The UK is the land of opportunities, with many individuals wishing to come to the UK for many different reasons. Due to this, there are many different routes of entry. One of the principle ways is by applying for a Tier 1 Entrepreneur Visa, allowing business people to come to the UK to do business. But what are some of the common mistakes people make when applying for this type of visa?
Entrepreneurs want to contribute to and benefit from the UK economy. If you have a solid business plan and want to invest in the UK, you can apply for a Tier 1 Entrepreneur Visa.
However, many aspiring entrepreneurs have their visa applications refused; the success rate can be low. As the rate of refusal for Entrepreneur Visas is high, you should prepare yourself for the process, by avoiding the following common mistakes.
1. A poor business plan
Applicants will sometimes submit a poor business plan. A genuine business plan is required to be attached to the application. This business plan helps UKBA decide whether you are a genuine entrepreneur or not. It has been found that business plans were downloaded directly from the internet, leading to UKBA officials refusing the applications.
2. Unable to show credible sources of funds
The UKBA can interview the applicant as it has got the power to do so. They will ask about the source of the money. It has been observed that many applicants are not able to answer in a logical manner to this question and so their visa is refused because the applicants raised doubts in the minds of UKBA.
3. Poor immigration history
The applicant may be called by UKBA and UKBA can question the applicant on his immigration history. You may be fulfilling all other criteria for successful application but, if you have a poor immigration history, then you may be visa application will be refused
4. Unable to show evidence of possessing the maintenance fund
Whether you made application from within the UK or from outside, you need to possess a minimum fund for your maintenance; the Home Office needs to see evidence of whether you can support yourself. The amount must be in your own account and not someone else’s. Even 1 penny less than the minimum amount required can lead to your Tier 1 Entrepreneur Visa being refused.
Tips to avoid common mistakes
You can avoid making the mistakes outlined above.
In order to succeed in your application for a Tier 1 entrepreneur visa, you must have a good business plan. This should be well-drafted, following the SWOT principle: your business' strengths, weaknesses, opportunities and threats.
You should carry out proper research before making your business plan as the UKBA will check the content of your business plan quite thoroughly.
You should also be ready to answer any questions asked by UKBA about the source of your money; the source should be genuine so that you don’t find it difficult to answer. You must show that you have the necessary funds required for your own maintenance, while the funds required for business investment and funds required for your maintenance are two different funds - you cannot mix them.
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