Changes to Entrepreneur rules
The government has announced changes to the Immigration Rules concerning Tier 1(Entrepreneurs) which come into force on 31st January, 2013. The new rules will also apply to applications already made which are outstanding as of 31st January, 2013 (except for the requirement that there is confirmation that the money will remain available to the applicant until such time as it is transferred to the applicant or the applicant’s business).
The new rules will introduce a ‘genuine entrepreneur’ test and a requirement that the investment funds are held on an ongoing basis until their investment in the business.
The ‘genuine entrepreneur’ test will be conducted by the UKBA caseworker taking into consideration the factors set out below in deciding whether or not he or she is satisfied the applicant is a genuine one:-
(i) the evidence the applicant has submitted;
(ii) the viability and credibility of the source of the money referred to in Table 4 of Appendix A;
(iii) the viability and credibility of the applicant's business plans and market research into their chosen business sector;
(iv) the applicant's previous educational and business experience (or lack thereof);
(v) where the applicant has already registered in the UK as self-employed or as the director of a business, and the nature of the business requires mandatory accreditation, registration and/or insurance, whether that accreditation, registration and/or insurance has been obtained;
(vi) the applicant's immigration history and previous activity in the UK; and
(vii) any other relevant information.
The UKBA can request further documents to satisfy themselves of the genuineness of the applicant and the applicant would have 28 days in which to provide them.
Posted on Jan 29, 2013.