Applicants will score 10 points if they show that they are proficient in English. They can do so by proving one of the following:
- They have passed a test in English equivalent to level C1 of the Council of Europe’s Common European Framework for Language Learning (equivalent to a grade C or better at GCSE)
- Come from a country where English is the majority language spoken
- Have taken a degree taught in English (this is verified by using the National Academic Recognition Information Centre data)
Applicants from outside the country will score 10 points by proving they can support themselves.
In order to qualify for entry clearance, or leave to remain under Tier 1 an applicant must show that he/she has enough money to support himself/herself. The maintenance requirements are detailed below:
- Applicants outside the United Kingdom seeking entry clearance must have at least £2,800 of personal savings which must have been held for a consecutive 90 day period before the date of application.
- Applicants in the United Kingdom seeking further leave to remain must have at least £900 of personal savings which must have been held for a consecutive 90 day period before the date of application.
Tier 1 (Entrepreneur) applicants may not use any money included in their £200,000 investment as evidence of maintenance funds.