Immigration Law

How to Apply for Tier 1 Entrepreneur and Investor Visa under UK’s New Immigration System?

31st January 2020 marks Brexit – the United Kingdom exited the European Union. The government is set out to take control of its borders and has introduced a new immigration system from 1st January 2021. 

The system’s core is the “Points Based System” which aims to end free movement and attract highly skilled workers that contribute to the UK’s economy, communities, and public services. Its focus will be on prioritising skills an individual has to offer instead of their ethnicity or background.  

The system applies to both EU and non-EU citizens. From January 1st 2020, EU citizens require a visa to work in the UK – the same applies to Swiss nationals and EEAs (European Economic Areas). On the other hand, Irish citizens are still free to work in the UK without a visa. 

The UK’s Points Based System 

The Home Office leads the UK’s point-based system as part of a multi-year programme to bring change in border operations and the immigration system as a whole. These changes are implemented in phases (to maximise adaptability) and ensure that people travelling to the UK have permission before travel. 

In that light, many changes have been made to the Tier 1 Visa categories. 

Tier 1 Visas

The Tier 1 Visa is for “high-value migrants.” It holds the following visas: 

  • Tier 1 (Exceptional Talent): for individuals internationally recognised in arts or sciences. It is now also replaced by the Global Talent Visa.
  • Tier 1 (Entrepreneur): for individuals looking to run or set up a business or business in the UK, with access to at least £50,000. As of March 2019. This visa has been replaced by the UK innovator Visa. 
  • Tier 1 (Investor): The Tier 1 Investor visa category is for high net worth individuals capable of making a substantial financial investment in the UK. Investor visa holders can work, study and engage in business activities. They can also be accompanied by their dependants. The Tier 1 Investor visa typically leads to settlement in the UK after five years. Higher the investment, the higher your chances of getting settlement earlier.  
  • Tier 1 (General): for highly skilled workers. This visa is no longer available to people outside of the UK.
  • Tier 1 (Graduate Entrepreneur): for non-Europeans graduating from higher education institutes in the UK that are recognised for their entrepreneurial and innovative skills. Since 6th July 2019, this visa has been replaced with the Start-Up Visa. 

Family Members

Your family members (dependants) can join you in the UK, but they must apply for their own visas. Dependants include any of the following: 

  • Your spouse
  • Your children/child under 18 years of age 
  • Your children/child over the age of 18 if they are currently in the UK (as a dependant)

Savings

You must prove that you can support your dependents while they are in the UK. Each dependant must have money allocated to them in addition to the £945 for your own support. The amount varies – £1,890 for each dependant if you’ve been in the UK for less than 12 months, and £630 if you’ve been in the UK for more than 12 months. 

Proof consists of showing that you own money in your bank account or dependant’s bank account for 90 days or more before you apply for them to join you.

Fees

Per family member, the cost is £1878 for each family member. Biometrics, fingerprints, and photos cost £19.20. 

Why Choose Royce Legal Solicitors?

UK immigration law can seem complicated and therefore requires a specialist Royce Legal Solicitor. Our lawyers are here to help you and your family and make the entire process smooth sailing.

We have extensive expertise in immigration matters. Our committed corporate immigration law team is up to date on the changes in the UK immigration law and the “new” points-based system.

Royce Legal Solicitors cater to your requirements while providing you with the right legal advice and assistance. We believe in transparency and have fixed fees from the beginning. Contact us at 01157 210 202 or shoot us an email at info@roycelegal.co.uk for a successful immigration application. 

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