An Overview of Tier 1
There are five relevant Tier 1 streams: General, Post Study Work (PSW), Exceptional Talent, Investor, and Entrepreneur.
- Tier 1 General was closed to new applicants in April 2011. Existing holders of Tier 1 General are still able to apply to extend their visa for further periods of three or two years, dependant on the initial period granted.
- Tier 1 General holders become eligible to apply for settlement after 5 years. Newly introduced legislation requires applicants to score points when applying for settlement under this route: we await a legal challenge to this.
- Tier 1 Post Study Work (PSW) will close in April 2012. Until then, it offers recently graduated international students the possibility to live and work, either employed or self-employed, in the UK for two years.
- Tier 1 Exceptional Talent was opened in August 2011. The fact that the annual limit on this route is to be capped at only 1000 (700 within the field of science and 300 within the field of arts) is indicative of the level of competition that we would anticipate for this route.
- Tier 1 Investor requires a minimum investment of one million pounds within the UK. It results in Settlement after five years, or as little as two years if a greater amount is invested.
Tier 1 Entrepreneur
- Tier 1 Entrepreneur is a route that is being actively promoted and encouraged by the UK Government. It is attractive and achievable to many who are interested in living and working in the UK.
- The required investment is a minimum of £200 000. However, it should be noted that two applicants can come together as a 'team' and pool this amount of money between the two of them.
- Tier 1 Entrepreneur is initially granted for three years, after which applicants may apply for an extension of a further two years
- In order to qualify for an extension after the initial three year period, applicants must be able to show that a minimum of two new jobs resulted from their business activities.
- Tier 1 Entrepreneur holders become eligible to apply for settlement after five years, or three years under the accelerated route.
- Dependants of Tier 1 Entrepreneur have the right to live and work in the UK
- Tier 1 Entrepreneur holders may spend as much as six months of the year outside the UK
- At White Rose Visas, we work with potential applicants to ensure a successful Tier 1 Entrepreneur experience: from planning, initial application, extension, through to settlement.