IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 06 Apr 2015 | Removal date: open ended
Still in force

Labour market access

 On 6 April 2015, the UK government introduced further reforms regarding the Tier 1 Investor and Entrepreneur visas. With the latest changes, Tier 1 Investor visa applicants will have to open an investment account regulated by UK jurisdiction before applying for the visa. Furthermore, the minimum age requirement for this visa category was raised from 16 to 18 years.
Meanwhile, Tier 1 Entrepreneur visa holders will have to face a "genuine entrepreneur" test also when applying for a extension of stay or indefinite leave to remain. They will now always have to present a business plan and also evidence of source of funds if they did not hold the funds within the last 3 months before visa application.
The new provisions also restrict the possibility to switch from a Tier 1 general visa to a Tier 1 Entrepreneur after 6 April 2015.

AFFECTED COUNTRIES

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