Tier 1 Graduate Entrepreneur
Tier 1 (Graduate Entrepreneur) is aimed at students who have successfully completed a degree course in the UK and who wish to develop ideas or entrepreneurial skills by setting up a business in the UK. You need to be sponsored/ endorsed by City, University of London.
Tier 1 (Graduate Entrepreneur) visa
You can bring your dependants with you and you can extend your stay in the UK or switch into this visa from some other visa categories. However, you cannot get public funds, work as a doctor, a dentist in training or a professional sportsperson, and settle in the UK on this visa.
How to apply for Tier 1 (Graduate Entrepreneur)
Selection for endorsement will be via the following 3-step competitive process:
- Step one
All applications will be submitted via an online form accessed via the City, University of London website. An independent panel of entrepreneurial experts will then assess these applications and successful candidates will be invited to present their ideas to a panel. The next closing date for selection is expected to be in August 2017. More information will be provided closer to then.
- Step two
All shortlisted candidates will be invited to deliver a 10-minute presentation, supported by a detailed action plan. Successful candidates at this stage will be recommended by the Enterprise Office, City, University of London, for official endorsement of a Tier 1 Graduate Entrepreneur Visa by the Institution.
- Step three
On confirmation of endorsement, all candidates will attend their first supervision meeting with the Enterprise Office, with subsequent meetings taking place on a quarterly basis.
Financial requirements when you apply
- You must be able to show that you have held funds of £945 if applying from inside the UK or £1,890 if applying from outside the UK, in an account that is acceptable to the Home Office for the latest 90 consecutive days before you apply.
- It costs you £474 (from 6 April 2017) apply from inside the UK or £349 (from 6 April 2017) to apply from outside the UK, plus £200 per year for health surcharge.
If your application is successful
If your application is successful, you will be granted leave for 1 year in order to develop your business plans with the support of the Enterprise Education at City.
There is no restriction on working in the UK under this category. However, please bear in mind you need to be progressing your business to remain sponsored under your Tier 1 graduate entrepreneur visa.
There is a possibility of extending this permission and to continue working on your business for an additional year. You are only eligible to apply for this visa if you have or were last granted a student or Tier 4 visa, but not if you have or last held a Tier 1 (PSW) visa.