I have heard that there is a high refusal rate for Tier 1 (Entrepreneur) applicants, and that people largely fail to qualify as a “genuine entrepreneur.” I have already started a successful company in my home country and want to make sure my application is set up for success.
Answers
Yes, the genuine entrepreneur test is difficult to meet as it is a subjective test. Generally, a detailed business plan and CV will work but should you need more detailed advice from a professional. He or she will provide a list of potential questions to you that may come up at any interview. Often applicants will have their application refused if they cannot justify their business plan or answer credibly at interview.
Thank you for your enquiry about the Tier 1 (Entrepreneur) visa. You are indeed correct that the refusal rate in this category is very high at the moment (above 60% in some countries) and that passing the "genuine entrepreneur" test is one of the most challenging aspects of making a successful application. The fact that you already have experience as an entrepreneur can help strengthen your application, but certainly does not guarantee success. More information is needed regarding the nature of your business and your application.
The main challenge is in evidencing the genuineness of the applicant. They must be satisfied that you are a genuine entrepreneur with an intention to invest the required funds into a qualifying UK company and who will be actively involved in running that company. They will expect to see a comprehensive business plan, evidence of market research and evidence of your qualifications and prior experience in business. Many applicants are also invited to an interview before a decision is made on the application to further assess your genuineness.
Thank you so much for your enquiry and will suggest you take legal advice in this matter. These applications have a lot of different aspects which one should be careful while applying
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