Business Entrepreneurs
Individuals can come to the UK to set up a business enterprise under the auspices of a company, in partnership or as a sole trader, if they satisfy certain requirements. The requirements are:
- that the individual has not less than £200,000 of his own money under his control and disposal in the United Kingdom. This money must be held in his/her own name and not by a trust or other investment vehicle and it must be the money that will be invested in the business in the UK; and
- that the business will provide the individual with an income that will provide sufficient funds to maintain and accommodate him/her and any dependents without him/her having to enter into employment other than working in his/her own business or without having to have recourse to public funds; and
- that the individual will be actively involved full time in trading or providing services on his own count or in partnership, or in the promotion and management of the company as a director; and
- that the level of financial investment will be proportional to his interest in the business; and
- that he will have either a controlling or equal interest in the business and that any partnership or directorship does not amount to disguised employment; and
- that he will be able to bear his share of liabilities; and
- that there is a genuine need for investment in services in the United Kingdom; and
- that his share of the profits of the business will be sufficient to maintain and accommodate himself and any dependents without recourse to employment other than in relation to his own business or to public funds; and
- that he does not intend to supplement his business activities by taking or seeking employment in the United Kingdom other than his work for business.
How does a Business Entrepreneur make an Application?
A business entrepreneur is normally required to apply for Entry Clearance from a British Embassy or High Commission abroad before he/she will be allowed to enter the UK in this capacity. There is a fee to make the application. Whilst the application is made at a British post abroad it will be referred to the Home Office in the UK to make the decision and this process can take some time.
Depending on whether the business is a new business or existing business certain specified evidence is required to be submitted with the application.
In certain circumstances it may be possible to switch from within the UK to the Business Entrepreneur category without obtaining Entry Clearance. This includes those individuals who are on the Highly Skilled Migrant Programme, Student Graduate, and Innovator, on the Science and Engineering Graduate Scheme, a Working Holidaymaker or Work Permit Holder.
What Happens if Entry Clearance and a Visa are Granted?
Initially a person will normally be granted 12 months permission to remain in the United Kingdom as a business entrepreneur. An extension of stay can be granted after 12 months where the business entrepreneur can demonstrate that the requirements referred to above have been met. An extension of stay is usually granted for 3 years after which the individual can apply for Indefinite Leave to Remain (Settlement) if the appropriate rules are still met.