Why has it become harder to apply to get an approval for the U.K. tier 1 entrepreneur visa?

While researching for my options to establish a company in the U.K., I learned that the approval rate for tier 1 entrepreneur visa is dropping dramatically. Why is this? Does it have something to do with Brexit? Is it still a good time to apply?

Answers

On October 22, 2018 Yana Tyler answered:

The approval rate for tier 1 entrepreneur visa had dropped after genuine entrepreneur test was introduced. According to the latest statistics published by the Home Office, the approval rate has actually gone up for this visa category. As long as all immigration requirements can be met, an application can be submitted at any time.

On October 19, 2018 Jonathan Hendry answered:

I'm not aware of the latest statistics, but in our experience, and from what we’ve heard, UKVI recently seems to be taking a more helpful approach to entrepreneur applications. Of course, poor applications will usually be refused and perhaps there had been a spike in poor applications. Brexit would certainly have nothing to do with an increased refusal rate, as the U.K. is trying to encourage good business.

On October 19, 2018 John Carmichael answered:

That is a very difficult question to answer. It could be a number of reasons but certainly we have not seen a decline in the number of applications being approved. An application will not be declined if eligibility is assessed correctly and the correct supporting evidence supplied.

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