Tier 1 Entrepreneur Business Plan
Tier 1 (Entrepreneur) Visa gives non-EEA nationals the opportunity to start or invest in a business in the UK. In order to qualify for this visa category, the applicant must demonstrate the access to the funds amounting to either £50,000 or £200,000 (read the specifications here).
However, demonstrating access to the funds is not the only rigorous requirement of Tier 1 (Entrepreneur) category. You must also pass the ‘Genuine Entrepreneur” test and prove that your business idea is feasible.
Tier 1 Entrepreneur is a point-based visa category. This means that you must score 95 points in order for your application to be approved. Out of the total of 95 points, 20 points are awarded for proving that you have established a new business in the UK or have created the equivalent of at least two new full time jobs for individuals settled in the UK.
Writing a business plan is essential to any entrepreneur, however the information you provide must be accurate and consistent with the rest of your application. In order to satisfy the Home Office requirements your business plan must include the following:
-Your background including previous experience and qualifications in interrelated industries
-Financial summary and analysis
-Your service or product description, including prices
-A comprehensive market research
-A competitive analysis of the market
-Cash flow forecasts
-Management and staff structure
-Your professional registration and licenses
How can we help?
At Master Legal Services we have experience in dealing with Tier 1 (Entrepreneur) Visa applications. Our immigration lawyers will assist you fully in your application, ensuring you have a strong business plan and all the supporting documents in place.
Contact us today:
T: 020 3290 0143
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