How to expand your business in the UK

How to expand your business in the UK
 
Are you a businessperson wishing to expand and settle in the United Kingdom?
 
Try the Tier 1 Route
 
While Brexit has created a great divide between the UK government and the rest of the world, especially with its closest neighbours in the European region, aspiring entrepreneurs have nothing to worry about.  In an effort to help build and stabilise the economy, the government actively continues to encourage foreign entrepreneurs to move into and do business in the country.
 
The UK remains a lucrative market despite the referendum, and the government wants the public to know that. Yes, there has been extra strictness imposed on visa applications lately, but the special visa—Tier 1 Entrepreneur—to entice entrepreneurs remains amongst its many priorities.
 
So how do you become eligible for this type of visa?
First, you should be at least 16 years old.
You must not be a citizen of Switzerland or any European Economic Area (EEA)-member country.

You will also need to prove that you have access to less than £200,000 (US$249,800) disposable funds in the UK and held by one or more regulated financial institutions. This is the only way an applicant can obtain an Entry Clearance (EC) as a Tier 1 (Entrepreneur) Migrant from the UK government.
 
Or you have at least £50,000 (US$62,450) made available by:
  • a UK-based seeding firm authorized by the UK Trade and Investment (UKTI);
  • any state department that offers funds solely for aiding entrepreneurs to build or expand in the country;
  • any venture capital company registered with the Financial Conduct Authority (FCA)
 
*Note: the UK government will recognize and count towards the required level of funding all money invested within 12 months prior to your visa application.
You also need to pass the UK entrepreneurship test. The government will use this to gauge your sincerity and capability to either establish your own business or lead an existing business in the country. The Entry Clearance Officer (ECO) will be the one to determine your capability to run a business within six months from the day you enter the country on the newly approved visa.
 
Since the government wants you to become fully able to speak the language used both in everyday scenarios and business transactions, you are required to pass an approved English language test to the level B1 standard. If you hold a degree that was taught in English (even if you obtained it outside the UK), you no longer have to take a language accreditation exam as it is equivalent to this level of language proficiency.
 
You should be able to support your stay in the country; meaning that the £200,000/£50,000 should only be used solely for business purposes. You should convince the government that you are capable of paying your house and food (without using your business funds) until your visa expires.
 
If you plan to do business in the country with other entrepreneurs, you can take the Entrepreneurial Team route under the same visa category. You and your team members must meet the individual requirements mentioned above. You should not also share the same funds with different entrepreneurial teams.
 
Other vital visa details
  • Processing times for this visa typically last up to three weeks. You can check this link to find out how long getting a visa might take in your country.
  • Applicants are required to apply at least three months before your desired travel.
  • The visa is granted for a period of three years and four months.
  • Fees vary depending on category.
  • If you apply for yourself (via post or online): £1,204
  • If you apply for yourself in person outside the UK: £963
  • If you’re from Turkey: £1,149 (online);  £908 (outside the UK)
  • If you apply for your dependents: £1,204 each person (online); £963 each person (outside the UK)
  • The holder of this visa can apply for Indefinite Leave to Remain (ILR) after either 3 years or 5 years, depending on their circumstances. For visa extensions, follow this link.
 Considering a business visa to the UK? There are many options to consider. Discuss this and more questions about doing business in the UK, talk to a registered UK Migration Consultant
  
 About Migration Expert:
Migration Expert is the visa & immigration consulting company of choice in Australia, Canada, the UK and the US. Their registered consultants provide expert legal counsel for all aspects of immigration law and visas, including family-sponsored immigration, employment-sponsored immigration, investment immigration, temporary visas for work and college, permanent residence, citizenship, consular visa processing, waivers, and appeals. 
 
Interested in living, working, studying or traveling to Australia, Canada, the UK or the US? Contact Migration Expert, a widely recognized immigration consulting company. Visit our website at www.migrationexpert.co.uk or phone for a consultation with a Registered UK Migration Consultant at 011.44.203.100.5200Get more updates on UK Immigration by following us here. For more visa-related questions, speak to one of our OISC-registered UK migration consultants. 


 
 

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