“Britain is open for business” – a campaign driven by many successive UK governments attracting talented entrepreneurs worldwide to set up or invest in an existing business in the UK. The Tier 1 Entrepreneur visa is the natural visa to obtain for those wishing to start or invest in a business they will actively be involved in running in the UK.
This is something London can be proud of: An unfaltering ability to attract record levels of all types of businesses from overseas. As it is proven by reports that London is the best city for international trade far ahead of its European counterparts.
By result of foreign investment and foreign entrepreneurs coming to the UK, tens-of-thousands of jobs are being created in London alone. If you have plans to start a business in any sector and set up in the UK, now is a great time to get involved.
A possible question on your mind might be “how can I set up in the UK?” We can always assist you with that but here is a quick background on what to expect.
To start you will have to meet an important criterion if you wish to apply for an Entrepreneur Visa UK; that you are a non-European national who wishes to start a business in the UK.
There are two ways you can apply for a Tier 1 Entrepreneur Visa:
- You can show proof that you have access to at least £50,000 of investment funds
- At least £200,000 investment funds
As you might have expected you cannot simply present yourself to the UK border with a suitcase full of money. That might raise a lot of questions and different problems.
So the money has to be held in one or more regulated financial institutions and be disposable. In other words, you have to have free access to spend it on a business in the United Kingdom.
If it seems too big of a burden to carry alone, the guidance allows you to have a partner.
There is a need not only to show that the funds are available to invest but that the entrepreneur has a business plan and the necessary skills and to put the plant into action. At the heart of the scheme is the requirement to create new jobs for UK workers through investment and this is a requirement to be able to obtain an extension of stay after the visa is closing on its expiration date. We at Mann’s Solutions can help you navigate and increase your chances of success dramatically, as every person has his/her circumstances that might change how a matter has to be approached.