Non-EEA nationals who wish to set up a business in the UK or join an existing business can apply under the Tier 1 (Entrepreneur) category.

Applicants must show that

• They have access to £200,000 or access to not less than £50,000 from:
- One or more registered venture capital firms regulated by the Financial Services Authority - One or more UK entrepreneurial seed funding competitions which is listed as endorsed on the UK Trade and Investment website - One or more UK Government departments, and made available by the departments for this specific purpose of establishing or expanding in business in the UK AND
• the money is held in one or more regulated financial institutions AND
• the money is disposable in the UK.

The Immigration Rules were amended in April 2011 to allow for the £200,000 funding threshold to be reduced to be £50,000 where the funding is provided by a venture capitalist, a Government department or a seed competition. Up to two business partners will be able to use the route if they have equal access to funding.

If successful, applicants will be granted a visa in this category for an initial period of three years and four months with an option to extend in the UK to bring the total stay to 2 years. In addition, applicants will be permitted to be absent from the UK for up to 180 days in any 12 month period without jeopardising an application for settlement.

Funding

Applicants may include money made available by one or more other people known as third parties who may include family members as well as other investors or corporate bodies.

Applicants must show that they have invested not less than £200,000 (or £50,000 if in the last grant of leave, were awarded points for funds of £50,000 from one or more venture capital funds regulated by the FSA; one or more UK entrepreneurial seed funding competition; or one or more UK Government departments). The investment would have had to take the form in cash directly into one or more businesses in the UK. The investment should not include the value of any residential accommodation or property development or property management or be in the form of a directors loan unless it is unsecured and is unsubordinated in favour of a third party creditors.

English Language Requirement and Maintenance

In order to qualify for Tier 1 (Entrepreneur), applicants will also need to satisfy an English Language requirement and pass an approved English language test.

It is a mandatory requirement for Applicants to show that they have had excess of a minimum of £2,800 for 90 consecutive prior to the date of the application.

Extension

In order to qualify for an extension, Applicants will be required to submit audited accounts (or unaudited accounts and an accountant's Certificate of confirmation) and evidence of the UK business. Within six months of entry to the UK, Applicants will have to have registered as self employed with HM Revenue & Customs, registered a new company in which you are a director, or registered as a director of an existing company. It is necessary to demonstrated that Applicants have been engaged in business activity at the time of the extension application and that this covers a three month period before the date of the application.

The investment must have also led to the creation of at least two new or full time jobs for people who have settled in the UK and those jobs must have existed for at least 12 months.

Settlement

Non-EEA nationals must complete a continuous residence period of 3 or 5 years in an eligible immigration category before you can apply for settlement. It may be possible to apply for settlement after three years if:

• your business has created at least 10 new full-time jobs for settled people; or
• you have established a new UK business that has had an income from business activity of at least £5 million during a 3-year period while you have been in the UK under Tier 1 (Entrepreneur); or
• you have taken over or invested in an existing UK business, and your services or investment have resulted in a net increase of £5 million in that business's income from business activity during a 3-year period while you have been in the UK under Tier 1 (Entrepreneur), compared to the immediately preceding 3-year period

The continuous residence period is 5 years in all other cases. Applicants should not have been absent for more than 180 days in any 12 month period and the continuous residence period can include time spent in the UK as a business person or an innovator.