The basic purpose of awarding Tier 2 General Visa is to support entrepreneurial activity in the UK. Therefore, if you live outside the UK and belong to an EEA country, it is your best chance to apply for this particular visa. Nevertheless, the application process is relatively tough. Hence, the applicant must go through the requirements and eligibility criteria before applying for this visa.
Who is Eligible?
Only the EEA nationals who are residing outside the UK are capable of applying for this particular visa. If you fall into this category, there are chances that you may get leave to enter to live and work in the UK.
When to Apply for Tier 1 Entrepreneur Visa
You can apply for this visa at least three months before you are planning to travel to the UK. The visa processing may take not more than three weeks. The application process and fee may be different for each candidate, as it basically depends on the individual circumstances.
This visa is granted for not more than 3 years and 4 months. However, you can apply for an extension before the expiry of the visa. This will allow you to live in the UK for another 2 years if you qualify for such an extension.
It is possible to get an extension of three years if you want to switch from another visa category. Tier 2 Visa may also serve as a viable way to seek settlements- or ‘indefinite leave to remain. For this purpose, you need to live in the UK for at least 5 years.
What you are Allowed to Do?
After getting this visa, you can live in the UK for the period mentioned on the visa. You can also work there and earn your livelihood in a prescribed manner. Some of the other things that you are allowed to do in the UK include:
- You can start or take over a business in the UK
- Work as self-employed while running your business
- Sponsor your family members to come to the UK
Although you can live in the UK without any unnecessary restrictions, there are a few things that you are not permitted to do in the UK.
- You can’t work that is outside your business venture
- During normal conditions, you will not be allowed to seek public funds
The eligibility requirements for the Tier 1 Entrepreneur Visa include:
- The minimum age limit stands at 16 years
- You must have no criminal record in the country of your residence
- You must have access to a minimum amount of £50,000. This is the investment funds, which you will use to set up your business in the UK
- The funds should be available with single or multiple financial institutions
- You have the authority to spend these funds when establishing your business in the UK
- If you don’t belong to an English speaking country, you need to show proof that you meet the language requirements
- You are capable of supporting your stay in the UK