International students in the UK who have a viable business idea may apply for the Tier 1 permit for graduate entrepreneurs. This permit allows them to set up their own business in the UK. Thus, successful applicants are allowed to extend their stay in the UK to set up one or more business in the UK.
You can apply for the Tier 1 permit if:
- You are not a citizen of any country in the EEA (European Economic Area) or Switzerland
- You should have graduated from an educational institution in the UK and should be officially endorsed for having a viable business plan
- You meet all the other eligibility requirements
However, from 6th July 2019 Tier 1 permits under the graduate entrepreneur category will be replaced by the Start-up permit. This new category exclusively caters to entrepreneurs with high potential starting a business for the first time.
The application for this permit can be submitted 3 months before your intended date of travel to the UK. Other eligibility requirements include:
- You aren’t a citizen of the EEA and Switzerland.
- You wish to set up a business in the UK.
- Your business idea must be endorsed by a higher education institute in the UK or a business organization that supports UK entrepreneurs.
- You aren’t required to make an initial investment.
- You must be aged at least 18 years old.
- You must fulfil English language requirements.
- You must have enough funds to support your stay in the UK.