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Tier 1 Entrepreneur Accelerated Settlement
If you have successfully obtained a Tier 1 Entrepreneur visa, you can apply for a Tier 1 Entrepreneur Accelerated Settlement for fast-track settlement in the UK, otherwise known as Indefinite Leave to Remain (ILR), after a period of 3 years rather than 5.
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If you have lawfully spent 3 continuous years in the UK as a Tier 1 Entrepreneur migrant and fulfil the criteria below, you will be able to apply for fast-track settlement.
The requirements are as follows:
- You must have created a business or businesses in the UK via the Entrepreneur visa and have created the equivalent of at least 10 new full-time jobs. These jobs must have existed individually for a minimum of 12 months during your last grant of leave, or
- You must have established a new UK business or businesses that has/have had a gross income from business activity of a minimum of £5 million during your 3-year period of leave, or
- You must have taken over or invested in an existing UK business or businesses and your services and/or investment have resulted in a net increase in gross income from business activity of £5 million during your 3-year period of leave.
Documentary Evidence Required for Tier 1 Entrepreneur Accelerated Settlement
To make a successful application, you will need to provide extensive evidence only in the format requested by the Home Office. This can cause delays in the document gathering process and so you should be aware of the formats required before you begin.
Tier 1 Entrepreneur Accelerated Settlement via Generation of a Minimum Income of £5 Million
You must provide audited or unaudited accounts that show the gross income resulting from the business or businesses’ activities as reaching a minimum of £5 million.
Tier 1 Entrepreneur Accelerated Settlement on Basis of taking over or Investing in to an Existing UK Business or Businesses
You must provide audited or unaudited accounts that clearly show the following:
- The name of the accountant
- The date the accounts were produced
- The gross income from business activity in the 3 year period immediately before you became involved with the business
- A net increase of minimum £5 million in gross income from business activity during the 3-year leave granted.
An original, signed and dated letter from the accountant confirming the following:
- Name and details of the business
- An explanation of your involvement in the business
- The net increase in gross income from business activity
- The permission of the accountant to operate in the UK
- The accountant is willing to verify the contents of the letter upon request.
How Can NA Law Solicitors Help?
Our team of specialist immigration solicitors can assist you with the entire process. We will take instructions from you during your initial consultation, advise you on the appropriate documents and draft detailed legal representations. Finally, we will liaise with the Home Office until a final decision is made on your application.
Get in touch with our team of experts today.