Seeking guidance on Tier 1 Entrepreneur

Hello everyone,
I am looking to apply for Tier 1 Entrepreneur visa. I have a good friend who is also interested in the same program.
We both have fulfilled the requirements such as language, investment 200k (regulated bank and disposable in UK), maintenance fund 3310 and police clearance.
We both have built a comprehensive business plan.

1. Is it better to apply alone or as a partner?
2. If we partner, would the creation of 2 jobs count towards both members of entrepreneurial team?
3. If we acquire an existing business (100% stake) then do the existing jobs serve the job creation requirement? If answer is no, then any good suggestions will be appreciated.
4. Are the interviews being conducted for everyone or on case-by-case basis?
5. I shall welcome feedback from anyone who has applied as entrepreneurial team.
Thanks!

See answers to your questions in purple below:

cantek wrote:Hello everyone,
I am looking to apply for Tier 1 Entrepreneur visa. I have a good friend who is also interested in the same program.
We both have fulfilled the requirements such as language, investment 200k (regulated bank and disposable in UK), maintenance fund 3310 and police clearance.
We both have built a comprehensive business plan.

1. Is it better to apply alone or as a partner? It depends on you. If you have the funds then you can apply alone. If not, then applying as a team would suit you better. Your applications will be decided on seperately
2. If we partner, would the creation of 2 jobs count towards both members of entrepreneurial team? the two jobs will count for both of you because you would be a team so in reality, you can decide between yourselves to be responsible for one job each.
3. If we acquire an existing business (100% stake) then do the existing jobs serve the job creation requirement? If answer is no, then any good suggestions will be appreciated. Yes
4. Are the interviews being conducted for everyone or on case-by-case basis? On a case-by-case basis
5. I shall welcome feedback from anyone who has applied as entrepreneurial team.
Thanks!

@Jonser Sincerely appreciate your reply.
It is really helpful for myself and others here using this board.

You answered 'yes' to my third question but in fact a lawyer told me 'no' because even if you acquire any existing company, it should be new jobs which you will need to create. Those that have already been working in the company will not count.

Entrepreneurial Team VS. Sole Applicant: Which one has better chances of getting approval or higher success rate?

Do we must need to have a joint bank account for the two of us with 200k?
We have individual accounts with 200k in each account.
Though we do not want to invest more than 100k each into the business.
We will need rest of the money for buying a residential property in UK.

Thanks again.

Your solicitor was right - only NEW, additional jobs will be counted.

Moreover, you need to be very careful - if you just "buy out" the previous owner of the business, the amount of money you pay to them for 100% of the business (or, in fact, a smaller %) will NOT count as investment and in order to successfully extend your visa you will have to invest further £200,000 in the business itself after you acquire it.

Sole application Vs Team chances - really depends on your backgrounds and skills but generally speaking Team applications are scrutinised and doubted more by the Home Office as they understand that the most common reason for pairing up as a Team is indeed applicants splitting the £200,000 between them, i.e. not willing to invest the whole amount.

Hope this helps. Let me know if you are considering joining an existing business (rather than buying 100% of one) - I could assist.

hi ,

Julia,

i am looking for any existing business to join in. i am single applicant with 200 k route. can u help ? contact me at personal contact information removed by moderator
thx and regards

Hi Pakistan1

Yes I can... But looks like moderators don't like people getting in touch away from here.

Dear moderators, can you suggest a way for us to exchange contact details? Perhaps a PM facility can be "opened"?

Many thanks

JuliaTE1 wrote:Yes I can... But looks like moderators don't like people getting in touch away from here.

It is for members personal safety that personal information is removed as on a public forum, anyone can be anyone and scammers are always on the lookout, particularly when members post they have access to £200k.

You appear to have two usernames with very similar email addresses registered, which is also not permitted. I also hope you are not an organisation trying to solicit business/financial partners from this website and its members.

My account was deleted once and I had to register again. Thank you for opening PMs