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Please make sure to read HO guide on Tier 1 entrepreneur as most of your questions are covered there:maxtheman wrote:Hey Guys,
This should be my first ever post on this forum. I am looking towards entrepreneur visa (Tier 1) by May 2016. I have visited few consultant here in Pakistan and talked to few "known-for-it" guys, but haven't been told definite answers to my following situation:
1) I am an entrepreneur who has previously done great on a patented technology product via funding (0% stake).
2) I got the previous business registered in USA in order to receive payments & due to legality of the matter.
3) I generated about 90,000 GBP via that. Now, i have those 90,000 + 120 at my discretion, made available to me via a family member.
I have a wife and a kid and i want to apply for Tier 1 entrepreneur visa to UK with access to 200K. I think my tech product is going to take off in European area as it is an everyday essential for the daily commuters.
Now my questions are simple:
a) Can i get funds from a family member made available to me to apply for T1E?
b) Should these funds be in my local Pakistani bank acc? (I can't have them in a uk acc as long as i am not there)
c) When i apply for visa along with business plan and all, will i have to transfer these funds to uk acc or that's after i get approved.
d) Do i have to invest all 200K at one time or can i do investment in chunks when in uk, (for example, 70,000 upfront and remaining spread over a period of 2 years?
e) My line of business is not related to my field or degree of studies, is that okay? I mean that what entrepreneurs usually do lol.
Please let me know, i shall be grateful for any help that i can get here.
Cheers
Yes she can. She will be allowed to take up employment here, unlike youmaxtheman wrote:Thanks for the prompt replies everyone, also one last question. Will my wife be allowed to work being a dependent on this visa? Or are there any restrictions to it? P.s ... I scored 8.5 for IELTS ! Fingers crossed... time to execute action plan.
Cheers
That sounds great. Thanks for the great info everyone. I met couple of people who claim that you can still get rejected even if you have everything according to rules, is that true?zimba88 wrote:Yes she can. She will be allowed to take up employment here, unlike youmaxtheman wrote:Thanks for the prompt replies everyone, also one last question. Will my wife be allowed to work being a dependent on this visa? Or are there any restrictions to it? P.s ... I scored 8.5 for IELTS ! Fingers crossed... time to execute action plan.
Cheers
I am guessing that the high rejection rate is because too many applications are not really passing the Genuine Entrepreneurs Test. Or in other words the main intent of the applicant is not actually to create a thriving business but rather do the minimum to make the Visa. This is very subjective (and managed by bureaucrats)u_m_e_r wrote:in current scenario rejection % is like 90% i have fulfilled all of the requirements and got refusal with very lame objections nothing on my documents and not even about interview they just blame me for the things i didn't mansion in my interview. even one of my friend who invested in UK before apply and then also fulfill the requirement of Tier 1 Ent (200000) for more then 90days in the bank got refused.... i don't know why but they are refusing majority of visa applications now a days.
+1seasky wrote:I am guessing that the high rejection rate is because too many applications are not really passing the Genuine Entrepreneurs Test. Or in other words the main intent of the applicant is not actually to create a thriving business but rather do the minimum to make the Visa. This is very subjective (and managed by bureaucrats)
All I can suggest is really think over the business case and make it clear intention is really strong.
I don't think it is in the guidelines officially but I would guess more creative entrepreneurial businesses have a better chance (e.g. does the UK really need someone opening another local restaurant for a few more near minimum wage jobs Vs development of a new world changing technology)
All this is just opinion on my side!
Well this is a long discussion (I think that the jobs created should be double min wage for example)noajthan wrote:+1seasky wrote:I am guessing that the high rejection rate is because too many applications are not really passing the Genuine Entrepreneurs Test. Or in other words the main intent of the applicant is not actually to create a thriving business but rather do the minimum to make the Visa. This is very subjective (and managed by bureaucrats)
All I can suggest is really think over the business case and make it clear intention is really strong.
I don't think it is in the guidelines officially but I would guess more creative entrepreneurial businesses have a better chance (e.g. does the UK really need someone opening another local restaurant for a few more near minimum wage jobs Vs development of a new world changing technology)
All this is just opinion on my side!
Or does UK really need a failing MOT garage that turned into an IT hardware box shifter - as described recently in forum.