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PBS Tier 1 Entrepreneur Visas

To qualify for Tier 1 (Entrepreneur) under the Points Based System you must be able to demonstrate that you have funds to support yourself and any dependants. For the main applicant this is £2,800 with a further £1,600 needed for each dependant accompanying you or planning to join you within 12 months of your arrival in the UK.  

These amounts must be held in your personal bank account for a minimum period of three months for which you must show bank statements/ other evidence immediately preceding and dated no more than one month prior to the date you submit your application.

The balance should not fall below the required minimum at any time during the three month period.

Points are awarded for what are called attributes for which you need to score 75 points, these are awarded as follows:
  • You have access to not less that £200,00 (25 points available)
  • The money is held in one or more regulated financial institutions (25 points available)
  • The money is disposable in the United Kingdom ( 25 points available).

Separate points are available for English Language ability (10 points) and the availability of funds for maintenance (10 points). You must demonstrate that you have the level of English described in the Immigration rules and produce evidence of the required funds in addition to reaching the pass mark for the attributes. Entry Clearance officers will only award points to the section for which you have indicated that you wish to claim and for which you have supplied the required supporting evidence.

Claiming Points
Attributes
Access to not less than £200,00 (25 Points Available)

If you have not less than £200,000 of your own money available to make a fresh investment into business sin the United Kingdom you need to supply documentary evidence as specified below. You may include funds made available by one or more other people (known as a Third party or parties). In these circumstances you must also provide a declaration from every contributor that the funds are available to you together with confirmation from a legal representative that the declaration document is valid.

Funds held in one or more regulated financial institutions (25 Points Available)
The financial institution or institutions that provide confirmation of the funds available to you must be regulated by the home regulator. The home regulator is an official financial regulatory body in the country where the financial institute operates and the transaction was made. This body must be appropriate to the type of financial transaction.

Funds disposable in the United Kingdom (25 Points Available)
Funds held in the United Kingdom must be held in an institution that is regulated by the Financial Services Authority (FSA). If the funds are not held in the United Kingdom all of the £200,000 must be freely transferable to the United Kingdom and convertible into pounds sterling. If the funds are held overseas but in an institution that has presence in the United Kingdom and is regulated by the FSA, then the institution already does business in the United Kingdom and will not need any further evidence of the availability of the funds to transfer to the United Kingdom.

If you rely on funds that are held in an overseas institution that is not regulated by the FSA you must provide confirmation that the funds can be freely transferred into the United Kingdom. Do this by supply a document from your bank or financial institution confirming the amount of funds.

Controls
English Language Ability (10 points Available)

The ability to meet the English standard is a mandatory requirement. If you cannot meet this level, your application will be refused regardless of any points you may have scored in the attributes section. 10 points are awarded in this section if you meet the required standard and 0 if you do not.

There are three ways in which you can meet this requirement. You can
  • Be a national of a majority English speaking country on the following list: Antigua and Barbuda, Australia, The Bahamas, Barbados, Belize, Canada, Dominica, Grenada, Guyana, Jamaica, New Zealand, ST Christopher (Kitts) and Nevis, St Lucia, St Vincent and the grenadines, Trinidad and Tobago, The Untied States of America; or
  • Hold and English Language Qualification equivalent to the council of Europe’s common European framework for Language Learning Level C1 (approximately IELTS level 6.5, GCSE Grade C) or
  • Hold a degree that was taught in English as confirmed by the UK NARIC database as equivalent to a UK Bachelors Degree.

Contact us for further assistance and if you have been refused this visa, our experts may be in a position to re apply or offer further solutions or an alternative to this visa.
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