If you’ve been approved for a Tier 1 Entrepreneur Visa, it’s a huge achievement. It means you’ve successfully entered the UK and can now focus on building your business. However, the Tier 1 Entrepreneur Visa only lasts for three years and four months, which may feel like a short time to achieve your goals. To stay in the UK longer and eventually apply for Indefinite Leave to Remain, you’ll need to extend your visa for an additional two years. This guide will give you details on how to tips for extending your entrepreneur visa
To make sure you’re in the best position to extend your visa, here are three important tips for extending your entrepreneur visa:
- Invest Your Funds Properly
- Create at Least Two Full-Time Jobs for UK Workers
- Prove You Are a Genuine Entrepreneur
Let’s break these down further.
1. Invest Your Funds Correctly for a Tier 1 Entrepreneur Visa Extension
To qualify for a Tier 1 Entrepreneur Visa extension, you must show that you have invested the required amount of money into your business. This means either £50,000 or £200,000, depending on the circumstances. The investment should be made in your business, either as cash, share capital, or a director’s loan.
Here are a few important things to remember:
- You cannot use the investment funds for personal expenses.
- The investment must be used in a new business venture, not to buy an existing business.
- You cannot invest in property development, as this is not eligible for Tier 1 Entrepreneur Visa purposes.
- If you used a director’s loan, ensure there’s a written agreement showing the loan terms, including interest and duration.
Your business accounts must clearly show how the funds were spent, and if the funds came from a third party (e.g., a seed fund), you need evidence that they were invested in the business on your behalf.
2. Create At Least Two Full-Time Jobs for UK Workers
One of the key goals of the Tier 1 Entrepreneur Visa is to create jobs for UK residents. To extend your visa, you need to show that you’ve created at least two full-time positions (30 hours per week) for UK-settled workers during your initial visa period.
A few important points:
- The jobs don’t need to have existed for the full 12 months, as long as the total time across all jobs adds up to 12 months.
- These jobs must meet minimum wage and other employment laws.
- The jobs don’t need to be active at the time of your extension application, as long as they existed for 12 months during your initial visa period.
It’s crucial to keep accurate records of the jobs you’ve created to avoid your extension being denied.
3. Prove You Are a Genuine Entrepreneur
When applying for a Tier 1 Entrepreneur Visa extension, you must prove that you are a genuine entrepreneur. The Home Office needs to see that:
- You have actively operated your business (or businesses) in the UK.
- Your investment funds have been properly spent on the business.
- You intend to continue running the business and won’t be seeking other types of employment.
The Home Office will review several factors to assess your “genuineness”:
- The source of your funds must be credible.
- Your business financial accounts must be accurate and credible.
- Your business activity in the UK must be genuine and sustainable.
- The jobs you’ve created must meet the criteria.
- You must comply with any required registrations or insurances.
To make sure your application meets all these requirements, it’s highly recommended to work with an experienced immigration lawyer.
Extending your Tier 1 Entrepreneur Visa is a significant step toward achieving long-term residency in the UK. To ensure you meet all the necessary criteria for a successful extension, it’s essential to invest your funds correctly, create jobs for UK workers, and prove you are a genuine entrepreneur.
At Law and Visas, we specialize in helping entrepreneurs navigate the complexities of the visa extension process. With our expert guidance, you can avoid common mistakes and increase your chances of a successful application.
If you’re looking to extend your Tier 1 Entrepreneur Visa, get in touch with Law and Visas today to ensure your business meets all the requirements for a smooth extension process.
How Law and Visas Can Help?
At Law and Visas, our team of expert immigration consultants is here to make your travel to the UK straightforward and successful. Whether you’re applying for a UK Spouse Visa, Tier 2 Work Visa, Tier 4 General Student Visa, Tier 5 Youth Mobility Visa, or an Entrepreneur Visa, we handle every step—from preparing your application to gathering the required documents. We also provide expert tips for extending your Entrepreneur Visa to help you navigate the process smoothly.
Our immigration lawyer consultants and Lawyers ensure that your application meets the highest standards, with no details missed. We’ll also keep you informed throughout the process, coordinating with the immigration office or embassy on your behalf.
Law and Visas has a strong record of helping clients secure the visas and permits they need for international travel. Call us today at +234 812 5505 986 to learn how we can assist you.
