The United Kingdom’s Tier 1 Graduate Entrepreneur Visa is available to you if you are an entrepreneur, an investor, or a business tycoon and you want to run your business in the United Kingdom.
The Tier 1 Graduate Entrepreneur Visa is a business visa that is issued for a period of one year to residents of overseas countries who are graduates and who have been officially endorsed as having a credible and genuine business idea to come to the UK to live and establish their business. The visa is issued to individuals who wish to come to the UK to establish their business and who have graduated from an accredited educational institution.
In addition, the United Kingdom’s Tier 1 Graduate Entrepreneur Visa is designed for “high-value migrants” such as investors and businesspeople who have the financial resources necessary to launch or invest in a company in the United Kingdom.
Graduates who have a business plan that has been approved and those who are considered to have exceptional talent within their area of expertise are also eligible to apply.
If you are qualified to apply for this visa, we will walk you through the application process step by step. However, we will still go over the eligibility requirements, the documents that are needed, and any other information that may be helpful to you in obtaining this visa.
UK Tier 1 Graduate Entrepreneur Visa Application Criteria
In order for you to submit an application for this visa, you will need to satisfy the following requirements, which are as follows:
• Refrain from accepting any money from the government.
• You are required to register with the authorities.
• Do not attempt to find work in the United Kingdom as a trainee physician or dentist.
• Applicants must demonstrate that they meet the requirements to hold an Academic Technology Approval Scheme (ATAS) clearance certificate. This requirement applies to applicants who are at least 18 years old when they are granted a visa or who will turn 18 before the expiration of their visa period.
• Do not try to make a living as a professional athlete in the United Kingdom.
Who is eligible to submit an application for the Graduate Entrepreneur Visa Tier 1?
In order to be eligible for a UK Tier 1 Graduate Entrepreneur Visa application, a foreign national must fulfil each of the following conditions:
• You need to be a foreign graduate of a school in the United Kingdom who has been recommended for entrepreneurial skills and has a business idea that is both genuine and brilliant.
• They are not allowed to be citizens of any of the countries that make up the European Economic Area (EEA) or Switzerland.
• You must be a foreign graduate of a school in the United Kingdom who is regarded as a leading figure in the business world and who is interested in launching a company in the United Kingdom.
• They are required to try to launch a company in one of the following sectors in the United Kingdom:
• Ownership by a Single Party; Partnerships;
• In a company that has its headquarters in the United Kingdom.
• Cannot have originated in either the European Economic Area (EEA) or Switzerland.
Options for submitting an application to be a Tier 1 Graduate Entrepreneur
There are three different ways for a non-citizen to obtain the Tier 1 Graduate Entrepreneur visa, which are as follows:
- By applying for a Tier 1 Graduate Entrepreneur visa.
2. Alternately, one could make the transition to Tier 1 Graduate Entrepreneur.
3. Through a further expansion of their Tier 1 Graduate Entrepreneur programme.
#1. By applying for a Tier 1 Graduate Entrepreneur visa
When the applicant is currently located outside of the UK but wishes to move there, they must submit this application. When this occurs, the individual must submit an application for an Entry Clearance or a visa in order to enter the country as a Tier 1 Graduate Entrepreneur.
#2. Simply by making the switch to Tier 1 Graduate Entrepreneur
This application is made when the candidate is already present in the UK on another temporary visa known as Leave to Remain and wants to switch to Tier 1 Graduate Entrepreneur from such a visa. This application is made when the candidate wants to switch to Tier 1 Graduate Entrepreneur from a visa.
#3. By broadening the scope of their Tier 1 Graduate Entrepreneur programme
This application is made when the candidate is already present in the UK with a Tier 1 Graduate Entrepreneur visa and wishes to extend their stay for an additional period of time. It is recommended that the request to extend one’s stay in the United Kingdom be submitted right before the end of the period covered by the current visa, and not after the visa has already expired.
It is important to keep in mind that there is no possibility of obtaining an Indefinite Leave to Remain (ILR) with this type of visa in order to permanently settle in the UK.
Instructions for submitting an application for a Tier 1 Graduate Entrepreneur Visa
When applying for a visa, there are two stages or steps that need to be completed in order. They are as follows:
• The stage of endorsing or validating the product.
• As well as the stage of applying for the visa.
#1. The stage of endorsing or validating the proposal.
During the stage known as endorsement or validation, one of the authorised bodies listed here will make the endorsement on your behalf:
• A higher education institution (HEI) that is recognised by the government as an authorised endorsing body
• The United Kingdom’s Department for International Trade (DIT), as a component of “The Elite Global Graduate Entrepreneur Programme” (Sirius)
Therefore, a foreign graduate of a school in the United Kingdom cannot be known for having a genuine and brilliant business idea or as an elite global entrepreneur if the aforementioned competent authorities do not first endorse them.
