Fresh 200K visa application after 50K expiration?

Hello.

I am currently on a tier 1 (entrepreneur) 50K visa, obtained via the PSW route. It expires in November.

When I obtained the visa, my industry sector was booming and obtaining contracts for the work I do was not a problem. However, over the past 2 years the industry (engineering, oil and gas) nosedived and it's been a struggle to obtain work for my company, which resulted in my company not being able to fully satisfy the minimum 12-month employment (each) for 2 settled residents. Hence I will not qualify for an extension under my current visa

However over the past few months, with the help of family and some investments made back in my home country, I have been able to raise 200K. I would like to use this to go into a different business, and my question is...is this possible? I mean, is it feasible to go back to my home country and apply for the 200K visa, or is it impossible to obtain another tier 1 (entrepreneur) visa after one expires, even though they are in different categories, i.e 50K and 200K?

You are entitled to make further investment with the funds you have available.

Obie wrote:You are entitled to make further investment with the funds you have available.

Thanks for your response, Obie.

I appreciate I can make further investments into my current business, however, with the time I have left on my current visa I would be unable to satisfy the job creation stipulation (24 months minimum for 2 or more people) for an extension.

My question is: can I make a fresh out-of-country application (200K) to obtain another tier 1 visa?

Technically you can but I doubt it will be successful

I completely missed this post even though i was notified of it.

OP you are not entitled to make a fresh application under the 200k Route. I understand this may not be the news you want to hear.

You will not be assessed under Table 4 of Appendix A, unless 12 months has elapsed since you last had Entry clearance or Leave to remain as a Tier 1 Entrepreneur migrant.

Any new application you make will not be assessed under Table 4, but will be assessed under Table 5, and you will fall to be refused for not meeting the Job creation requirement.

I always advise Tier 1 Entrepreneur to prepare at least a year in advance.

You will have to wait for at least 1 year before you will be entitled to be assessed under Table 4.

wazobia wrote: I would be unable to satisfy the job creation stipulation (24 months minimum for 2 or more people) for an extension.

My question is: can I make a fresh out-of-country application (200K) to obtain another tier 1 visa?

You are wrong, you need only 12 month of Job creation for 2 people not 2 years for each.

Obie wrote:

wazobia wrote: I would be unable to satisfy the job creation stipulation (24 months minimum for 2 or more people) for an extension.

My question is: can I make a fresh out-of-country application (200K) to obtain another tier 1 visa?

You are wrong, you need only 12 month of Job creation for 2 people not 2 years for each.

Apologies, I perhaps didn't word that statement properly. What I meant to say was a combined 24 months minimum of job creation for two or more people.

Thanks for the response, and the explanation in the previous post.