The scope and range of Tier 1 Entrepreneur Visa
Tier 1 Entrepreneur Visa for the UK is the legitimate route to setting up a new business activity or overtaking a currently active business. Like in case of other Visas for the UK, the Tier 1 entrepreneur Visa too come with its own diversified set of rules and regulations, and the applicant needs to strictly adhere to them. In order to apply for this type of Visa, the applicant should have a minimum of £50,000 to invest. However, taking the practical aspects, the prospective applicant should have £200,000 of available funds reflected in the centralised bank of his or her own country.
Furthermore, the applicant should be:
- Part of any one venture capital company, recognised by Financial Services Authority.
- Either one or more than one UK seed funding competitions, acknowledged by UK Trade and Investment.
- Exhibit the proof of receiving grant from either established government or the devolved government departments of Scotland, Wales and Northern Island.
Efficiency for the English language ability
It is good and profitable venture for applicants if they prove English language ability. For this purpose, the applicant needs to register and pass the prescribed format of test, and earn equivalent to level C1 as designated by the competent Europe’s Common European Framework for Language Learning. In case the applicant is coming from the country where English is the native language, he or she doesn’t need to give the test. If the applicant has a legitimate degree in English (as verified by using the National Academic Recognition Information Centre data), he or she doesn’t need to sit for the English test.
The applicants can only be successful for entry clearance, or leave to remain, as delineated under the rules and regulations of Tier 1, if strong proof of funds is provided. In case of any misappropriation on the part of applicant is seen, there are fair chances that his or her Visa application is forfeited.