Non-European applicants are graded on a points-based system, with a successful application dependent on a minimum score of 95 points.
Points are awarded for the ability to pass an approved English language test as well as the means to maintain a reasonable standard of living. There are different eligibility requirements depending on whether you have access to £50,000 or to £200,000.
- If you are relying on £200,000, it must be your own money, held as cash in a bank account in your personal name
- If you are relying on £50,000, it must come as an investment from a UK venture capitalist firm or UK entrepreneurial seed funding competitions
All business proposals for the UK need to be seen as viable. The Home Office will take following into account:
- Relevant market research
- The financial viability of the submitted business plan
- The background of the applicant concerned
Families of all applicants holding a Tier 1 (Entrepreneur) visa are permitted to stay in the UK.
Holders of this visa may stay in the UK for a maximum of three years and four months. After this, you may extend your visa for a further two years or three, if you are transferring to another visa category.
If you remain in the UK for five years you will be able to apply for Indefinite Leave to Remain (ILR).
All holders if a Tier 1 (Entrepreneur) visa must create employment for local workers in the UK. Unlike with other visa classes, absences of up to six months per year are permitted without affecting the applicants’ ability to acquire ILR.
Sable International is a service run by our sister company, which strives to take the logistical and administrative hassle out of moving your business abroad.
Having operated in this space for over two decades, their dedicated team has an in-depth understanding of the complicated procedures involved in international finance and migration.
Their range of services include:
- UK business registration and provision of a registered office
- UK bank account setup
- Payroll, VAT and Corporation Tax registration
- Immigration advice and solutions, including Tier 1 and Tier 2 visa applications
- Accounting services and tax advice
- Facilitating international money transfers
- Advice on working regulations and legal structures in the UK
- UK company secretarial services
If you are thinking about taking your business to the UK, speak to one of their consultants for help and advice.