Do you dream of setting up a business in the UK? Perhaps you visited these shores as a child and fell in love with vibrant bustle of London. Maybe you were taken with the rural charms of the Cotswolds or the rugged beauty of Scotland.
Or it could be that for your particular industry, it just makes good business sense to be based in Britain. Despite the uncertainty over Brexit, the UK government is still keen to attract overseas investment. However, navigating the tricky waters of the UK immigration system is best done with a professional at your side. As an immigration solicitor in London with more than a decade of experience, here at Saracens Solicitors, we can guide you every step of the way.
There are 2 types of visa available to business owners who want to set up in the UK: the entrepreneur visa and the investor visa. In this article we’ll take a look at first type.
Financial requirements
You’ll need to have a big chunk of change in the bank to qualify for this visa: £200,000 or more. As well as investment capital, the UK government also requires that you show you have enough to sustain yourself throughout the length of the visa and that you have a good grasp of the English language.
Length of stay
This visa initially grants you a stay of 3 years and 4 months. There is then the option to extend for another 2, and apply for Indefinite Leave to Remain if you meet certain requirements. As your immigration solicitor in London, we can advise you as to what you need to supply to the Home Office at each stage.
It’s worth noting that you can apply for Indefinite Leave to Remain after the initial 3 years is up if your business has 10 or more full time staff who have been employed for at least 1 year over the course of your visa, or a turnover of £5 million or more.
Job creation
There is also a requirement to create jobs for existing UK residents. So, while you will no doubt want to bring some of your own trusted advisors with you, you need to create at least 2 full-time jobs for UK residents to be eligible for the visa.
