Tier 1 Entrepreneur Extension Advice

Optimus Law can assist you with tier 1 visa extension. Following the grant of your tier 1 Entrepreneur visa which would have been granted for an initial period of 3 years. Holders of the Tier 1 Entrepreneur visa may apply to extend their stay in the UK for a further 2 years as tier 1 Entrepreneur.

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The UK remains the most attractive destination in Europe for foreign business investment, winning almost 1,800 new projects in the past year.

Lord Livingston said “It shows that our strategy to attract investors to the UK by creating one of the most business-friendly environments in the world is the right one, and it is proof that foreign investors have confidence in the UK as the best place to do business,”

Do you want to Invest in the UK?

THEN LET US ASSIST YOU WITH MAKING YOUR UK TIER 1 INVESTOR VISA.

  • To qualify for a Tier 1 Investor visa you must want to:
  • Invest £2,000,000 or more in the UK
  • You are outside the European Economic Area (EEA)and Switzerland
  • be 18 or over to apply for this visa
  • be able to prove that the money belongs to either you or your husband, wife, unmarried or same-sex partner
  • have opened a UK bank account
Your funds must be:
  • held in one or more regulated financial institutions
  • free to spend (‘disposable’) in the UK

Your money can be in the UK or overseas when you apply.

 

Drop us a message via our contact form on the right to see how we can help you get a UK Tier 1 Investor Visa.

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The Application Process

For extending your Tier 1 Entrepreneur visa is, highly complex and involved. The criteria is very strict, and the requirements on you to provide full and accurate supporting documentation are stringent.

The demands can be exacerbated if, as a result of poor advice as part of your initial Tier 1 Entrepreneur Visa application, your supporting documentation has not been kept up to date.

Failure to present a comprehensive and complete application can lead to delays in a decision or even refusal.

Increasingly applicants are now being invited to attend an interview by the Home Office, to discuss in detail your application, your business and your activity during your stay to date.

To qualify for a Tier 1 Entrepreneur Visa Extension

The eligibility criteria to extend your Tier 1 Entrepreneur Visa requires that you:

  • have invested into 1 or more UK businesses either £200,000 in cash or £50,000 in cash if your initial application was based on having funds from an approved funding source;
  • are registered as a director or as self-employed no more than 6 months after the date you were given permission to stay in the UK under a Tier 1 Entrepreneur visa;
  • can prove you have been self-employed, a member of a partnership or working as a director of a business 3 months before you apply;
  • created at least 2 full time jobs that have existed for at least 1 year each.

What is the process for extending a Tier 1 Entrepreneur Visa?

If you are currently in the UK, you will need to complete an application form and provide the mandatory documents. This application will need to dealt with by post.

If located outside the UK, you apply online here.

You should apply to extend your visa before your current leave expires. You can stay in the UK while your application is being processed, provided you applied before your visa has expired.

Expect a decision to be made on your application within 8 weeks.

In some circumstances, you may be contacted if your application will take longer because:

  • your supporting documents need to be verified
  • you need to attend an interview
  • of your personal circumstances (for example if you have a criminal conviction)

Dependants of Tier 1 Entrepreneur

‌‌The dependants of a tier 1 entrepreneur will need to apply to extend their leave alongside the main applicant. This also includes children who have turned 18 during your stay.

What supporting documentation will be needed for Tier 1 Entrepreneur?

You should expect to submit extensive documentation in support of your application to extend your Tier 1 Entrepreneur Visa.

The specific documents you should submit will depend on your specific circumstances. Documents may include:

  • Filed business accounts and personal bank statements – mandatory detailing expenses,
  • Directors’ loan agreement – compulsory if the business was funded by a directors’ loan. The Home Office is looking for confirmation that the loan is unsecured and subordinated in favour of the third-party creditors.
  • Employees payslips – compulsory, and must show the number of working hours every month.
  • HMRC correspondence
  • Business insurance certificate

Prior to making the application seek professional advice to ensure you are covering all areas to give you the best possible opportunity to succeed with the extension application.

Indefinite leave to remain

You will qualify for indefinite leave to remain after the completion of your 5-year visa as a Tier 1 Entrepreneur.

In some instances, you may qualify for indefinite leave to remain at the completion of your initial leave of 3 years.  This is commonly known as the fast-tracked permanent residence after 3 years.

Fast track permanent residence can be achieved if your business has created 10 full time jobs in the UK for a total of 1 year each or your business turnover exceeds £5 million over the 3-year period.

Application refused

If your application is refused, you may appeal to extend your stay as a Tier 1 Entrepreneur using the Administrative Review Process, depending on the response you can challenge the decision by way of a Judicial Review application.

In some instances, you may qualify for indefinite leave to remain at the completion of your initial leave of 3 years.  This is commonly known as the fast-tracked permanent residence after 3 years.

Fast track permanent residence can be achieved if your business has created 10 full time jobs in the UK for a total of 1 year each or your business turnover exceeds £5 million over the 3-year period.

Other points to note

  • You will have to pay the healthcare surcharge as part of your application.
  • You must also provide your biometric information (fingerprints and a photo), which costs £19.20

Why Use Optimus Law

We have combined experience of over 30 years at Optimus law you should expect the following:

  • Direct access to you caseworker
  • Advice on eligibility & evidence in support
  • An honest merit assessment on the prospects of success
  • Assistance with completing your application & collating documentation
  • Application form & document check
  • Legal representation supporting the application