Granted leave to enter or remain as a Tier 1 (Entrepreneur) Migrant? What should I do now?
If you have recently been granted a UK Tier 1 (Entrepreneur) visa, then you need to be aware of the requirements that you will need to meet for an extension of stay in the UK in the Tier 1 (Entrepreneur) category in 3 years’ time. In this article, we provide an outline of the main requirements for an extension of stay as a Tier 1 (Entrepreneur).
Director or self-employed?
You will need to register as self-employed with HM Revenue & Customs, register a new company in which you are a Director, or register as a Director of an existing company within six months of your entry into the entrepreneur category.
The six month period will generally run from your date of entry to the UK as an entrepreneur (where you are able to provide evidence of this date) or the date on which you were granted leave to remain as an entrepreneur.
Following a recent change to the Immigration Rules, you must ensure that your investment funds remain available to until such time as they are spent by your UK business or businesses.
In order to remain available to you, your investment funds should remain in your possession, in the financial accounts of a UK incorporated business of which you are the director, or remain available to you from the third party or parties that were named in your application.
If the funds are not available to you because they have been completely invested in the establishment or running of a business or businesses in the UK, then this is of course not a problem in terms of the requirements of the Immigration Rules. However, if your investment funds cease to be available to you for any other reason, then the UKBA could curtail your leave to remain.
You should invest your funds in a business or businesses in the UK before you apply for an extension of stay. Money deposited in a bank account, even if it is in a United Kingdom business bank account, is not counted as investment in business. The money should be used in a business to encourage growth or expansion, to improve services or products and to ensure the business is profitable. The investment should also not include the value of any residential accommodation, property development or property management.
You should create the equivalent of at least two new full-time jobs for persons settled in the UK. The jobs should exist for at least 12 months before the end of your initial stay in the UK.
The employment created does not need to be in a single period but can instead be made up of shorter periods. It also does not need to be for any particular number of workers. Therefore, a single person may be employed for this time, or several people. However, the employment created must comply with UK employment regulations, including the working time directive.
You will probably already be aware that as someone with leave to remain as a Tier 1 (Entrepreneur) you are not allowed to access public funds and you cannot take any employment other than working for the business or businesses that you have established, joined or taken over. You may also be required to register with the police.
During the validity of your visa, you can leave the UK anytime if you wish. However, if you wish to obtain indefinite leave to remain (i.e. permanent residence in the UK), then you must spend at least 185 days in the UK in any consecutive 12 month period.
If you would like to apply for British citizenship in due course, then as a general rule you may spend on average no more than 90 days outside the UK each year and no more than 90 days outside the UK in the 12 months before you apply for citizenship.
There are various other requirements that you will need to satisfy when you apply for an extension of stay as a Tier 1 (Entrepreneur) Migrant in the UK. For further advice or assistance with preparing an application for entry clearance or leave to remain as a Tier 1 (Entrepreneur) migrant, contact our immigration barristers in Covent Garden, London on 0203 617 9173 or by email email@example.com