The United Kingdom of Great Britain is a country which is situated in western Europe, surrounded by the Atlantic Ocean and serves as a home to an estimated 65.6 million inhabitants as of 2016. The United Kingdom is one of the most preferred destinations across the globe when it comes to immigration. A lot of people immigrate to the UK every year with the prospect of achieving greater strides in life. UK Tier 1 Program is one which you should definitely consider if you are looking to immigrate to the United Kingdom.
What is UK Tier 1 Program?
The UK Tier 1 Program or the UK Tier 1 Entrepreneur Visa is for those individuals who wish to establish and run a business in the UK. UK’s economy has shown great strides for the past few years with the help of foreign investment. Like all other investment programs, UK Tier 1 Program to has certain eligibility requirements to be met.
Eligibilities for UK Tier 1 Program: –
- The applicant should have access to £ 200,000 and it should be obtained in a legal way.
- Any dependant coming along with the applicant should be aged below 18 years.
- Clearance of IELTS examination obtaining standard scores is mandatory.
- The applicant should show proof that he/she has enough funds for his/her family.
- The candidate has to undergo a Tuberculosis test (Applicable for listed countries).
- The candidate should not have held any criminal record before if he/she wishes to immigrate through the UK Tier 1 Program.
Important Things You Should Know About UK Tier 1 Program: –
- The applicant can start off with a new business or take over one or more running businesses with the funds he/she has.
- The candidate’s business establishment can be a Solo Ownership or Co-Partner.
- The applicant can start a business by adding a partner (joint venture) where the candidate and the partner should invest 100,00 pounds each.
- The candidate can also become self-employed and work for his/her own business.
- The candidate can get a permanent residence after a duration of 5 years.
- The candidate can get his/her passport after a period of 7 years.
- The processing time takes around a period of 4 months.
- The candidate should apply 3 months in advance before he/she travels.
- A candidate with the UK Tier 1 Entrepreneur Visa can stay up to a maximum period of 3 years & 4 months.
- The candidate will be eligible to extend the visa for another 2 years if he/she is already in this category.
- The candidate will be able to apply for permanent settlement (indefinite leave to remain) once the candidate has been in Canada for 5 years.
To know more about UK Tier 1 Program, get in touch with our experts.