UK Immigration for Entrepreneurs

Introduction

This is for all those people who plan on coming to The UK to start up a business and the visa category allows you start up any type of business and that you also must work full time within the running of that business.

If you intend on being a passive investor, investing at least £750,000 (about US$1.35 million) then we recommend that you take a look at our UK investor’s Page.

Alternatively if it is the case that you are thinking of sending someone else to run your business for you then we suggest you take a look at our UK Sole Representative’s Page.

This particular visa application is what’s know as a (Business status application ) unless you are a citizen of the following countries:

Bulgaria
Latvia
Lithuania
Romania
Slovakia
The Czech Republic
Hungary
Poland
Estonia
Slovakia

If you want to gain entry into The UK as an investor, then you will have to invest £200,000 in The UK. Alternatively if the investment you have is considerably more than the minimum £200,000 the home office is most likely to be less rigid with the requirements of the rules, thus making the process go through more quickly for you.

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

If you are in the situation where upon you come from a country which is not covered by the EC Association Agreement, you will have to be able to prove that you will:

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

The money that you are willing to invest into The UK must be your own and it must not be from any other source, (e.g. bank loans). You can have this in the form of cash and share capital and your investment must give you an equal or controlling interest in the business.

EC Association Agreement countries

If it is the case that you come from either (Bulgaria or Romania) these two countries which are covered by the EC Association Agreement, you will be able to gain entry into The UK to start a business and not be obliged to full-fill the £200,000 investment requirement or create employment, however you must be in a position to be able to show that you have a realistic business plan and be in a position where upon you have sufficient funds to support yourself and until such a time an income can be derived in The UK. Take a look at our working in The UK under the EC Association Agreement page for more details.

What About My Family?

You may make an application for your spouse and children to go with you as your dependents. Your spouse / partner and dependent children may work providing that they have permission to stay in The UK.

Education

Your children are allowed to have the same education as British citizens and if you so wish send your children to a private school.

Health care

You and your family will be entitled to free health care with the NHS (National Health Service). You are not acquired to take out private health insurance, however you may do so if you so wish.

Work

Your spouse will be allowed to take up any lawful employment.

What about extending my Visa?

At first you will receive a visa valid for 18 months, you will be able to apply for an extension after this period, however during this time you would be expected to have made the full investment and created the required jobs and the extension application will need to be accompanied by all documents which will show how the business has progresed based on your investment. If your business interests remains viable, the home office will normally grant a three year extension on your visa. After 4 years in the UK you can apply for indefinite leave to remain (permanent Residence).

How do I apply?

All Applications for a visa should be made at a British consulate or British high commission in the country of your usual residence or the country of your nationality for entry clearance as a person who intends to establish a business or self employment, you may be asked to undertake an interview. If you are successful with your application, you will be allowed to stay in the UK for an initial period of up to two years. After this period you will need to apply to extend your stay. The chances are you will be looked on favourably if the money you have invested is significantly more then the minimum requirement of £200,000, then your application will no doubt be approved more quickly by the consular officials, it may however be referred to the home office in The UK for further consideration and possibly for a more closer assessment, irrespective of the strengths of the application. The application normally takes around nine months if you are a citizen of Russia, North Korea, Liberia or Iraq. The application will need to be accompanied by the following:

Passports
2 passport photos for each applicant
Visa fee of £50

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:
- Any loan to the company
- The financial outlay
- Assets
- Stock
Profit and lose projection
Overheads including:
- Established expenses
- Admin expenses
- Depreciation

You may be asked to justify the assumptions you have arrived at in your business plan for example, by way of market research.

We can help you in all aspects of your application- including – your business plan.