Tier 1 Entrepreneur: An Overview
Tier 1 Entrepreneur is a route that is 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 the required amount of money has indeed been invested, and 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.