Points-based immigration system (United Kingdom)

The points-based immigration system is the means of regulating immigration to the United Kingdom from outside the European Economic Area (EEA). The scheme was phased in between 2008 and 2010. It is composed of five "tiers" which replaced all the previous work permits and entry schemes, including Scotland's Fresh Talent Initiative. The system was administered by the UK Border Agency the predecessor of UK Visas and Immigration.

(Open) This category is intended for entrepreneurs who want to set up or take over an existing business (or businesses) in the UK. This route requires entrepreneurs to be actively involved in running of their businesses either as company directors or as self-employed. Entrepreneurs are allowed to be employed and work only in the businesses they are involved with.

Successful applicants are granted with three years of initial leave to remain and those applying must have access to at least £200,000. Under certain circumstances, the applicants can apply if they have access to only £50,000. The funds can be shared by up to two people where they can apply as an entrepreneurial team. The initial leave will be further extended by two years if the applicants demonstrate that they have invested the funds in their business (or businesses) and created at least two full-time positions that existed for at least 12 months during the three-year initial period.

To prevent abuse of the route, all the applicants are subject to a Genuine Entrepreneur Test in which they must demonstrate the credibility and genuineness of their business (or businesses). In some cases, the applicants could be interviewed or asked to submit extra evidence.

After 5 years of leave on Tier 1 Entrepreneur, the applicants could potentially apply for Indefinite Leave to Remain (ILR) in the UK. The route allows the most successful entrepreneurs to apply for settlement within the first three-year under the Accelerated Route if they demonstrate that their business generated a turnover of at least £5m or created 10 full-time jobs for 10 people lasting 12 months or more.

International students are no longer able to apply for Tier 1 (Entrepreneur) route within the UK. Instead a separate route under Tier 1 (Graduate Entrepreneur) exists in which international graduates who have been officially endorsed by either the Department for International Trade (DIT) or a UK higher education institution (HEI) can apply to remain in the UK to pursue their business ventures.

...
Wikipedia