Do you want to set up your business in the UK? Then see how you can apply for the UK Entrepreneur visa below. Also, if you wish to invest your funds in an already existing business, this Tier 1 Entrepreneur visa is for you.
Check all the requirements to qualify for the visa below.
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What is the UK Entrepreneur Visa (Tier 1)?
The Tier 1 Entrepreneur visa is for foreign nationals who desire to come to the UK to start a new business or join and invest in an established business.
Holders of this kind of visa can invite their families (dependants) to join them in the UK. Dependants could be partners or children below 18 years.
Further, Entrepreneur visa holders are prohibited from seeking or accepting paid employment in the United Kingdom unless they are employed by the company or companies that they have founded, joined, or taken over.
Eligibility Requirements | How to Qualify
To qualify for the UK Entrepreneur visa, applicants must:
- Be 18 or above.
- Have sufficient funds for investment.
- Be able to speak, read, and write English.
- Meet the UK maintenance requirements
What Documents Do I Need to Provide?
Below are the necessary documents you need to provide when applying for Tier 1 entrepreneur visa.
- Passport: a valid passport or other proof proving your nationality and identity.
- Bank statement to prove that you have at least £200,000.
- Proof that you are fluent in the English language.
Other documents include:
- Certified translation for documents that are not in English or Welsh.
- Tuberculosis test results if you are from a country that takes the test.
How Much Does the UK Entrepreneur Visa Cost?
The cost of an entrepreneur visa varies depending on your situation and where you apply.
- Applying for yourself = £1,021
- For your children and partner = £1,021 each person
- Other fees include a healthcare surcharge.
How Long Does the Entrepreneur Visa Last For?
The duration of an entrepreneur visa is three years and four months. You can extend this visa for another two years if you meet the requirements. See the guidelines to extend your Entrepreneur visa here.
Is the UK Tier 1 Entrepreneur Visa Still Available?
The UK entrepreneur visa is no longer available to new applicants. The application closed down on 29, March 2019.
Holders of this visa can extend theirs using this guide.