Tier 1 – Entrepreneur and Investment Opportunities
Visas are available to foreign nationals who wish to invest in businesses by setting up, taking over, or being actively involved in the running of a business.
With these visas you can achieve British citizenship for you and your dependents after six years if requirements are met.
Further if any of your young adult children wish to be involved in entrepreneurial activity provided they are at least sixteen years old, they too can apply in their own right under the Tier 1 (Entrepreneur) visa.
Investing in a new country will always be unfamiliar and challenging. To do this together with moving your home and family would ordinarily complicate matters further. However, we are well placed to support you to ensure that you achieve both your business objectives and UK residency.
What happens next if you are an entrepreneur?
The first stage is to have an informal meeting with you where we can discuss your requirements and answer any queries you may have. We will agree the services that you want and give you a clear step by step guide as to the process.
We can, uniquely, also identify for you potential entrepreneurial activities in the UK. We have with our trusted partners a breadth of experience in various sectors within the UK economy.
We will advise and assist you with your Tier 1 (Entrepreneur) visa application. UK Entry Clearance Officers must also conduct a genuineness test where he or she examines the viability and credibility of the whole application. To help you with this test we can provide you with:
- Market research on potential acquisitions.
- Market research on potential investments based on your business experience and preferences.
- Help with a professionally produced business plan for your proposed investment. We will help to ensure that your application for your initial three-year entrepreneur visa is successful.
With our company law services and tax department we can provide advice and support to help you start your new business or invest in an existing UK entity.
During the first three years of your visa we will help you to prepare the detailed documentary evidence you will need to ensure a successful transition to the two-year extension visa which will lead to permanent residency.
The basic requirements for the initial three-year entrepreneur visa are:
- You have £200,000 available to invest in the UK (or £100,000 if you join with another individual who is also able to invest £100,000).
- You can show maintenance funds of £900 (or £3,100 if outside the UK) for ninety days prior to your application.
- You have the required English language capability (you should be the holder of an accepted English language degree or accredited English language qualification or be a national of a majority English speaking country)
Successful applicants will be granted three years and four months initially. Please note that if you are granted leave under Tier 1 (Entrepreneur) visa requirements you will not be able to take employment outside the business or businesses you have established, joined or have taken over. You also cannot be employed as a professional sports person or a sports coach and you will not be able to claim public funds.
To secure the two-year extension visa you will need evidence to show that:
- You were appointed as a director of a UK company within six months.
- You have invested £200,000 in UK business(es) via equity or an unsecured loan.
- Your investment has resulted in the creation of the equivalent of two full time jobs for twelve months.
An entrepreneur will be able to apply for settlement after five years in the UK but there is also the possibility of an accelerated grant of indefinite leave.
The period will be shortened to three years if you have either established a new UK business or businesses that has or have created the equivalent of at least 10 new full time jobs for persons settled in the UK or taken over (or invested in an existing UK business(es) and the investment has resulted in a net increase in the employment provided by the business(es) for persons settled in the UK by creating the equivalent of 10 new full time jobs).
Following the five-year period (or 3 year period) you can apply for indefinite leave to remain. You must meet the residency requirement which means you must have spent at least 185 days per year in the UK.
To find out more about how we can help you or your business, contact Rosalyn Chowdhury.