Get endorsement letter
If you choose to endorse any of the aforementioned bodies, you will receive a letter of recommendation. It is important that you are aware that the endorsement letter is not a visa or a formal application for a visa.
Rather, it is a document that demonstrates that the candidate’s education, capabilities, ideas, creativity, and entrepreneurial skills have been evaluated by competent establishments. Specifically, the establishments that have evaluated the candidate include: (UK HEI or DIT).
Prerequisites to Acquire an Endorsement Letter from a UK-Authorized Higher Education Institution
An endorsement letter from a UK higher education institution will be provided to a foreign UK graduate who satisfies the following conditions:
• You have a Bachelor’s, Master’s, or Doctoral degree that is recognised in the UK. Degree: A degree that is recognised by NARIC as being equivalent to that degree is also acceptable as a replacement for it.
• An original and brilliant concept for a business.
• The Willingness to Continue Working and Developing That Business Idea While Residing in the United Kingdom.
• Higher education institutions are permitted to confer honorary degrees on approximately 1,900 graduates per calendar year.
Prerequisites for obtaining an Endorsement Letter from the DIT
In order for DIT to give you the endorsement letter, you will need to demonstrate that you have satisfied the following requirements:
• Hold a degree that is comparable to that of a Bachelor’s degree in the UK.
• Have thoroughly developed the business idea and conducted the necessary research.
• Provides information about the applicant, the company, and other members of the team in response to the questions on the application form.
• Developed a Pitch Deck, which includes a description of the company as well as a business plan (a brief PowerPoint or Prezi presentation that includes the following sections: introduction, team, problem, advantages, solution, product, traction, market, competition, business model, and investing).
• Established a Business Team, typically consisting of no more than three members;
• Integrated hyperlinks to the individual LinkedIn profiles of all members of the business team.
• Composed a brief video to provide an overview of their proposed business.
• The DIT is permitted to endorse the majority of one hundred graduates each year.
The endorsement letter coverage
The following information should be included in or covered by the letter of endorsement:
• The identifier of the reference.
• The date of issuance and the duration of validity.
• The applicant’s full name, date of birth, country of origin, and passport number.
• Information for the candidate’s dependents (if applicable) (those inside the UK already and those seeking to join him).
• The name of the endorsing organisation as well as their contact information.
• The name of the authorising body of the endorsing institution, in addition to their contact information.
• The candidate’s name, the level of the degree earned, and the date it was earned.
• Information pertaining to the proposed new business, such as the business plan and the industry.
• The rationale behind endorsing the candidate in question.
• Independent verification that the candidate’s proposed business concept is both original and inspired.
• As well as evidence that the candidate intends to continue living and working in the UK in order to further develop the proposed business idea.
• Verification that the endorsing organisation is pleased with the progress the candidate has made in developing their business idea (only needed to apply for LR).
Other types of coverage include
• Candidates who are Endorsed receive a Letter of Endorsement from the same higher education institution (HEI) from which they earned their Bachelor’s, Master’s, or Doctoral degree. They are exempt from bringing proof of their level of education if they have a Bachelor’s Degree or higher (before they can be endorsed) (degree).
• Applicants who already possess a letter of endorsement from either the DTI or another UK HEI are required to also provide the following documentation:
• If the candidate has already graduated from an institution, the awarding institution must provide an original certificate of qualification. This certificate must include the candidate’s name, the title of the qualification, the date it was received, and the name of the institution that issued the qualification.
• The academic certificate: It must be official and original, with the name of the candidate, title of qualification, date of receiving it (or date they will be receiving it), and date of issuing certificate (if the candidate has not yet undergone the graduation ceremony), as well as a letter of confirmation from the issuing HEI for the impossibility to reproduce the certificate or awarding certificate of qualification: if the candidate has not yet undergone the graduation ceremony yet. • If the candidate has not yet undergone the graduation ceremony
• If the awarding certificate of qualification cannot be reproduced, the academic transcript must be the original and an official copy in order to be considered valid. The transcript must also include the name of the candidate, the name of the issuing HEI, the title of the course, and confirmation of the award.
• Academic reference from university – Is allowed as a substitute for documents above: The issuing university must be where the candidate took their degree, and it is acceptable only for candidates who qualify as exceptional research areas, i.e., a doctor, and they are unable to provide original documents, however, such reference must include the information above.
#2. The Application for the Visa
The applicant is required to submit their application for a UK Tier 1 Graduate Entrepreneur Visa once they have obtained a letter of recommendation from the relevant bodies. Therefore, the following steps will be taken during the application stage:
• Compile the Tier 1 Graduate entrepreneur document file.
• You must demonstrate that you meet the general requirements of the UK visa application.
• Acknowledge and accept the general grounds for refusal.
