Mistakes you should avoid for the UK Tier 1 Entrepreneur Visa
Posted on August 28, 2018
The UK Tier 1 Entrepreneur Visa is intended to attract overseas entrepreneurs to come and Invest in the UK. The program was targeted at non-EEA businessmen to set up their own or purchase an existing enterprise in the UK.
Of late, however, almost half of the applications for the UK Entrepreneur Program are getting denied. In the last quarter of 2017, 923 (48%) of the 1,918 applications submitted for the program were denied.
Below are the mistakes that one should avoid while submitting an application for the UK Entrepreneur Program:
1. Lack of research: The UK Home Office expects you to invest your time while submitting an application. You should have done thorough research on the business that you intend to start or buy in the UK. You should have a proper understanding of your targeted customers. You should also have done proper research on the location that you wish to start your business in.
Apart from this, things like whether there is demand for your business, the kind and number of employees you would need etc. also should be researched upon. If your research or engagement falls short, there is bound to be a rejection.
2. Incomplete documentation: The list of supporting documents that you would be expected to submit is extensive. You would need to spend time collating the same from various sources like your Chartered Accountant, Bank or Financial Managers. Also, you would need to ensure that the required documents are in the specified format.
Print-outs are not accepted. You would need to submit originals or certified copies as specified. Not submitting the correct documents or incomplete documents can also be a reason for the UK Visa to be denied.
3. Weak business plan: You should have a compelling business plan. The onus is on you to prove that the business you have in mind is viable. Hence you need to research the market thoroughly and submit a strong business plan. Your business plan has to be original. It cannot be copied off the Internet. Also, one business plan cannot be used for multiple applications. The business plan also should be clear and explanatory.
4. Weak interview preparation: Once you have submitted the application, you would need to attend the Visa interview. You need to prepare well and know your business case inside out. You should research on the probable questions that may be asked regarding your business. You should be able to explain your business plan to the Case Officer interviewing you.
It is utmost necessary that you double check your UK Visa Application prior to submission. You should ensure that you have not missed anything in your application that could result in a denial.
Y-Axis offers a wide range of visa and immigration services as well as products to overseas immigrants including UK Tier 1 Entrepreneur Visa, Business Visa for UK, Study Visa for UK, Visit Visa for UK, and Work Visa for UK.
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