Switch from T1 GE to T1E 50K route

janred · Post by **janred** » Mon Mar 25, 2019 12:22 pm

Hello,

I plan to switch from Tier 1 Graduate Entrepreneur to Tier 1 Entrepreneur using the 50K route.The business plan is prepared and I intend to submit it in the first week of April 2019. I have the following questions:

1. I am in the 1st year of my Tier 1 GE and therefore qualify to switch to Tier 1 Entrepreneur (and not the new innovator)?
2. I have gathered 50K of my personal funds in my UK bank account. Do these funds need to follow the 90-day consecutive period?

Thanks for any advice.

zimba · Post by **zimba** » Mon Mar 25, 2019 4:03 pm

1. I am in the 1st year of my Tier 1 GE and therefore qualify to switch to Tier 1 Entrepreneur (and not the new innovator)?

You can switch to Tier 1E until 5 April 2019 5 July 2021. Requirements for Innovator visa are not known yet

2. I have gathered 50K of my personal funds in my UK bank account. Do these funds need to follow the 90-day consecutive period?

Yes

janred · Post by **janred** » Mon Mar 25, 2019 7:54 pm

That is helpful, thank you.

Regarding point 2, I do not fulfill the 90-day consecutive period unfortunately. But now, the money is in my account.Therefore I need 2 additional letters from third party:
1. A declaration from every third party that they have made the money available to invest in your business in the UK this declaration
2. A letter (or letters) from one or more legal representatives, who are neither you or your third party, which confirms that the letter(s) and declaration(s) from the third party or parties contains the genuine signatures of the required signatories

In the case above, I do not need the letter from the financial institution of third party? Is it correct?

zimba · Post by **zimba** » Tue Mar 26, 2019 12:56 am

Correct. Table C in the Tier 1E guide is VERY clear what you need.

thaicharoens · Post by **thaicharoens** » Tue Mar 26, 2019 9:13 am

You can actually switch into T1E from T1 Grad Ent until 2021. This applies even if you switch from T1GE into Start-up for your second year. So T1E will only be open for initial applications for Graduate Entrepreneur visa holders from 6 April.

From the Statement of Changes:

6A.11 After paragraph 245DB(s), insert:
“(t) The application must have been made:
(i) before 6 July 2021, if the applicant has ever previously had leave as a
Tier 1 (Graduate Entrepreneur) Migrant and is claiming points for an
initial application under Table 4 of Appendix A; or

7.14
• Tier 1 (Graduate Entrepreneur) migrants will be able to switch into the new Start-up
route if they have not yet had their maximum two grants of leave under the Tier 1
(Graduate Entrepreneur) route. If their Start-up endorsement is from the same
endorsing body as in their previous Tier 1 (Graduate Entrepreneur) application, their
business ideas will not need to meet the new Start-up criteria in relation to
innovation and scalability.

• Tier 1 (Graduate Entrepreneur) migrants (including those who switch into the Startup category as above) will continue to be able to switch into the Tier 1
(Entrepreneur) category until 5 July 2021. Tier 1 (Entrepreneur) extension
applications will remain open for these individuals until 5 July 2025, and settlement
applications until 5 July 2027.

zimba · Post by **zimba** » Tue Mar 26, 2019 4:32 pm

I do not know how I missed this part

but good call in pointing it out

janred · Post by **janred** » Tue Apr 09, 2019 2:35 pm

Thanks for your previous responses. I have a follow-up question but don't want to create a new post since it could be related. Hope it's ok.

Context: Switch from T1GE to T1E 50K route (funds in UK for less than 90 days, third party declaration)
Question: Do we need to mention the business name in the declaration letter for Third party funds?

Background: I am currently part of a UK-based startup and I have an understanding with my business partner that I shall join the business once my visa is sorted out. The startup is registered as a UK company but I do not have any shares or formal position as of now. I am using my personal funds for the visa.

I am in a dilemma now, if I can use the existing name of the business for the business plan and third part funding declaration for the application? OR is it wiser to use a new business name for business plan and other relevant documentation? What are the implications for both cases above during T1E extension? Is it allowed to mention a different business name during T1E extension, which is different that the business name used in the initial T1E application?

marcnath · Post by **marcnath** » Tue Apr 09, 2019 9:22 pm

janred wrote: ↑
Tue Apr 09, 2019 2:35 pm
Thanks for your previous responses. I have a follow-up question but don't want to create a new post since it could be related. Hope it's ok.

Context: Switch from T1GE to T1E 50K route (funds in UK for less than 90 days, third party declaration)
Question: Do we need to mention the business name in the declaration letter for Third party funds?

Background: I am currently part of a UK-based startup and I have an understanding with my business partner that I shall join the business once my visa is sorted out. The startup is registered as a UK company but I do not have any shares or formal position as of now. I am using my personal funds for the visa.

I am in a dilemma now, if I can use the existing name of the business for the business plan and third part funding declaration for the application? OR is it wiser to use a new business name for business plan and other relevant documentation? What are the implications for both cases above during T1E extension? Is it allowed to mention a different business name during T1E extension, which is different that the business name used in the initial T1E application?

I can't see any reason why you can't mention the business name. In fact, it might even help show your business plan as genuine.

Remember that you will need to create 2 ADDITIONAL jobs for your business plan / extension as you are joining an existing business.

janred · Post by **janred** » Tue Apr 09, 2019 9:40 pm

Thanks for the response.

marcnath wrote: ↑
Tue Apr 09, 2019 9:22 pm

I can't see any reason why you can't mention the business name. In fact, it might even help show your business plan as genuine.

Two reasons why I do not want to mention business name in the third party funding letter.
1. It may be construed that money is available to the business rather than to me as an individual and I have to produce companies house document and proof that I am a director.

2. I may need to add the name of my partner in the main application under the section "job creation"

Remember that you will need to create 2 ADDITIONAL jobs for your business plan / extension as you are joining an existing business.

Understood.

marcnath · Post by **marcnath** » Tue Apr 09, 2019 9:59 pm

janred wrote: ↑
Tue Apr 09, 2019 9:40 pm
Thanks for the response.

marcnath wrote: ↑
Tue Apr 09, 2019 9:22 pm

I can't see any reason why you can't mention the business name. In fact, it might even help show your business plan as genuine.

Two reasons why I do not want to mention business name in the third party funding letter.
1. It may be construed that money is available to the business rather than to me as an individual and I have to produce companies house document and proof that I am a director.

2. I may need to add the name of my partner in the main application under the section "job creation"

Remember that you will need to create 2 ADDITIONAL jobs for your business plan / extension as you are joining an existing business.

Understood.

Ok. I was referring to naming the business in the business plan. You can’t mention it in the 3rd party letter. That is meant to show you have access to the money personally

janred · Post by **janred** » Tue Apr 09, 2019 10:18 pm

Thanks for the quick response.

janred · Post by **janred** » Wed Apr 10, 2019 6:43 am

Hello,

I assume that the new UKVCAS system allows applicants to upload documents online. In that context, I will need a digital version of the third party letter and not the original one. Is that correct? I just want to save time and also avoid losing the document in international post.

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