Extension Visa Requirements For Tier 1 Entrepreneur
Tier 1 Entrepreneur route is replaced by Start-Up visa and Innovator visa, therefore, closed for new applicants. This scheme was first introduced for overseas entrepreneurs planning to set up and operate a business in the UK.
Under the Tier 1 Entrepreneur route, it was possible to work on a business venture for 3 years and 4 months, apply for an extension, and obtain Indefinite Leave to Remain (ILR). Although this visa route is closed, existing Tier Entrepreneurs visa holders can apply for an extension of their visa in the UK.
Tier 1 Entrepreneur Extension
Holders of the Tier 1 Entrepreneur visa can apply for an extension until 5 April 2023. Upon the approval of the application, the visa holder will be granted an extension for 2 years.
In addition, the visa holders have until 5 April 2025 to make settlement applications as Tier 1 Entrepreneur. However, the extension requirements are extremely stringent, requiring the applicant to provide accurate documents and evidence in support of the application.
Extension of Visa – Requirements For Tier 1 Entrepreneur
The current holders of Tier 1 Entrepreneur can extend their stay if they meet the following requirements
- The visa extension applicant has made an investment of £200,00 or £50,000 in one or multiple UK businesses, the invested amount depends on the level of funds they mentioned in the initial application
- Credibly demonstrate that they are hired as a director or as self-employed in less than 6 months of arriving in the UK under the Tier 1 Entrepreneur scheme
- Prove that they are still self-employed or acting as a director for no more than 3 months before applying for a visa extension
- Their business venture has created two full-time positions for settled persons in the UK and these jobs have lasted for a minimum of one year
- The applicant has established a genuine business venture and intends to operate the business in the future
- They are competent to pass the English level test, CEFR Level B1 equivalent to IELTS 4.0
- The applicant does not intend to undertake employment and plans to work for the development of the business venture
- They are financially stable and can support themselves without recourse to public funds
The Tier 1 Entrepreneur extension requirements may vary depending on each individual circumstance.
Under the new point-based immigration system, the Tier 1 Entrepreneur visa holder has to score 75 points to qualify for the extension.
Applying For Tier 1 Entrepreneur Visa Extension
The applicant must apply online before the current visa expires to extend their stay. They will then need to book an appointment at the UKVCAS to prove their identity and provide biometric information.
It is important to apply for an extension before the current leave expires, particularly, before 5 April 2023. It takes about 8 weeks to get a decision on the extension application.
Seek legal advice to avoid making common mistakes and to make a successful application.
