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This Entrepreneur Visa, also known as a Business Status Application grants applicants leave to enter the UK and start a business. Making an application for this visa requires a candidate to start any kind of business in Britain. The business must form the basis of the applicant's employment. Applicants will need to show a minimum investment of £200,000 for their business.
Eligibility
This visa requires the applicants to invest in at least £200,000 in creating a new UK based business. This new UK business must form an applicant's sole employment and they must intend to perform a managerial function within the business.
Candidates must demonstrate the following to be eligible for a visa of this type:
» Applicants must show a comprehensive and feasible business plan.
» The business must make full time employment for at least 2 EEA nationals.
» Applicants must control the business and contribute to its liabilities.
» The money invested in the business must be the applicants own money and must not be sourced from any external resource, i.e. loan.
» Applicants must have adequate funds to support themselves and any dependants until the business becomes profitable.
Benefits
This visa enables the applicant to live and work in the UK without the need for a UK work permit.
Duration
UK visas are given for a period of 2 years. Applicants must make the full investment and create at least two positions for EEA nationals during this 2 year period, after which the applicant may make an application for an extension of 3 years. After 5 years, this application may lead to Indefinite Leave to Remain in the UK (ILR), then to British Naturalization as a UK citizen.
Dependents
This visa can be used as a route to permanent residency in the UK.
Countries in the EC Association Agreement
Applicants from Bulgaria or Romania may immigrate to the UK under this visa without the £200,000 investment or create jobs for EEA nationals. Applicants from these countries must still demonstrate a feasible business plan also provide sufficient funds to support themselves and any dependents until their UK business begins to make a profit.
Capital Visas can assist you
Capital Visas being a leading specialist in Immigration can help you in every aspect of your immigration process. Our immigration specialists and caseworkers have a wide range of immigration expertise and experience to assist you through the complete process. Fill out our Free Visa Assessment forms by clicking on the link below or call us NOW and speak to one of our friendly specialists on 0207 100 1919.