Permits2work

Applicants must register with the relevant tax authorities (e.g HMRC) within 6 months of entry to the UK. In addition to the above, the applicant will need to demonstrate that they still have £200k held in a regulated financial institution or access to 50k held in a regulated financial institution which has been funded by: FSA registered Venture Capitalist firm; OR UK Government department; OR Entrepreneurial seeding competition recognised by UK Trade and Investment.

Evidence will also be required to show that the applicant has met the English language and maintenance requirements. The English requirement will be met if the applicant is a national of a majority English speaking country; has passed a recognised English language test; or holds a UK bachelors degree (or equivalent) that was taught in English.

Maintenance will be met if it can be shown that the applicant has access to sufficient personal savings for the 90 day consecutive period prior to the date of application. The amount will depend on whether the application is made from within or outside the UK and whether any dependants are to be included.

Applicants must demonstrate that they have:
Been actively involved in the business and, where new businesses have been established, these have led to the creation of at least 2 full time equivalent posts for resident workers for at least 12 months.

The specific document requirements will change depending on the type of business that has been established and whether the applicant is self employed or a Director of the company in question.

Tier 1 Entrepreneurs can qualify settlement in the UK after three years if the company has:

• Generated a total turnover of at least £5m over this period; OR
• Created 10 full time equivalent posts for resident workers for at least 12 months

Applicants will also benefit from an increased number of days that they can be absent from the UK when applying for settlement. The allowable absences are increased to 180 days per year.