The Entrepreneur visa is now closed for new applicants seeking entry under this route. However, those who are already in the UK with leave as a Tier 1 Entrepreneur or dependent family member of a Tier 1 Entrepreneur can extend their visa until 5 April 2023. Applications to settle under this route (indefinite leave to remain) also remain open.
Extending or settlement (ILR) as an Entrepreneur migrant can be broken down into the following requirements: –
Investment. (Must show a minimum investment of £200,000 or £50,000 depending on the initial grant).
Job creation. (Must create the equivalent of at least two full time job roles for settled people during the applicant’s current grant of leave).
Registration. Must have registered as a Director with Companies House or the HRMC within six months of arrival in the UK.
English Language requirements/ Life in the UK (for settlement applications).
Continuation of business activity. Must continue to be named as a Director within three months of the date of submission.
Maintenance funds (for extension applications). Must evidence adequate maintenance funds for the Applicant and any dependants within 90 days of submission.
Genuine Entrepreneur test. Must provide evidence of genuinely operating their business throughout current grant of leave.
Applications for extension or settlement can be made by a single Entrepreneur or two individuals as part of an Entrepreneur team if they had previously been granted leave as an Entrepreneur team. If applying as an Entrepreneur Team all the requirements are shared between both applications. For example, the investment amount of £200,000 will be evidence by each applicant showing £100,000 of investment each.
If applying for your extension, a successful applicant will receive a further grant of two years. Upon completion of five years in total you may apply for settlement (ILR) subject to fulfilling all the criteria.
We understand many Entrepreneurs have been affected by the COVID pandemic which may have caused issues meeting the requirements for extension or settlement. The Home Office has provided certain concessions to those Entrepreneurs who have genuine been unable to fore fill the requirements of their visa due to the pandemic. MLC Immigration Lawyers have assisted many individuals successfully obtain their visa under these circumstances.