Graduate Entrepreneur Visa
Introduction
Most UK universities are eligible to endorse 20 to 30 students to stay in UK to run a genuine business after their study. This is a very popular route for current students who wish to stay in UK after their study, as a working visa is very difficult to acquire at current UK job market. Moreover, after 2 years time, if the graduate wishes to apply for entrepreneur visa, he/she only needs to provide 50,000GBP instead of 200,000GBP for his/her UK business.
To apply this visa, an applicant need to be endorsed by his/her university, therefore, the applicant should find out what the requirements of getting endorsed by the university are as the first step.
Generally, the university will ask for the applicant to submit a business plan and fill in some relevant forms. Applicants will also normally invite to attend an interview to talk about the business they wanted to create. The universities will then decide if they want to issue the applicant an endorsing letter. Once the endorsement letter is issued, the applicant has three months to apply for his/her graduate entrepreneur visa.
Who is eligible?
- You must have been awarded a Bachelor, Masters or PhD degree from an endorsing university by the Home Office
In addition:
- If endorsed, you must be committed to spending the majority of your working time on developing the business idea.
- Endorsement cannot be given for businesses that engage in property management or property development.
- If you are applying within the UK you must be switching into this visa category from one of the following visas: Tier 4 student visa or Tier 2 post-doctoral researcher sponsored by the endorsing university. You must apply to switch prior to the expiry of your current visa.
- You cannot previously have been granted immigration leave in the UK under Tier 1 (Post Study Work), the Science and Engineering Graduate Scheme, International Graduates Scheme or Fresh Talent: Working in Scotland Scheme.
- For your visa application, you will be required to demonstrate £945 if applying from inside the UK or £1,890 if applying from outside and must have held this amount in your bank account for a consecutive 90 day period before you apply.
How long can you stay?
The length of the initial graduate entrepreneur visa is 1 year. You can then renew it once for another year so long as the endorsing university considers your business has made satisfactory progress.
Benefits of Graduate Entrepreneur visa route
- After completing your time on the Graduate Entrepreneur visa, you will be eligible to switch to Tier 1 Entrepreneur with reduced investment funds of £50000.
- A Tier 1 Entrepreneurvisa is initially valid for 3 years and 4 months with the possibility of further renewal subject to meeting extension requirements. After 5 years as an entrepreneur, you can apply for indefinite leave to remain if all other requirements are met.
- There are no restrictions on working hours or working for another employer whilst you develop your business. However, spending the majority of your working time on your business idea is a condition of the visa.
Services we offer
- help you understand the whole visa process
- assist with your business plan and interview preparation
- apply your visa on your behalf after an endorsement letter is issued
- assist with preparing supporting documents
- provide visa guidance throughout your 1st year of graduate entrepreneur visa