The Tier 1 (graduate entrepreneur) visa is a specialist visa that is typically used by those that have graduated in the UK under a student visa, and now wish to establish a profitable business in the country. There are specific requirements that must be met, you will need to show that you have money to support yourself, and you will need the backing of the university where you studied. Although the initial visa awards a 12 month stay, this can be extended for a further 12 months, with the potential for permanent residency to be awarded at a later date.
The visa application system in the UK is used to ensure that migrants bring something to the country. Those that bring the greatest potential, the greatest skills, or the greatest investment are usually those that are afforded the greatest immigration privileges. The Tier 1 (graduate entrepreneur) visa is a very specialised visa that may be considered the next step from a Tier 1 (student) visa and that leads on to a Tier 1 (entrepreneur) visa.
In order for your application to be successful, you will need to show that you have the backing of the university from which you graduated. You will have to show a credible business plan, and you will need to show that you are able to support yourself while the business is established. You will be permitted to work for a period of up to 20 hours a week in order to support yourself while the business is set up.
The initial visa lasts for a period of 12 months, but it is possible to extend this in some cases. The extension provides an additional 12 month Tier 1 (entrepreneur) visa and will not require the intervention or backing of your university. If you wish to bring your family with you, as part of the graduate entrepreneur visa, you will need to show that you have the means to support them, as well as yourself.
The student entrepreneur visa is most commonly used by those that have graduated with a degree, or higher educational qualification, under a Tier 1 (student) visa and that have a viable business idea that is likely to generate profits within one or two years. To ensure the greatest chance of success, you should consider using a qualified and experienced lawyer that can help with your business plan preparation, and with the application itself.