Tier 1 Specific Criteria
Tier 1 is the replacement of Highly Skilled Migrant Programme (HSMP) since March of 2008. Using the point-system of HSMP, the Tier 1 requires 75 points for qualifications, 10 points for knowledge of the English language and 10 points for funds owned by the applicant. No one can work in UK as a highly skilled worker without meeting the requirements of the point system.
Tier 1 also covers those who wish to become investors and entrepreneurs in UK although each has a different requirement in terms of documentation and points.
For investors, they can immediately get 75 points if they can prove that they have at least £1 million that could be transferred to UK anytime. They have to provide the documentation on the source of funds as well as the proof that the transfer of funds is possible.
Entrepreneurs on the other hand are not required to have £1 million in funds but they will be required to have disposable funds of no less than £200,000. This fund should be transferable to UK anytime. You should also have proof on the sources of funds especially when you enlisting the help of a financial institution. Aside from £200,000, you also need to show that you have a maintaining amount of £2,800 and £1,600 on each dependent. This is very important as this will be your support fund for daily use.
Tier 1 also covers those who wish to work in UK after studying in the country with a student Visa. Points are awarded to those who have finished studying in UK. To acquire points, degrees should be earned from schools that recognized by UK. It is also important the degree was obtained in less than 12 months. The maintaining balance of £2,800 is also applicable in this scenario.