Many business people are interested in living and working in the UK, without the involvement of an employer. However, these people often wrongly believe that they will not be able to qualify for any such immigration routes, and subsequently do not pursue the matter any further.
One of these immigration routes that in the process is often overlooked is the Tier 1 Entrepreneur immigration route that is available to entrepreneur teams.
Tier 1 Entrepreneur teams
The Tier 1 Entrepreneur immigration route offers the opportunity for people to form entrepreneur teams. This will thus make it easier to qualify, than applying on your own.
Applicants can form an entrepreneurial team with one other Tier 1 Entrepreneur applicant. The investment funds for the application are shared, subject, of course, to strict criteria.
The £200,000 in Investment Funds criteria
This funds must either be your own or made available to you by third parties. Or they must be in a joint account with your spouse or partner. If the monies are in a joint account with your spouse or partner, they must also at the same time apply for the Tier 1 Entrepreneur visa.
The advantages of the Tier 1 Entrepreneur route for Entrepreneur teams
One of the main advantages of the Tier 1 Immigration route is that the entrepreneur team, and all dependants on this visa, can qualify for settlement in the UK after five years.
In cases where the team is able to create ten jobs, they may apply for settlement sooner. An example is where they created three jobs in the first year, three in the second year, and four in the third year. They can also qualify for the earlier settlement if they have a turnover of £5 million in three years.
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