The number of businessperson seeking for a sole representative visa to come to the United Kingdom has soared in recent months. This is likely due to the lack of investments and capital that is already happening with the United Kingdom leaving the European Union. With less competition, the British market is becoming more attractive for international investors coming from different parts of the world that not European countries.
If you are shareholder in an overseas business venture and would like to establish the presence of your company in the British market, taking advantage of the new opportunities that are already arising from Brexit, the sole representative visa might be the appropriate route for you to come and settle in the United Kingdom.
Below you can find some frequent asked questions related to shareholding and activity of the business:
One of the requirements for the sole representative visa is a shareholding of no more than 50%, making the applicant not a major shareholder. The whole purpose of the route is to allow an associate of the company to come to the United Kingdom to represent the business.
You will need to hold no more than 50% of the share in the business in order to be eligible.
A successful applicant for a sole representative visa must be employed by the parent company in a senior job role within the company and bear authority to take operational decisions once in the UK, as indicated by their role in the company hierarchy. Agents hired to market the company’s products in the UK, sales representatives or buyers who only fulfil that role for the company and a secretaries or personal assistants are not eligible for this category.
In the event of someone being hired just for the purpose of setting up the branch, a track record of setting up branches for other companies will be mandatory.
Due to the purpose of the visa scheme, the parent company overseas must intend to operate a branch or subsidiary in the UK in the same business as the parent company. If your intentions are otherwise, this category might not be suitable for you.
Have you decided to apply for the visa, you must take steps in order to prepare the documentary evidence required by the Home Office, which involves extensive employment documents, financial documents and a solid business plan.
We recommend applicants to actively engage in preparations to a minimum of 3 to 4 months before the intended date of arrival to the UK.
Mann’s Solutions is international immigration advisory firm with offices in London, Hong Kong, Istanbul and St Petersburg and has expertise in offering Immigration by Investment services and legal support to high net worth individuals.