T1 50K route advice

instackle · Post by **instackle** » Sat Sep 06, 2014 6:57 am

Hey, guys

Can you help me understanding the latest t1 visa rule, I went through the forum but get nothing, here is my concern:

I have a business plan and a pre-built web product with UK master degree. i am applying outside UK and a 50K route may fit me.
I can see the document says there are 3 subroutine can follow which are:

VC regulated by FCA

UKTI competition

Gov

But the document says the "FCA VC routine" is only for part of eligibilities, that is, as I see, switching from PSW to T1.
--Tier 1 (Post-Study Work) Transitional arrangement – 11 July 2014

And there is nothing noted how I can apply outside UK actually. DOES IT MEAN I CANNOT FOLLOW THIS WAY OTHER THAN THE OTHER TWO: UKTI COMPETITION AND GOV?

And, if you do have a genuine VC list that fit FCA, please give us a shot. (top one or two is enough..)

THANKS. as the document always change, please keep a latest one in your hand...
https://www.gov.uk/government/publicati ... trepreneur

Momi · Post by **Momi** » Sat Sep 06, 2014 9:33 am

If you are applying from outside uk then you can use 50k route and vc.
You mixed inside uk rules with outside uk rules. I personally think you need some expert advice.

attahaas · Post by **attahaas** » Sat Sep 06, 2014 12:32 pm

You CAN'T apply with 50K outside UK. Outside UK is only for 200K.

To apply inside UK with your OWN 50K, you must have ENGAGED in a business activity prior to 11 July, 2014. If you haven't, then you must seek the 50K from an FCA regulated VC or UKTI Competition or Gov.

samaygrg · Post by **samaygrg** » Sat Sep 06, 2014 1:50 pm

Self assessment calculator says, you can if you have either of following:

a) You must have access to not less than £200,000; this can include money made available by another person as long as the money is available to you or the business you are running; or

b) you must have access to not less than £50,000 from
-One or more registered venture capital firms regulated by the Financial Conduct Authority;
-One or more UK entrepreneurial seed funding competitions that is listed as endorsed on the UK Trade and Investment website;
-One or more UK Government Departments or Departments of Devolved Administrations and made available by the Department(s) for the specific purpose of establishing or expanding a UK business.

Funds from more than one of these sources of funding may be combined to form the investment funds of no less than £50,000.

c) You must be applying from inside the UK, have leave as a Tier 1 (Graduate Entrepreneur) Migrant, and have access to not less than £50,000, or

d) You must be applying from inside the UK, have leave as a Tier 1 (Post-Study Work) Migrant, and you were registered self-employed or as a director in the three months prior to the date of application. You must also be engaged in business activity in a graduate occupation, and have access to at least £50,000.

e) You must be able to demonstrate that you have the funds or provide evidence that the funds have been made available to you by a third party from a regulated financial institution. The full amount of this money must continue to be available to you after your application is made until it is spent by your business or businesses in the UK.

instackle · Post by **instackle** » Sat Sep 06, 2014 1:50 pm

attahaas wrote:You CAN'T apply with 50K outside UK. Outside UK is only for 200K.

To apply inside UK with your OWN 50K, you must have ENGAGED in a business activity prior to 11 July, 2014. If you haven't, then you must seek the 50K from an FCA regulated VC or UKTI Competition or Gov.

Thanks,

But I also cannot find the exact word specifying which route can the one who apply without hold any available visa and outside UK.

The only section in the document is: You are allowed to make an initial application in the UK... and Attributes for extension applications.

Is that mean there is no route available who apply without visa and outside UK?

samaygrg · Post by **samaygrg** » Sat Sep 06, 2014 2:09 pm

If somebody who has already left UK and not holding relevant types of valid visa, then he/she will be considered like any other normal external general entrepreneur applicant. And must apply for entry clearance, however, the attributes remains the same.

You can find your eligibility on the basis of your point based self assessment here;
https://www.points.homeoffice.gov.uk/gu ... ment.faces

instackle · Post by **instackle** » Sat Sep 06, 2014 2:15 pm

samaygrg wrote:If somebody who has already left UK and not holding relevant types of valid visa, then he/she will be considered like any other normal external general entrepreneur applicant. And must apply for entry clearance, however, the attributes remains the same.

You can find your eligibility on the basis of your point based self assessment here;
https://www.points.homeoffice.gov.uk/gu ... ment.faces

Okay, that is to say entry clearance which I need to apply can also consider the 50k route?

Because it seems a little confused as following states (for the 50k part)
https://www.points.homeoffice.gov.uk/gu ... AL_05_HELP

instackle · Post by **instackle** » Sat Sep 06, 2014 2:29 pm

Re: T1 50K route advice

samaygrg · Post by **samaygrg** » Sat Sep 06, 2014 2:33 pm

In the published policy guidance, there are a lot of points clearly not written and can give us heaps of confusions. Even I have seen many solicitors providing variations in their advice.

Personally, I reckon you can apply via [a] and scheme from outside the UK and for [c] and [d] you got to be applying for LR being inside UK.

Wait for Gurus word on it.

instackle · Post by **instackle** » Sat Sep 06, 2014 2:42 pm

thanks @samaygrg

Just for a baseline concern for a business, frankly 200k is not even enough for a tech startup that can run upwardly nowadays in UK. lol

nasirkhan · Post by **nasirkhan** » Sat Sep 06, 2014 3:19 pm

instackle wrote:thanks @samaygrg

Just for a baseline concern for a business, frankly 200k is not even enough for a tech startup that can run upwardly nowadays in UK. lol

Quite the contrary - Tech startups are knowledge based rather than capital based. Since 'Software is eating the World' and product development and prototyping in software, incurs no costs so to speak, initial investments required are minimal.

instackle · Post by **instackle** » Sat Sep 06, 2014 3:34 pm

nasirkhan wrote:
instackle wrote:thanks @samaygrg

Just for a baseline concern for a business, frankly 200k is not even enough for a tech startup that can run upwardly nowadays in UK. lol
Quite the contrary - Tech startups are knowledge based rather than capital based. Since 'Software is eating the World' and product development and prototyping in software, incurs no costs so to speak, initial investments required are minimal.

Yes it may not need a large amount at very early stage, the knowledge and skill occupies all. as a strategy for being well-known at the growing or scaling stage, you have to provide a stable connection all around the customers for good feedback. and you may concern the cdn hostings, the money for hiring high end designers, developers...when you are the 'scientist' in your company. It is not about how small the company will be, it is something like 'keeping it small' and iterates fast.

luisse123 · Post by **luisse123** » Sun Sep 07, 2014 1:40 am

Hey guys !
WIN a NEW AUDI A3!
FOR FREE
This is the link: http://lnkgo.com/1Ofx

attahaas · Post by **attahaas** » Sun Sep 07, 2014 5:22 am

instackle wrote: Okay, that is to say entry clearance which I need to apply can also consider the 50k route?

Because it seems a little confused as following states (for the 50k part)
https://www.points.homeoffice.gov.uk/gu ... AL_05_HELP

Hope this link clarifies your confusion:

https://www.gov.uk/tier-1-entrepreneur/ ... ment-funds

Immigrationboards.com: Immigration, work visa and work permit discussion board