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Question about Tier 1 eligibility & investment funds.

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, John, ChetanOjha, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix

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mechanicalhead
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Joined: Fri Sep 11, 2015 6:30 pm

Question about Tier 1 eligibility & investment funds.

Post by mechanicalhead » Fri Sep 11, 2015 7:10 pm

1. I am currently on Tier 4 visa and my visa will expire next month. I would like to remain in the UK, but I'm really struggling to get a sponsored job (Tier 2).

2. I'm thinking of becoming self-employed (as a freelance designer).
Can I use this visa to work as a freelancer?

3. I have not hold £945 for 90 consecutive days in my bank account.

A family member overseas is wiling to provide me financially.
Question A: Does the £945 have to be in a bank account that is under my name OR can it be under the name of a family member?

Question B: Regarding the £50000. (Applying as a former student)
The GOV.UK website says
"You must have access to £50,000 investment funds from one or more of the following:

a UK entrepreneurial seed funding competition endorsed by UKTI
a UK government department making funds available for the purpose of setting up or expanding a UK business
Your investment funds can’t include:

your own money 

money from any other third parties
money from a UK venture capital firm
"

Is there anything I can do to get this visa?

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CR001
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Re: Question about Tier 1 eligibility & investment funds.

Post by CR001 » Fri Sep 11, 2015 11:39 pm

Tier 1 Ent is not as simple as you appear to say. You need the money, viable business plan, advertising, contacts, clients etc. You can't just freelance, you have to run a business and have some employees.

I have posted the Tier 2 sponsor list in your other thread. You don't really have enough time to follow all the processes required for either a Tier 1 Ent or a Tier 2.
Char (CR001 not Casa)
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mechanicalhead
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Joined: Fri Sep 11, 2015 6:30 pm

Re: Question about Tier 1 eligibility & investment funds.

Post by mechanicalhead » Sat Sep 12, 2015 4:27 pm

CR001 wrote:Tier 1 Ent is not as simple as you appear to say. You need the money, viable business plan, advertising, contacts, clients etc. You can't just freelance, you have to run a business and have some employees.

I have posted the Tier 2 sponsor list in your other thread. You don't really have enough time to follow all the processes required for either a Tier 1 Ent or a Tier 2.

"You don't really have enough time to follow all the processes required for either a Tier 1 Ent or a Tier 2."

How so- especially Tier2?

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CR001
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Re: Question about Tier 1 eligibility & investment funds.

Post by CR001 » Sat Sep 12, 2015 4:47 pm

When does your Tier 4 expire exactly?
Char (CR001 not Casa)
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mechanicalhead
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Re: Question about Tier 1 eligibility & investment funds.

Post by mechanicalhead » Sun Sep 13, 2015 7:03 pm

CR001 wrote:When does your Tier 4 expire exactly?
Mid October.

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