Startups and business owners around the world are always on the lookout for opportunities to scale their businesses and ventures. The UK is one of those countries that has made it relatively easy to open up a business in the country through its Tier 1 Entrepreneur Visa program. Find out in this article what exactly is required to obtain a Tier 1 Entrepreneur Visa from Pakistan and what benefits it offers.
Understand the Tier 1 Entrepreneur Visa Program
The Tier 1 Entrepreneur Visa Program is a UK government initiative that provides a route to UK settlement for non-EEA nationals who wish to start or invest in a business in the UK. The key requirements of the program are that applicants must:
- have access to at least £200,000 in investment funds
- be able to prove that they can speak English to an acceptable level
- pass an entrepreneurship test
- meet the other eligibility criteria set out by the UK Visas and Immigration (UKVI)
How to make sure you meet the eligibility requirements for Tier 1 Visa once again
There are strict requirements in place for those wanting to obtain a Tier 1 Entrepreneur Visa from Pakistan. To meet the eligibility requirements, you must:
-Be at least 18 years of age
-Have a valid passport
-Have access to £200,000 in funding
-Be able to prove that you have created two full-time jobs for people who are not related to you
To ensure that you meet the eligibility requirements for a Tier 1 Entrepreneur Visa from Pakistan, it is important that you consult with an experienced immigration lawyer. They will be able to review your case and help determine what steps need to be taken for you to successfully obtain a visa.
What are the benefits of Tier 1 visa?
There are many benefits of Tier 1 Entrepreneur Visa from Pakistan. This visa allows the applicant to stay in the United Kingdom for a period of up to three years and four months, with an opportunity to extend their stay for a further two years. The applicant can also apply for indefinite leave to remain (ILR) after they have lived in the UK for five years.
The main benefit of Tier 1 Entrepreneur Visa is that it allows the holder to set up or take over the running of a business in the UK. The visa holder can also bring their family members with them to the UK.
Other benefits of Tier 1 Entrepreneur Visa include:
-Visa holders are able to work in any job, at any level, including self-employment
-Visa holders are able to study in the UK
-Visa holders are allowed to switch jobs and start new businesses while on this visa
-After five years, visa holders may be eligible for Indefinite Leave to Remain (ILR) in the UK
Documents Required For Obtaining Tier 1 Visa
When applying for a Tier 1 Entrepreneur visa, you will need to submit the following documents:
- A valid passport or travel document.
- Evidence of your English language skills. This can be in the form of a degree certificate, or an English test certificate such as IELTS, TOEFL or PTE Academic.
- Evidence that you have access to at least £50,000 investment funds. This could be in the form of bank statements, investment portfolio overviews or business plans with supporting financial projections.
- An endorsement from a UK endorsing body if you are investing in a new business venture. Endorsement bodies include accelerator programs, seed funding competitions and government agencies.
- A business plan outlining your investment proposition and how you intend to use the investment funds to grow your business in the UK.
Important Facts To Remember Before Applying Tier 1 Entrepreneur Visa
Before applying for a Tier 1 Entrepreneur Visa, it is important to remember the following:
-The applicant must have £50,000 in investment funds available.
-The applicant must have a viable business plan that has been approved by an experienced visa advisor.
-The applicant must be able to demonstrate that they have the skills and experience necessary to run their business successfully.
-The applicant must pass an English language test at level B1 on the Common European Framework of Reference for Languages (CEFR).
Obtaining a Tier 1 Entrepreneur Visa from Pakistan can be a challenging process and requires an extensive amount of paperwork and evidence. However, if you can meet the basic requirements such as having adequate funds for investment and registering a business in the UK, then obtaining this visa should become easier. Everyone’s circumstances will vary but with knowledge of what is required it could make reaching your goal that much simpler. Good luck!