Migration Advisory Committee launched a new consultation on Tier 1 Entrepreneur visa route

Migration Advisory Committee (MAC) has started another consultation on the Tier 1 Entrepreneur visa category. As a result of this consultation the Home Office may introduce new restrictions on the Tier 1 Entrepreneur category in October 2015. To view the details please follow the link.

Particularly the Government requested from the MAC to consider the following issues:

Whether the existing design of the Tier 1 (Entrepreneur) route is appropriate to deliver significant economic benefits for the UK and in particular whether:
  • the initial eligibility criterion of access to funds is a sufficient determinant of entrepreneurial ability and whether other criteria, for example, assessment of previous entrepreneurial activity and/or testing the purpose of the investment, should be applied;
  • the existing eligibility and extension criteria are aligned sufficiently with entrepreneurial and early stage business life-cycles, including consideration of the role angel investors and crowd-funding can play;
  • the route utilises international best practice. As part of this, the MAC is requested to consider route design and incentives to ensure competitiveness.
It is clear that the main focus of this consultation is primarily the initial eligibility criterion of access to funds is a sufficient determinant of entrepreneurial ability and whether other criteria, for example, assessment of previous entrepreneurial activity and/or testing the purpose of the investment, should be applied.

As a result of the consultation, either the funds (£200,000) requirement could be increased/decreased and also thorough checks of work experience and credibility of applicants business. Obviously this is E&S Consultancy’s personal view on future potential changes that may be introduced this Autumn 2015.

If you are seriously considering to obtain a Tier 1 Entrepreneur it is advisable not to delay and apply as soon as possible.