• You must have a total of 75 points for attributes
• You must have a score of 10 out of a possible 20 for your comprehension of the English language. The level of English is comparable to a B1 level. This requirement does not apply to the candidate under the following circumstances:
• The course work for their degree was conducted entirely in English, which satisfies the requirements set forth by NARIC for equivalency with a Bachelor’s, Master’s, or Doctoral degree from the United Kingdom. Degree;
• They have received accreditation from the same higher education institution in the UK from which they graduated with their degree.
• None of the following visas were ever issued to them:
• Tier 1 (Work After Completing Your Degree);
• As a member of the Fresh Talent Working in Scotland programme participants.
• A written statement from the sponsor indicating their unqualified approval of the visa application
• As a member of the International Graduates Scheme community.
• Sufficient funds to maintain a monthly expenditure of £945.
• As a graduate student who took part in the Science and Engineering Graduates Scheme.
• You must not have a previous record of overstaying your visa in the UK.
Tier 1 Visa Requirements for Applicants Holding a Letter of Endorsement from an Eligible Higher Education Institution
If a foreign national meets the following requirements, they are eligible to submit a visa application and receive a visa:
• The Bachelor’s, Master’s, or Doctoral degree that is recognised in the UK. Degree.
• A letter of recommendation from an accredited HEI.
• A letter of approval from the candidate’s financial sponsor, in the event that the candidate was a student who was receiving financial support from either the government or an international scholarship awarding institution (in the last year).
Conditions for obtaining a Tier 1 Visa for those who hold a DIT Letter of Endorsement
A person must be in one of the following circumstances for DIT to recommend them:
• A degree comparable to that of a Bachelor of Arts in the UK;
• Endorsement letter from DIT.
• A letter of confirmation from NARIC stating that a degree from another country is equivalent to a degree from the United Kingdom.
Instructions for Applying for an Extension of Your Tier 1 Graduate Entrepreneur Visa
In the event that a holder of a Tier 1 Graduate Entrepreneur Visa wishes to extend his stay in the UK or apply for a visa extension, the individual must follow the procedures outlined in the following paragraphs:
• They need to submit an application for a Leave to Remain (LR) under the Graduate Entrepreneur Tier 1 category.
• An additional period of up to six other years is the maximum length of time that can be granted by an LR under this visa category.
Requirements for Tier 1 Graduate Entrepreneur Visa Extension
In order to be eligible to submit an application for an extension of your Tier 1 Graduate Entrepreneur visa, you must satisfy the following conditions:
• You must be able to demonstrate that you meet the requirements to apply to be a Tier 1 Graduate Entrepreneur.
• Have a minimum of ten points for maintenance: the candidate is required to provide documentation to demonstrate that he has an emergency fund of $1,890 to support himself financially while he is in the UK.
• If the holder already has the authorisation to work as a postdoctoral researcher at the organisation that is providing the endorsement letter, this is a required qualification.
How to Change Your Visa Status to That of a Tier 1 Graduate Entrepreneur
If you are currently in the UK with one of the following visas: Tier 4 General Visa; or Tier 2 General Visa; you are eligible to switch to the Tier 1 Graduate Entrepreneur visa. You will be able to fulfil the requirements listed below:
• A letter of support from an approved higher education institution in the UK;
• Endorsement letter from DIT.
• Maintenance funds of £945 per month: If DIT Endorsement is going to cover such costs for the candidate, then there is no need for the candidate to show maintenance funds.
• The unreserved and unequivocal agreement in writing from the sponsor of the visa application.
• An accredited Bachelor’s, Master’s, or Doctoral degree from an institution in the UK.
• Information related to biometrics (fingerprints and photos).
Attributable factors in Tier 1 Graduate Entrepreneurship
Candidates who wish to apply for the EC or LR positions within Tier 1 Graduate Entrepreneur:
If the candidate possesses an endorsement letter from a UK Higher Education Institution (HEI), then they will be awarded 25 points; however, the HEI must have one of the following statuses in order to qualify.
• Sponsor Tier 4 visa holders.
• Licensed A-class Sponsor for Tier 2, the highest tier possible.
In addition, we are an A-class licenced sponsor for Tier 5.
• It is a degree-awarding institution that possesses the authority and competence to find, promote, and develop aspiring businesspeople among its undergraduates and postgraduates.
• A candidate receives a total of twenty-five points if they possess an endorsement letter written by the Department of International Trade (DIT) that endorses the candidate.
• Or 25 Points, if the candidate possesses a degree that is acknowledged in the UK and was obtained either in the UK or abroad, provided that it is regarded as being equivalent to a Bachelor’s Degree in the UK (only if confirmed by UK NARIC).
• If the candidate possesses The Endorsement Letter, which states that the candidate is qualified as having a genuine and brilliant business idea; and that they are ready to stay in the UK for working and developing that business idea in a specific business sector, which should be mentioned in the letter, they will receive 25 points. • If the candidate has a genuine and brilliant business idea, they will receive 25 points.
