Tier 1 (Entrepreneur) visa – apply by 28 March 2019 to make it before the new rules!

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New rules for UK business visas will come in force on 29 March 2019 and apply if you are planning to apply for Entrepreneur visa for the first time.   
If you prefer the current Tier 1 Entrepreneur rules, you need to submit the online form and pay UK Government fees by 28 March 2019. You can submit the actual documents after that!


Summary of changes from 29 March 2019: 

#1 New categories:  Start-up and Innovator visas replace Tier 1 Graduate Entrepreneur and Tier 1 Entrepreneur respectively. Start-up is for those starting a business in the UK for the 1st time. Open to all, not just graduates on Tier 4 visas. 
Innovator visa is for experienced business people, and it will lead to settlement after minimum 3 years (or any time later when you have met the criteria). 

#2 Endorsement: is required for all applications, from initial visa to extension and ILR. The biggest change is your business plan won’t be assessed by the Government officials (who never run a business themselves) but by endorsing bodies, ‘business experts’. Who exactly - remains to be confirmed but they will be organisations like seed funding competitions. It is a logical development, although for the applicants it means working harder to ‘sell’ their business ideas. 
#3 Money: £50,000 for Innovators (down from £200,000 as was for Entrepreneurs) but cannot share within entrepreneurial team, i.e. need £50,000 per person. No minimum amount for Start-ups and potentially when switching from Start-up to Innovator. Of course, you still need enough funds to support your business plan. 

#4 English: up to B2 level.

#5 Business idea: the 3 criteria are as follows (they are not very specific, though): 
Innovation: genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage. 
Viability: necessary skills, knowledge, experience and market awareness. 
Scalability: structured planning and potential for job creation and growth into national markets (‘and international markets’, in case of Innovator visa).   

If you think your business idea isn’t likely to fit – apply before 29 March 2019 under the current rules! 

More details on our blog:
Detailed comparison table old rules versus new rules
New extension rules for entrepreneurs under new Innovator visa
New settlement / ILR rules for entrepreneurs under new Innovator visa
Dates and deadlines for Tier 1 and business visas

1st4Immigration team
1st4Immigration is one of the most experienced and prominent UK immigration law companies, accredited by the OISC at the highest Level 3. We have been in business for over 10 years, our OISC reference is 200800152, in which 2008 stands for the year accreditation. Office address: 68 King William Street, City of London, London, EC4M 7DZ.

To book an individual consultation with our lawyers, face-to-face, over Skype, phone or email, visit https://www.1st4immigration.com
                                                                           
We also provide immigration training and CPD for lawyers and those preparing for OISC exam. We have classroom/livestream courses and online self-study courses, accredited by CPD Standards Office, ref 80001, and accepted by The OISC. Visit our OISC training page here. 

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