Tier 1 Graduate Entrepreneur

Tier 1 Graduate Visa Application ****CHANGES***The Tier 1 Graduate Entrepreneur visa is being replaced with the new Start-up visa.

The visa requirements?

· You must have been awarded a Bachelor, Masters or PhD degree.

· You will be required to demonstrate maintenance funds of £945 if applying from inside the UK or £1,890 if applying from outside. You have to show documentary evidence that you have held this full amount in your bank account for a consecutive 90 day period before you apply.

· You must demonstrate entrepreneurial and business leadership skills and commitment to making to the venture a success.

· You must have a credible, viable business idea that will be deemed to add to the UK economy.

How do I get endorsed?

Endorsement process is looking to verify that your business venture has the potential to make a valued contribution to the UK economy and that you are capable and willing to commit to making the business successful.

You must score points in the tables below:

Attributes: pass mark = 75 Points Points available

You have been endorsed by:

• a UK Higher Educational Institution (HEI) or the Department for International Trade (DIT). This is in the form of a letter. 25 You have been awarded a recognised:

• bachelor’s degree

• master’s degree, or

• Doctor of Philosophy (PhD) This does not include equivalent level qualifications if they are not a degree.

This qualification must be:

• a UK degree, or

• for overseas qualifications, the standard must be confirmed by UK NARIC. 25

Endorsement letter confirms that your endorsing body considers you to have a genuine and credible business idea and is satisfied you will spend the majority of your working time furthering this.

The endorsement must also confirm your intended business sector (points will not be awarded for businesses engaged in property development/management).

English language: pass mark = 10 Points available Evidence proving you:

• have English language skills to the required standard, and

• meet the requirements explained in this guidance. 10 Maintenance (money): pass mark = 10 Points available

To qualify for leave under Tier 1(Graduate entrepreneur) you must show you have enough money to support yourself.

When you make your application, refer to the following Immigration Rules. Appendix A of the Immigration Rules for further information on Attributes. Appendix B of the Immigration Rules for further information on English language.

There are no restrictions on working hours or working for another employer.

Can I switch or do I have to leave the UK to apply?

With a Tier 1 visa, you can apply to ‘switch’ to the graduate entrepreneur visa. You will need top apply before your current leave expires.

Duration of Visa:

The visa is issued for a maximum period of 12 months. After 12 months you have the option to extend the visa for a further 12months. You could apply to switch to the Tier 1 Entrepreneur visa. The benefit of this route is that you can apply with reduced investment funds of £50,000.

This visa does not directly lead to UK settlement but you can considers switching to Tier 1 Entrepreneur route and may become eligible under this route to qualify for settlement after 5 years.