Financial Requirements for Tier 1 visa holder dependants
Applicants for a Tier 1 visa who want to be in the United Kingdom with their dependents are required to demonstrate that they can afford to support themselves and their dependents by having a certain amount of money in their bank account.
Therefore, the candidate should have the following money with them to cover the costs of sustaining their dependents while they are running for office. When applying from within the UK, the principal applicant must show that they have at least £945 per month, while when applying from outside the UK, they must show that they have at least £1,890 per month.
While they are required to show a minimum income of £945 per month when applying from within the UK and a minimum income of £1,890 per month when applying from outside the UK.
In addition to this, the candidate’s maintenance money must have been kept in their bank account for at least three months prior to the application.
Proof of documents pertaining to finances
You are required to provide evidence in the form of the following documents to demonstrate that you will be able to maintain your standard of living in the United Kingdom while caring for any dependents you may have. These documents are the following:
• Statements from a personal bank account or other financial institution that cover the period of time immediately preceding the application. These statements must cover three consecutive months.
• Pass Book for Financial Institutions: Must cover the three most recent consecutive months prior to application submission.
• A letter from a bank or another type of financial institution that is regulated: The Financial Conduct Authority (FCA) of the United Kingdom, or another home regulatory body, must regulate banks and financial institutions that offer savings accounts.
• DIT Endorsement Letter: This letter is required if the candidate already possesses some kind of Endorsement from DIT. This also covers the candidate’s and their dependents’ maintenance costs, so the applicant does not need to provide any other documents to demonstrate that they have sufficient funds to live in the United Kingdom.
• The letter should include a period of three months in a row immediately preceding the application. It is necessary for it to include the candidate’s full name, the account number, and the date the letter was issued. In addition, the name of the issuing institution, along with any other relevant official information, as well as the amount of money currently held in the candidate’s account.
• The money must be converted to pounds sterling whenever it is held in a different currency that is not the pound. It is necessary to keep one’s financial resources in the form of cash, either in savings or in an existing account.
The fee for submitting an application for a Tier 1 Graduate Entrepreneur visa
Whether you are applying for your Tier 1 Graduate Entrepreneur Visa from inside or outside of the UK will determine the cost of your application. However, the fees for people with Turkish and Macedonian citizenship are significantly reduced.
Candidates who are applying from outside the UK will be required to pay a fee of £349, with the exception of applicants who are nationals of Turkey or Macedonia, who will pay a reduced fee of £294. In contrast, each and every applicant will be required to pay an additional fee of £294 for each of their dependents if they intend to bring them to the United Kingdom.
The applicant will be required to pay a fee of £474 if they are already present in the UK and are applying to switch to or extend their Tier 1 Graduate Entrepreneur Visa. Citizens of Turkey and Macedonia, on the other hand, will only be required to pay a fee of £419. Regarding the applicants’ dependents, each applicant is required to pay a sum of $474 for each of their dependents, regardless of the dependents’ nationality.
FAQs
Are you able to find employment with a Tier 1 visa?
You’ll need a Tier 1 Entrepreneur visa in order to establish or take over the management of one or more businesses in the United Kingdom. As a self-employed person, you have the option of working for your own company, provided that the work in question satisfies the requirements necessary to qualify as self-employed. Additionally, you are permitted to bring dependents and family members along with you.
How much of a financial commitment is necessary to obtain a business visa for the UK?
How much financial investment is necessary to obtain a business visa for the UK? In the beginning, applicants are required to have a minimum of £3,310 (or 3,30,150) in their bank accounts. Applicants for a visa extension are required to demonstrate that they have access to a minimum of £945 (or 94,257 yen).
What separates visas classified under Tier 1 from those classified under Tier 2?
Tier 1 visas are reserved for exceptionally talented individuals who have the potential to make a significant contribution to the UK as well as investors and business owners. The Skilled Worker system utilises the Tier 2 qualification level. Temporary Worker visas fall under the classification of Tier 5 visas. These visas are only valid for a maximum period of one year in the United Kingdom.
How long does it take to get a Tier 1 visa?
Your first Tier 1 Investor visa will be valid for either three years (if you apply from outside the UK) or three years and four months (if you apply from within the UK) (if applying from within the UK).
What kind of financial commitment is required to get public relations in the UK?
After living in the UK for three years, an investor who has made an investment of at least five million pounds will be able to submit an application for permanent residence. If an investor spends at least £10,000,000 in the UK economy, then after two years of living in the UK they are qualified to submit an application for permanent residency.
Conclusion
Following the steps in our guide could help you obtain the UK Tier 1 Graduate Entrepreneur Visa, which is something you should strongly consider doing.
