Archive for Tier 1

Opportunity knocks & rocks in the UK under the PBS Tier 1 Entrepreneur

 

Immigration Minister Mark Harper said:

The UK remains open to the brightest and best – genuine entrepreneurs with the ideas and motivation to drive economic growth will always be welcome in the UK.’

UK

 Although tough times are times are still here, there remains clear indications from various forecasts that the economy is now moving ahead. It is predicted there will be a gradual recovery to the UK economy. There are real opportunities for investors and entrepreneurs who want to invest in the UK by setting up or taking over, and being actively involved in the running of, a business or businesses here.  The entrepreneur visa is designed to enable the brightest and best to come to the UK to set up and start trading.

UK trade & investment website quotes

“The UK is the ideal location for entrepreneurs to achieve growth and success. With a rich history of innovation and a dynamic business environment, we value entrepreneurs in the UK – and we’re pulling out all the stops to make things work for business”.

 The Requirements -PBS

The flexibility of the Immigration rules has been revised to allow applicants to use money invested in a UK business while they were here in a different immigration category. Applicants will need to meet the points score.  Under Tier 1 (Entrepreneur) applicants must score at least 75 points for attributes. They must have access to not less that £200,000 or not less than £50,000 if planning to switch into this category if they qualify.  £50,000 can come from a Venture Capital firm, Seed Funding Competition or UK Government Department/Devolved Government Department. The funds must be held in a regulated institution, (Appendix A of the Immigration Rules); 10 points for English language (Appendix B of the Immigration Rules); and10 points for Maintenance (funds) (Appendix C of the Immigration Rules).

The Procedure – Applying

If the Applicant is outside the UK the applicant(s) will need to make an application for entry clearance. Applicants who are in the UK, who are in the categories (see below) qualified to switch will need to apply for further leave to remain. Applicants who are in the UK in the following categories can apply to switch into this category and apply for further leave. They must have access to the funds mentioned.  Successful applicants switching will initially be granted 3 years leave.

 

a highly skilled migrant;

a Tier 1 (General) migrant;

a Tier 1 (Entrepreneur) migrant;

a Tier 1 (Investor) migrant;

a Tier 1 (Post-Study Work) migrant;

a Tier 1 (Graduate Entrepreneur) migrant

a Businessperson;

an Innovator;

a Work Permit holder;

a Writer, Composer or Artist;

a Self employed Lawyer;

a participant in the International Graduates Scheme (or its predecessor, the Science & Engineering Graduate Scheme);

an Investor;

a participant in the Fresh Talent: Working in Scotland Scheme;

a Tier 2 migrant;

a Prospective Entrepreneur.

 

 

        The following categories below can also apply to switch into Tier1 Entrepreneur

a Tier 4 migrant;

a Student nurse;

a Student;

a Student writing up a thesis;

a Student re-sitting an examination;

a Postgraduate Doctor or Dentist;

 

 

On 31 January 2013 the Immigration Rules changed to tackle abuse on this route, while leaving genuine entrepreneurs unaffected.

The changes are:

 Where we have concerns, we may ask you to demonstrate that the funds you have used to apply remain available to you beyond the date of your application. The funds must continue to be available to you until they are spent by your business or businesses. ‘Available to you’ means that the funds must be:

(1) In your own possession; or

(2) in the financial accounts of a UK incorporated business of which you are the director; or

(3) available from the third party or parties named in your application (if applicable).

 If you are applying on or after 31 January, the declaration from your third party funds donor must confirm that the funds will remain available to you until they are used

 It is useful to note that money for investment can be shared by a team of a maximum of two Entrepreneurs. Each team member may apply to come to the UK as a Tier 1 (Entrepreneur) using the same investment funds. Neither applicant must have used the same funds with any other applicant.  Applicants will need to provide all the documents needed for evidence.

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