Home Office issues new guidance for Tier 1 entrepreneur visas

This week the Home Office has issued new guidance for Tier 1 Entrepreneur Visas. The Entrepreneur Visa is for non-EEA entrepreneurial citizens who want to come to the UK to set up or take over an existing business. Specifically the guidance looks at visa applications and the points based system so is of interest to applicants for Entrepreneur Visas as well as top London immigration solicitors.

The eligibility criteria for an Entrepreneur Visa is:

• Minimum score of 95 points on the Home Office Immigration points-based system; and

• Non EEA national; and

• Setting up or taking over a UK business; and

• Access to the required level of investment funds; and

• Able to be financially independent in the UK; and

• Over 16 years of age and meet the English language requirements or test.

Of course, the essential crux of a Tier 1 Entrepreneur Visa application is the plan to set up a business or takeover a business in the UK. The rules surrounding the setting up or taking over of a business to secure an Entrepreneur Visa are complicated.

OTS Solicitors advise on all aspects of business immigration and have substantial expertise in securing Tier 1 visas for entrepreneurs. As experts in business immigration, we make the process of applying for a Tier 1 Entrepreneur Visa as straight forward as possible so you can get on with business.

For advice on applying for a Tier 1 Entrepreneur Visa or any other aspect of business immigration law please call us on 0203 959 9123 to arrange an appointment to speak to one of our experienced London immigration solicitors who will be happy to help.

top London immigration solicitors advise that applicants for an Entrepreneur Visa need to score at least 95 points on the Home Office Immigration points based system. Home Office guidance breaks down how the points are allocated and assessed. The majority of the points are awarded for the business, with the remaining 20 points being allocated for investment funds and passing the English language criteria.

Entrepreneur Visas and excluded property businesses

Many foreign investors look at London as an excellent location to invest in commercial and residential property. However, the best London immigration solicitors advise that for the purpose of the Tier 1 entrepreneur rules, investment and business activity does not include investment in any residential accommodation or commercial property development. Property management and businesses based on rental income from property are also excluded.

Home Office guidance states that the entrepreneur’s business income must be generated from the supply of goods and/or services. Although, for the purposes of an Entrepreneur Visa, the business income cannot be derived from the increased value of property or any income generated from property it can be generated from operating a construction, groundwork or building company. The rationale behind the rule is to ensure that Entrepreneur Visa applicants are in business rather than investors in property.

In a global age, entrepreneurs may want to operate a business from a number of different countries. With the uncertainties over Brexit, many business owners are calculating the impact of Brexit when deciding on their future business location. However, to apply for an Entrepreneur Visa the business has to:

• Have its business premises in the UK or its registered office. If the company has no registered office, the head office of the business must be based in the UK; and

• Have a UK bank account showing transactions for the business that are current; and

• Be subject to UK taxation.

The business requirements for an Entrepreneur Visa are demanding and exacting. Furthermore, the Home Office requires very specific documentation to support the Entrepreneur Visa application, for example, business plans. top London immigration solicitors emphasise the importance of getting the business paperwork right as 75 out of the 95 required points are allocated to it on the Home Office Immigration points-based system.

Applicants for Entrepreneur Visas need to prove that they have access to either £50,000 of investment funds or £200,000 of investment funds or that they have invested the funds in the business within the last 12 months.

The best London immigration solicitors advise that the key to a successful Entrepreneur Visa application is preparation and supporting documentation. It is therefore crucial that applicants correctly evidence the investment funds. The evidence required by the Home Office depends on the type of investment funds the applicant is using. Failure to adhere to the strict Home Office guidance will result in the refusal of an application.

It is reported that nearly 50% of applications for Tier 1 Entrepreneur Visas are rejected. To the top London immigration solicitors that statistic is not surprising given the complexity of the application process, the points based system and the detailed and demanding evidence required to support the application. As most entrepreneurs and business owners want to get on with business, it is sensible to get expert advice on the paperwork you will need to provide to secure an Entrepreneur Visa.

How can OTS Solicitors help?

OTS Solicitors advise on all aspects of business immigration and have substantial expertise in securing Tier 1 visas for entrepreneurs.

The legal directory of leading UK lawyers, Legal 500, recognises OTS Solicitors expert advice on business immigration. The firm is ranked for business immigration services. In addition, OTS Solicitors has Law Society accredited solicitors status as trusted specialists in Immigration law.