Under the Tier 1 Entrepreneur visa, you can apply for permission to settle permanently in the UK, also known as Indefinite Leave to Remain (ILR), after you’ve been in the UK for 5 years or 3 years if qualifying for accelerated settlement. This is subject to having met all the requirements. As of 29th March 2019 the Tier 1 Entrepreneur visa category has been closed. Any extension applications for Tier 1 Entrepreneur visa holders will remain open until 5th April 2023 and settlement applications until 5th April 2025.
In March 2019, the UK Government announced changes to the Tier 1 Entrepreneur route, closing this category for the new Tier 1 Innovator, which is being introduced to encourage the development of and investments in viable, innovative and scalable businesses in the United Kingdom.
Settlement applications under the Tier 1 Entrepreneur remain open until 5th April 2025. Permanent settlement, also known as Indefinite Leave to Remain (ILR), gives you the right to remain in the UK for an unlimited amount of time and grants the freedom to take up employment or study without restriction. Permanent resident status is necessary to qualify for a British passport, as applicants must be settled in the UK in order to obtain Naturalisation as a British Citizen.
As part of our ILR service, we will prepare your application for submission to the Home Office and guide you through the whole process. Astons Law dedicated Immigration lawyers have an established reputation for providing expert, effective and efficient management and processing of all UK visa applications, extensions and advice for UK settlement options.
Accelerated Settlement options under the Tier 1 Entrepreneur visa
ILR can be granted 2 years earlier if the following conditions are met:
a) The business employs 10 settled workers, or
b) Has a turnover of £5 million per annum
There is a residential requirement in all ILR applications. This is also a requirement for accelerated settlement, under which an applicant must not remain outside of the UK for more than 6 months each year of the duration of the visa.
Eligibility Criteria for ILR under Tier 1 Entrepreneur visa:
Standard Settlement Option — Applying after 5 years:
- You have been living in the UK for 5 years and have continuously complied with your visa requirements.
- You meet the continuous residence requirements for the 5 year period prior to the date of the application being submitted.
- Be able to demonstrate that you have supported yourself and any dependents in the UK without recourse to public funds throughout the 5 years.
- You will need to pass the Life in the UK Test.
- You have invested at least £200,000 into one or more UK businesses.
- You are either registered as self-employed with the HMRC, or with Companies House as a director of a new or an existing business 3 or more months before the application date.
- Your business investments have recruited 2 full-time employees for at least 1 year each.
- You have remained lawfully in the UK and not spent more than 180 days outside of the country within a 1-year period.
- Your partner and children under 18 can apply under your application if they’re eligible.
Fast-track Settlement option — Applying after 3 years:
There is an option to accelerate your Permanent settlement as a Tier 1 Entrepreneur based on the growth of your business.
There are very specific requirements that’s should be met before a person can use this route, as set out in the immigration rules. This includes, but is not limited to, showing that the business(es) has generated a gross income from business activity of at least £5,000,000 during your 3-year period of leave.Our business Immigration experts can provide you with full details on the requirements for the fast-track settlement option.
You will receive a decision on whether your application has been successful within 6 months, or less if you utilise one of the Home Office’s premium services.