Securing your Tier 1 Entrepreneur Visa Extension before the deadline is a crucial step for any businessperson wishing to continue their entrepreneurial journey in the UK. This visa extension allows you to stay in the UK for an additional two years, providing you with the opportunity to grow your business further. However, the process can be complex and time-consuming, requiring careful planning and preparation. This article will guide you through the process, offering valuable insights and tips to help you secure your Tier 1 Entrepreneur Visa Extension before the deadline.
Understanding the Tier 1 Entrepreneur Visa Extension
The Tier 1 Entrepreneur Visa Extension is designed for non-European migrants who have already been in the UK for three years under the Tier 1 Entrepreneur Visa. This extension allows you to stay in the UK for an additional two years, or even apply for indefinite leave to remain if you’ve been in the UK for five years.
However, securing this extension is not a straightforward process. It requires meeting specific criteria, including proof of investment in your business, creation of jobs, and a detailed business plan. Therefore, it’s essential to understand the requirements and start preparing your application well before the deadline.
Key Requirements for the Tier 1 Entrepreneur Visa Extension
To secure your Tier 1 Entrepreneur Visa Extension, you must meet the following requirements:
- You must have invested at least £200,000 into a UK business.
- You must have created at least two full-time jobs that have existed for at least 12 months.
- You must be registered as a director or as self-employed no more than six months after your original visa was granted.
- You must have a genuine and credible business plan.
- You must pass the ‘Genuine Entrepreneur’ test.
Meeting these requirements is crucial for securing your visa extension. Therefore, it’s essential to start preparing your application well in advance of the deadline.
Preparing Your Application
Preparing your application for the Tier 1 Entrepreneur Visa Extension can be a complex process. Here are some steps to help you prepare:
- Start Early: Begin preparing your application several months before the deadline. This will give you enough time to gather all the necessary documents and information.
- Investment Evidence: You must provide evidence of your investment in a UK business. This can include bank statements, financial accounts, or contracts.
- Job Creation: You must provide evidence that you have created at least two full-time jobs for settled workers in the UK. This can include employment contracts and payslips.
- Business Plan: You must provide a detailed business plan that outlines your business’s future plans. This should include financial forecasts, market research, and a marketing strategy.
- Genuine Entrepreneur Test: You must demonstrate that you genuinely intend to continue operating your business in the UK. This can include evidence of your business activities, contracts, and financial statements.
Submitting Your Application
Once you have prepared your application and gathered all the necessary documents, you can submit your application online. It’s essential to submit your application before your current visa expires to avoid any legal issues.
After submitting your application, you will need to book an appointment at a UK Visa and Citizenship Application Services (UKVCAS) service point to provide your biometric information (fingerprints and a photo). You will also need to submit your supporting documents either online or by post.
Conclusion
Securing your Tier 1 Entrepreneur Visa Extension before the deadline is crucial for continuing your entrepreneurial journey in the UK. By understanding the requirements, preparing your application early, and submitting all the necessary documents, you can increase your chances of securing your visa extension. Remember, the process can be complex and time-consuming, so it’s essential to start preparing your application well in advance of the deadline.
