Tier 1 Enterpreneur Fresh Application

[millennium11]

Hi,

I want to apply for Tier 1 Entrepreneur visa. Currently, I am in the UK on a PBS Tier 2 dependent visa. However, to apply for Tier 1 visa, I need advice on the investment funding and I am hoping someone reading this post could reply.

1. Can I show GBP 50,000 amount investment from Indian Bank as a business loan? I understand that to qualify for 50,000 amount limit, the funding should be from approved VC registered with FCA. Do the Indian banks fall under this category?

2. Also, Can I start my investment towards business while on PBS Tier 2 dependent visa and later switch to Tier 1 when I manage to get the required funding.

[CR001]

Why do you want to change visa category, especially a visa category that has more difficult rules?? Your clock towards ILR will reset to zero for ILR based on 5 years residence.

You are free to start your own business or do any work other than the restriction mentioned on your visa.

For £50k route, it is very specific what the funding requirements are. An Indian bank is not a FCA (which is a UK financial regulator) and is unlikely to qualify as a Venture Capital firm.

https://www.gov.uk/tier-1-entrepreneur/ ... ment-funds

You also cannot switch within the UK to Tier 1 Ent visa. You have to apply for entry clearance from your home country.

[millennium11]

Hi,

Thank you for your quick response. My husband is working here in the UK on Tier 2 ICT visa and I am his dependent so that does not lead to ILR since the COS was issued this year only.

Perhaps, I thought that applying for Tier 1 with me being primary applicant would lead to a path for ILR. Could you please suggest an alternate way if not Tier 1.

[CR001]

Tier 1 does lead to ILR, but it is a complex visa route and you have to still wait 5 years for ILR and meet the very strict requirements of the visa at each application stage. It is one of the PBS visa I have seen the most refusals for.

Have you read through the tier 1 ent guidance notes to understand the complexity of the requirements?

Might be simpler if you find a tier 2 general sponsor for yourself.