Question to the Home Office:
To ask the Secretary of State for the Home Department, if she will review the financial requirements for tier 1 Entrepreneur visas.
In March 2015, the Government commissioned the Independent Migration Advisory Committee (MAC) to assess the economic benefit of the UK’s provisions for non-EEA entrepreneurs. The MAC made a number of recommendations for reform of the Tier 1 (Entrepreneur) route. On financial requirements they recommended that:
• the Government consider setting the lower investment threshold in the range of £40,000 to £50,000; and
• the higher investment threshold of £200,000 should apply to each applicant (currently, two applicants can share the funding i.e. £100,000 each), and that there may be a case for an inflationary uplift.
The Government is currently considering the MAC’s advice, and will announce its response in due course.