The Tier 1 Entrepreneur route allowed applicants to come to the UK to set up a business and invest £200,000 or £50,000 from an approved funding source.
Due to the new immigration rule changes coming from 29th March 2019, the government has decided to close this route for new applicants applying after this date.
Caroline Nokes, a Minister of State for Immigration Minister, said on 7th March 2019 that the Tier 1 Entrepreneur ‘’have attracted some high-quality businesses, but the Tier 1 Entrepreneur route also has a long tail of low quality projects which contribute little or nothing to the wider UK economy.’’ Instead, the UK Government has introduced two new routes:
- Start-Up Visa.
- Innovator Visa.
If you are already in the UK as a Tier 1 Entrepreneur, you have until 5th April 2023 to apply for an extension. To apply for settlement, you have until 5th April 2025.
If you are affected by the closure of the Tier 1 Entrepreneur route, contact WH Solicitors for help and guidance on your future options.