UK Entrepreneur Visa Extension Solicitors

The Basics of Tier 1 Entrepreneur Visa

The Tier 1 Entrepreneur Visa was previously a valuable route for foreign entrepreneurs wanting to establish or invest in UK businesses. Although this visa category is now closed to new applicants, there are modern alternatives desi-gned to cater to entrepreneurial talent, such as the Start-up Visa and the Innovator Visa. For individuals already holding a Tier 1 Entrepreneur Visa, applications for extension were only accepted up to 6th April 2023.

This visa aimed to attract ambitious individuals looking to create or join a business in the UK—whether as sole propr-ietors, partnerships, or with a registered UK company. To qualify, applicants needed access to funds. The primary route required at least £200,000 in available funds, while graduate entrepreneurs could apply with a reduced capital amount of £50,000.

The Tier 1 Entrepreneur Visa offered numerous advantages, which included the following benefits for successful applicants:

Living in the UK: Access to reside in the UK and immerse yourself in its vibrant business environment.

Running a Business: Permission to either establish or join a business venture, with an initial stay lasting 3 years and 4 months

Visa Extensions: The opportunity to apply for an extension, allowing for further development of the enterprise.

Family Inclusion: The ability to bring dependent family members, ensuring loved ones could accompany you in the UK.

Accelerated Settlement: Opportunities to achieve Indefinite Leave to Remain (ILR) in just three years for those meeting the requirements of creating at least 10 full-time jobs or generating £5 million or more in business income.

Although this visa pathway is no longer open, the UK remains committed to fostering entrepreneurial talent through alternatives like the Start-up and Innovator Visas. These options provide fresh possibilities for entrepreneurs to bring their ideas to life while contributing to the UK's economy.

Additionally, individuals may still apply for the Tier 1 Entrepreneur Visa if they meet certain requirements, such as already being in the UK on a different visa category and having access to at least £50,000 in investment funds. Regardless of which route is chosen, the UK offers a supportive and diverse ecosystem for entrepreneurs to thrive and succeed.

What Documents Do You Need for a UK Entrepreneur Visa Extension?

When applying for an extension of your UK Entrepreneur Visa, submitting the right documents is critical. Each piece of evidence you provide demonstrates your compliance with the visa conditions and your continued contribution to the UK economy. Below is a detailed list of the required documents, including their purposes and any specific requirements:

Financial Records

Purpose:

To verify that you have invested the required funds in one or more UK businesses.

What to Provide:

Bank statements confirming the transfer of funds.
Audited accounts of your business if applicable.
Evidence of the investment being used in business operations, such as receipts, invoices, or purchase agreements.

Specific Requirements:

The investment must meet or exceed the amount specified in your initial visa (e.g., £200,000). Ensure all financial documents are dated and clearly indicate the use of funds in line with your business activity.

Proof of Job Creation

Applicants must prove they are in a genuine and subsisting marriage, civil partnership, or long-term relationship with their UK-based sponsor.

If not already married, the couple should be planning to marry or enter a civil partnership within 6 months of the visa being granted (for Fiancé Visas transitioning to Spouse Visas).