Tier 1 (Entrepreneur) visa

The entrepreneur visa, is for those wishing to set up or join businesses in the UK. this visa requires a £200,000 (£50,000 in some circumstance) investment as an individual or as a team of 2.  Under certain circumstances

Since the 6th of April 2015 business plan submission became a compulsory element of the all initial applications for a Tier 1 (Entrepreneur) visa.

An immigration business plan is quite different from a standard business plan which an entrepreneur would normally have for the smooth running of their business or to secure funding for their business

A complaint Tier 1 visa business plan will need to satisfy the genuineness test, which is of great importance in the Tier 1 visa decision process. At present about 50% of applications fail, and failure to meet the Genuine Entrepreneur Test is the most common reason of refusal.

The plan must therefore show the UKBA immigration officers that

  • you genuinely intend and are able to establish, take over or become a director of one or more businesses in the UK within the next 6 months;
  • you genuinely intend to invest the money you have stated as your investment amount
  • the money is genuinely available to you and will remain available to you until such time as it is spent for the purposes of your business or businesses;
  • you do not intend to take employment in the United Kingdom other than working in your business.

You will also need to show

  • your relevant experience in your proposed UK Industry
  • the credibility and breadth of your market research
  • your relevant academic qualifications
  • how your business will benefit the UK

Your business plan also needs to deal with the following:

  • Your market research and feasibility
  • How you plan to spend your investment
  • How you plan to provide at least 2 employments to the UK
  • The viability of your business