The Genuine Entrepreneur Test
Posted on December 28, 2014
Top tips for passing the Genuine Entrepreneur Test:
1) Submit the right documents
There is no list of required documents for the Genuine Entrepreneur Test but the Home Office guidance contains some helpful suggestions. The Home Office will look at a candidate’s background to make sure they have sufficient knowledge to run a business and will consider if the applicant has carried out research into their proposed business.
2) Know your audience
Make a business plan clear and easy to understand with supporting documents that cover these key questions:
- What will the business do?
- Why does the applicant think it will be successful?
- How is the applicant qualified to run this business?
- How will the funds invested into the business be spent?
- How will the applicant meet the requirements for an extension of an Entrepreneur visa in 3 years time?
If the answers to these questions are not clear then the Home Office may have doubts about whether an applicant is a genuine entrepreneur and could refuse the application.
3) Know the law
If interviewed by the Home Office the applicant should be able to answer questions about the basics of employment and tax law or at least indicate which professional advisor would be assisting with that part of the business.
4) Know the business
It is vital that an applicant can demonstrate, either through the papers submitted or at interview, an understanding of how the business will operate and their role in it.
Even if the applicant demonstrates sufficient funds to invest in the business and there is a clear business plan for how to use these funds, the Home Office will refuse the application if it does not think the applicant will be involved in the running of the business.