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Howard
Howard, Immigration Lawyer
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If a person was granted a Tier 1 Entrepreneur visa (for 3 yrs)

Resolved Question:

If a person was granted a Tier 1 Entrepreneur visa (for 3 yrs) after showing £200,000 available for spend in UK business as a part of application, can he/she then apply for extension of same visa (for another 2 yrs) based on the fact that company he/she founded raised £50,000+ from accredited UK investor?

background:
there is an option for those seeking entrepreneur visa to prove they secured £50,000 investment from a local accredited investor. I'm not sure if one can get the visa initially based on money in bank (£200,000) but then raise money from investors (£50K+) within 3 years and show that it (50K from a venture firm, rather than 200K of personal money) was spent on company's operations.
Submitted: 9 months ago.
Category: UK Immigration Law
Expert:  Howard replied 9 months ago.

You can only extend a Tier 1 Entrepreneur visa on the basis of a £50K investment if the initial visa was granted on that basis.

 

If you obtained the visa on the basis of having £200K available to invest then it is a requirement of the visa when trying to obtain an extension that you have invested the £200K figure into the business (it doesn't need to have been spent - simply invested into the business), that you are registered as self-employed or as a Director of a Company and that you have created new jobs.

Customer: replied 9 months ago.

Could you please provide a reference to appropriate source? Maybe from UKBA site?

Expert:  Howard replied 9 months ago.
http://www.ukba.homeoffice.gov.uk/visas-immigration/working/tier1/entrepreneur/eligibility/

In the section for extension applications. These are basic requirements - extensions are assessed on the basis of the initial approval - if you say you will invest £200K then the Home Office expect this to have been done.
Howard, Immigration Lawyer
Satisfied Customers: 459
Experience: Senior Partner with nearly 20 years experience in UK Immigration Law.
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