Business Visa Law Uk

BUSINESS VISA LAW
  1. This visa category is for people wishing to visit United Kingdom to start a business.
  2. Any type of business may be started, but the person wishing to get this type of visa must work full time in the management of the business and invest £2,00,000.
  3. If such person want to be a passive investor investing at least £750,000 (about US $1.435 Million) may also apply for this type of visa.
  4. If you are a national of a country that is not covered by the EC Association Agreement, you will need to show that you will:
    1. Create full time employment for at least 2 EEA nationals
    2. Invest £200,000 in a new UK business.
    3. Work solely in the business
    4. Have sufficient funds to accommodate and maintain yourself until the business is profitable.
    5. Have a controlling interest in the business.
    6. Take a share of the business's liabilities
    7. Be implementing a business plan that looks to be thorough and viable
  5. The money to be invested in the UK should be your own and not from any other source (e.g. bank loans).
  6. It can be held in the form of cash and share capital and the investment should give you an equal or controlling interest in the business.
EC Association Agreement countries
  1. Unless you are a national of
    1. Bulgaria,
    2. The Czech Republic,
    3. Hungary,
    4. Poland,
    5. Romania Slovakia,
    6. Estonia,
    7. Latvia,
    8. Lithuania or
    9. Slovenia,
entry to the UK as an investor will require you to invest £200,000 in the UK.
  1. If you are a national of one of the countries covered by the EC Association Agreement (Bulgaria or Romania), you can gain entry to the UK to start a business without having to fulfill the £200,000 investment requirement or create employment.
  2. However you will need to show that you have a realistic business plan, and sufficient funds to cover living expenses until an income can be derived in the UK.
  3. You may apply for your spouse and children to accompany you as your dependants.
  4. Your spouse/partner and dependent children may work as long as they have permission to stay in the UK.
Visa Period
  1. Initially get a visa valid or a period of 12 months.
  2. During this time you must usually make the full investment and create the required 2 jobs.
  3. At the end of this first year, the visa can be extended by applying to the Home Office.
  4. The extension application will need to be accompanied by documentation showing the progress that your business has made; as long as the business looks viable, the investment has been made, and the jobs have been created, then the Home Office will normally grant a three-year extension to your visa.
  5. After a total of 4 years in the UK you may apply for indefinite leave to remain (Permanent Residence).
  6. A year after being granted indefinite leave to remain you may apply for naturalisation as a British citizen.
APPLYING FOR THE VISA
  1. The visa application should be made to a British Consulate in the country of usual residence or the country of the applicant's nationality.
  2. If it is clear that the applicant has a very strong case (for example, where the sum to be invested is significantly more than £200,000), it may be approved quite quickly by the consular officials otherwise it will be referred to the Home Office in the UK.
  3. It may also be referred to the Home Office for security clearance if you are a citizen of Russia, North Korea, Liberia, or Iraq.
  4. When applications are referred to the Home Office, processing will normally take 9 months.
  5. The application should be accompanied by:
    1. Passports
    2. Visa fee of £50
    3. 2 passport photos for each applicant
    4. Business plan which should include:
    5. Evidence of the funds to be invested
    6. The object of the business
    7. A detailed description of employment created.
    8. A projected balance sheet, including:
    9. The financial outlay
    10. Any loan to the company
    11. Assets
    12. Stock
    13. Profit and loss projection
    14. Overheads including:
    15. Establishment expenses
    16. Admin expenses
    17. Depreciation
Introduction:
  1. This scheme of innovator was introduced for the entry of entrepreneurs with an exceptional business idea, but with little capital.
  2. Some of the requirements for the scheme are as follows:
    1. The idea must be new and innovative.
    2. It shall bring exceptional economic benefit to the UK.
    3. There must have sufficient funding in place or agreed in principle.
    4. Applicant must create employment for at least two people.
    5. Applicant must have significant business experience.
    6. Applicant must have at least a five percent ownership in the proposed business.
  3. This category is very different from other UK visa categories as it is based on a points system.
Personal Characteristics- Minimum Score 15
 
Business Experience:
  1. Business or Management Experience: Maximum of 15 points
  2. Experience in proposed business area: 5 points for one year or more.
  3. Work or research experience in the chosen field: Up to 10 points.
  4. Experience in the UK or in exporting to the UK: Up to 5 points.
  5. Experience in starting up new businesses: Up to 15 points.
  6. Qualifications: Maximum of 10 points.
  7. Relevant Reference: 5 points
Business Plan-Viability-Minimum Score 15
  1. Financial Viability:
    1. Start up capital available for the business: Up to 15 points.
    2. References from experts in area of business: Up to 10 points.
  2. Commercial and technical viability and management plan:
    1. Market research or contact with potential Clients: 5 points.
    2. Positive commercial reference from expert in relevant field: 5 points
    3. Positive technical reference from expert in relevant field: Up to 10 points
    4. Details of management team: 5 points
    5. Confirmation that you will own at least 5 percent of the proposed business.
ECONOMIC BENEFIT TO THE UK-Minimum Score 30
 
Jobs and skills:
    1. Full-time jobs created in the first twelve months: Up to 25 points.
    2. Number of science/technology graduates who will be employed in the business: Up to 15 points.
Innovation:
    1. Introduction of new technology, processes or products to the UK or to a specific industry. 25 points
    2. Intellectual property rights to be used in the business: 25 points
    3. Investment in research and development in the first twelve months: Up to ten points for GBP100K.
    4. If the business is primarily internet based: 25 points.
    5. If the business will increase the level of e-commerce activity in the UK: 25 points.
  1. Initial visa is granted for a period of 18 months. It will be based on you meeting the requirements of the points system. The business does not need to start until you have entered the UK.
  2. Visa may be extended for a maximum period of four years.
  3. This application should be successful if you meet the following requirements:
    1. You and your dependants have been able to support yourselves during this period without needing public funds.
    2. Also, you have not had to take other employment during this time.
    3. You have created at least two full-time jobs in the first twelve months of trading.
    4. You can demonstrate at least a five percent ownership in the UK business.
    5. Your business continues to exist, and has sufficient funds to continue trading.
    6. After a total of 4 years in the UK you may apply for indefinite leave to remain (Permanent Residence).
    7. A year after being granted indefinite leave to remain you may apply for naturalisation as a British citizen.