Switching from Post-Study Work to Entrepreneur visa: do I really need a contract? Update: a contract can be substituted with another document

By 1st 4Immigration - #1 UK Immigration Experts -
We had written earlier about contracts for an Entrepreneur visa, for those switching from a PSW visa. Here is an updated post following some changes in the Rules in the October policy guidance which we had confirmed by the UKBA policy department.

Such a switch (application inside the UK) has many strings attached. There had to be some, since 'only' £50,000 in funds is required, as opposed to the main amount of £200,000. 

So, if you are thinking of switching from a PSW to an Entrepreneur visa then you need to have a business already (or register one before you apply). Registration has to be in place together with things like appointed accountant, a business bank account, business insurance and if applicable, VAT certificate. 

Also, the services your business provides to the clients must be at min NQF level 4 from the Tier 2 Code of Practice (available in the UKBA website). This is the services your business provides rather than what you personally do in your business. 

As evidence of trading you have to indeed provide either a contract or a letter from the bank where you hold a business account, such a letter must be confirming that your business is trading. One of these things is compulsory but it is a change in the Rules, ie can be either a contract or a bank letter. Rather than strictly a contract, as it was before October 2013.  

If you happened to have both, ie both a contract and a letter, then even better because the UKBA may ask for extra documents during the process. And if you have more than one contract you should submit them all.

So, the minimum is either one contract or a bank letter. And if you have both, or more than one contract, you should submit more to make it easier for the UKBA.

For an individual advice or to make an application please contact us: info@1st4immigration.com or visit www.1st4immigration.com 

If you are an Immigration Adviser or a Solicitor please visit our immigration Training and CPD website: www.1st4immigration.com/training

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