(This article was updated on 22/07/2020)
Tier 1 Entrepreneur visa route is closed. However UK Innovator Visa , UK Start-up Visa , UK Sole representative Visa, UK Tier 1 Investor Visa and Tier 2 route are still open.
The UK has always been a major hub of all the entrepreneurial activities all around the world.
The UK Government specifically designed the UK Tier 1 Entrepreneur Visa category for entrepreneurs who intend to enter the UK in order to set up or run their own business.
To enter the UK on a UK Tier 1 Entrepreneur Visa there are levels assessed on a points-based system, where points are awarded for different attributes including previous or prospective salary and qualifications and the level of skills and likely financial contribution.
Amongst a crowd of successful entrepreneurs who have emerged from the UK, there are some who have had reached the upper echelons of high net worth status.
The UK has now replaced the Tier 1 Entrepreneur visa to UK Innovator visa which is not a points based system but essentially the parameters are that your business or business idea should be Viable, Innovative and Scalable.
Duncan Bannatyne is a perfect example of the classic rags-to-riches story. He started his first business with only $730, selling ice cream from a second-hand van. He eventually entered into the Bed & Breakfast and nursing home industry, subsequently developing over 30 such properties which he later sold for $42 million. He then took $36 million of the proceeds and entered into the fitness club arena.
Graff founded the world famous diamond jewelry business, Graff Diamonds, in 1960. He is intricately involved in every phase of the diamond business, from sourcing and mining the raw materials to cutting, polishing and marketing the finished product. Graff occupies the number one spot in terms of the wealthiest diamond merchants in the UK.
The combined salaries of Simon’s various television and music ventures reportedly earns him a cool $95 million each year.
For any business to flourish, the location is also a very big aspect that needs consideration.
If you’ve faced any refusals in the past or you’re applying for the very first time, you can book a consultation with one of our specialist consultants who will study your case and advise you accordingly in order to solve the problem and help you apply for your UK Visa application with positive response.