Applicants may qualify for this category on the basis of funds invested in their businesses up to 12 months before they apply. This is being widened to 24 months for applicants switching from the Tier 1 (Graduate Entrepreneur) category, which is designed to feed into Tier 1 (Entrepreneur) and in which leave may be granted for up to two years in total;
Tier 1 (Entrepreneur)
Minor updates are being made to evidential requirements. These include removing the need for third party declarations to be provided when funds are held in a joint account with the applicant‟s spouse or partner, requiring lawyers providing declarations to be independent of those providing investment funds, changing the contents of third party funding declarations from banks to better reflect banking practice, and requiring business accounts produced as evidence of investment to meet statutory requirements.
Tier 1 (Investor)
Tier 1 (Investor) Investors are required to invest their funds within three months of entering the UK in this category. At present, if they fail to do so they cannot be granted extensions. A change is being made to allow extensions to be granted if there are exceptionally compelling reasons for the delay in investing, providing the reasons were unforeseeable and outside the investor‟s control. Investors who do not invest within the first three months may still have their leave curtailed and will have to wait for longer before they become eligible to apply for settlement.
The Tier 1 (Graduate Entrepreneur)
The requirement for applicants to have obtained their degrees within the last 12 months or from a particular institution is being removed. This will be of particular benefit to overseas applicants, but will also benefit those who have been undertaking research in the UK since graduating. Tier 2 (General) A change is being made to allow Tier 2 (Intra-Company Transfer) and Tier 2 (General) applicants to be granted up to 5 years‟ leave (rather than up to 3 years‟) on payment of a higher fee. This will increase flexibility for applicants and their Sponsors.
Source : New changes in immigration rules from 6 April 2014.