UK Tier 1 Entrepreneur Visa-Seven tips to clear the genuine entrepreneur test

The applicants of UK Tier 1 Entrepreneur Visa need to go through the genuine entrepreneur test to ensure that they genuinely intend, and are able, to set up and run their business in the UK. So, here are 7 tips for passing the genuine entrepreneur test:

Tip 1: Prepare your application properly
It is important to prepare your application very carefully and support it with all the specified documents. The Immigration Rules now contain detailed requirements and each of these requirements must be fulfilled by providing the specified documents in an appropriate format. If any item of information is missing or a document is not in the correct format then your application will be refused.
Tip 2: Prove the credibility of the source of your investment funds
You must show that you genuinely intend to invest money into your business in the UK. For this, you need to demonstrate the viability and credibility of the source of your investment funds. Your application will be strengthened if you are relying on your own funds as it confirms that you genuinely possess the money.
Tip 3: Draft your business plan appropriately
Establishing your business in the UK requires you to prepare an appropriate business plan. Though there is no fixed format for it your business plan should contain detailed information regarding your proposed business, the proposed market, and your marketing strategy.  It should also include a competitor analysis, set out staff recruitment policies and incorporate full financial projections.  If you include any figures in the business plan then they must be accurate, realistic and consistent with the documentary evidence provided.
Tip 4: Undertake relevant market research
Market research is an important part of any business plan. Hence, you must properly study the market for your product or service and provide accurate market research information in your application. 
Tip 5: Review your application for any shortfalls
It is always better to review your application several times before submitting. This is because if there be any shortfall; it would be identified at your level and thus desired steps could be taken to address it. This could involve obtaining industry-specific experience, conducting extra research or taking professional advice about establishing and running a company in the UK.
Tip 6: Provide relevant supporting documents for any claimed qualifications/work experience
If you are intending to rely upon your academic qualifications or work experience then you must provide supporting documents (original degree certificate, contract of employment or payslips) for the same as a proof of your ability to operate a business in the UK.
Tip 7: Ensure credibility
Make sure that the information provided by you as part of your supporting documentary evidence is consistent with your business plan, market research, and proposed business activity.

For further advice or assistance, Contact visa experts at Pathway Visas. Do also check Pathway Visas Reviews.