Tier 1 Update

Do you hold a Tier 1 Investor or Entrepreneur visa in the UK?

With both the UK Tier 1 Entrepreneur and Investor immigration routes closed to new applicants we examine upcoming important dates visa holders should be aware of.

Tier 1 (Entrepreneur)

If you are a current visa holder under this category you may be left with a tight timeline to apply for the extension of your visa.

The exact cut off dates depend on your Immigration history, however many applicants will only be able to apply for an extension of leave until 6 April 2023. If you held leave as a Tier 1 (Graduate Entrepreneur) before you switched into Tier 1 (Entrepreneur), you can submit applications to extend your stay until 6 July 2025.

In the event of a successful application, you will be granted an extension of their current stay for a further two years. Many applicants can only submit applications to settle (Indefinite Leave to Remain) until 6 April 2025. If you held leave as a Tier 1 (Graduate Entrepreneur) before you switched into Tier 1 (Entrepreneur), you can submit applications to settle until 6 July 2027.

Applications received after the relevant date above will fall for refusal.

Tier 1 (Investor)

There is an important deadline for Tier 1 (Investor) visa holders who currently hold their investments in UK Government bonds. You will be required to move your investments out of the UK Government bonds and reinvest into UK Corporate shares or a UK Company loan, by no later than the 6 April 2023. This will enable you to meet the requirements for your future extension and Indefinite leave to remain applications.

Should you require further guidance and assistance, please do not hesitate to contact your Magrath Sheldrick representative or email us at [email protected].

The content of this article is for information purposes only. All circumstances are unique and the information and opinions given do not constitute legal advice and should not be regarded as a substitute for legal advice. No liability is accepted for the opinions contained or for any errors or omissions.