UK Business Immigration by investing £200,000

Content

• Introduction
• Do I qualify to come to the UK to run my own business?
• EC Association Agreement countries
• What about my family
• What about extending my Visa?
• How do I apply?

Introduction

The entrepreneur visa category is for people wishing to come to the UK to start a business. You may start any type of business, but you must work full time in the management of the business.

If you intend to be a passive investor investing at least £750,000 (about US $1.35 Million) then please go to the UK investor's Page.

If you intend to send someone else to the UK to run your business for you, then please go to the UK Sole Representative's Page.

This sort of visa application is often called a "Business Status application".

If the investment is considerably greater than the minimum £200,000 the Home Office is likely to be less stringent with the other requirements of the rules and the application may be processed more quickly.

Do I qualify to come to the UK to run my own business?

If you are a national of a country that is not covered by the EC Association Agreement, you will need to show that you will:

• Invest £200,000 in a new UK business.
• Create full time employment for at least 2 EEA nationals
• Work solely in the business
• Have sufficient funds to accommodate and maintain yourself until the business is profitable.
• Have a controlling interest in the business.
• Take a share of the business's liabilities
• Be implementing a business plan that looks to be thorough and viable

The money to be invested in the UK should be your own and not from any other source (e.g. bank loans). It can be held in the form of cash and share capital and the investment should give you an equal or controlling interest in the business.

EC Association Agreement countries

If you are a national of one of the countries covered by the EC Association Agreement (Bulgaria or Romania), you can gain entry to the UK to start a business without having to fulfill the £200,000 investment requirement or create employment. However you will still need to show that you have a realistic business plan, and sufficient funds to cover living expenses until an income can be derived in the UK. Please go to our Working in the UK under the EC Association Agreement page for further details of this.

What About My Family?

You may apply for your spouse and children to accompany you as your dependants. Your spouse/partner and dependent children may work as long as they have permission to stay in the UK.

Education

Your children entering the UK as your dependants are entitled to the same free education as British children. You may choose to send your children to a private school if you wish.

Health care

You and your family are eligible to free health care provided by the National Health Service. You are not required to take out private health insurance, although you may choose so to do.

Work

Your spouse is entitled to take up any lawful employment.

What about extending my Visa?

You will normally be granted a visa valid for a period of two years. During this time you must usually make the full investment and create the required 2 jobs. At the end of the second year, the visa can be extended by applying to the Home Office. The extension application will need to be accompanied by documentation showing the progress that your business has made; as long as the business looks viable, the investment has been made, and the jobs have been created, then the Home Office will normally grant a three-year extension to your visa. Towards the end of five years stay in the UK you may apply for indefinite leave to remain (Permanent Residence). A year after being granted indefinite leave to remain you may apply for naturalisation as a British citizen.

How do I apply?

The visa application should be made to a British Consulate in the country of your usual residence or the country of your nationality. If it is clear that you have a very strong case (for example, where the sum to be invested is significantly more than £200,000), it may be approved quite quickly by the consular officials. However, if your case requires more careful assessment, it will be referred to the Home Office in the UK. When applications are referred to the Home Office, processing can take many months.

The application should be accompanied by:

• Passports
• Visa fee
  
• 2 passport photos for each applicant
• Business plan which should include:
• Evidence of the funds to be invested
• The object of the business
• A detailed description of employment created.
• A projected balance sheet, including:
• The financial outlay
• Any loan to the company
• Assets
• Stock
• Profit and loss projection
• Overheads including:
• Establishment expenses
• Admin expenses
• Depreciation

You may be asked to justify the assumptions made in the business plan for example with market research.

workpermit.com is able to help you with all areas of the application – including, if necessary, the business plan.

If you would like to apply for entrepreneur visa , please fill out our on-line from.