The Entrepreneur Visa is for those applicants who want to apply for UK Entrepreneur Visa (Tier1), have a business plan, and are already considered by an officially approved UK venture capitalist company.
The Entrepreneur Visa is for those applicants who want to apply for UK Entrepreneur Visa (Tier1), have a business plan, and are already considered by an officially approved UK venture capitalist company, an entrepreneurial seed-funding competition, or a department of the UK Government for investment funding.
Applicants may only apply from outside the United Kingdom, and the visa allows them to remain in the United Kingdom for up to six months to hold meetings and study on developing their company, but it does not allow them to start the proposed company. In the UK, an applicant can apply to transfer their visa to a Tier 1 Entrepreneur visa if they are prepared to do so.
Applications for entrepreneur visas are calculated using a points system; applicants who want to apply for UK entrepreneur visa must score a maximum of 95 points to obtain a visa. A detailed overview of how points are awarded is given below:
- Genuine Entrepreneur Test: That is a significant part of the application. A realistic business plan should be in place, and evidence and documents should be given to demonstrate that the applicant has the expertise and experience needed to operate a company. The claimant should be able to justify where they got the money.
- Ability to speak English: If the candidate does not have a certificate taught in English and is not a nation on the list of majority English speaking countries, the applicant would have to complete a B1 or above English exam successfully. If an English language exam is to be passed it must be equal to or above B1 level; it may be either academic or general training. In all 4 components of reading, writing, speaking and listening people need to achieve the correct standard.
- Certificates on criminal record: People would need to give every country in which they have lived for at least twelve months in the last ten years a criminal record certificate. This is mandatory for the spouse or partner, and any dependents over the age of eighteen. The certificates would have been issued within six months of application for a visa from the UK.
- Fund Maintenance: UK Entrepreneur visa applicants must have funds available to support themselves during their stay; the number of maintenance funds needed depends on whether the applicant is applying for an initial visa, or seeking an extension.
- Provided length of stay: Initially up to 3 years and 4 months, and with extensions up to 6 years and 4 months overall. The length of the visa extension depends upon the visa status of the applicant. Those transferring from another level to the Tier 1 Entrepreneur Visa will extend their visa for 3 years. All the others are only permitted to extend it for 2 years.