Are you an entrepreneur attempting for a Business visa for UK?
There are many entrepreneurs who are looking to immigrate to the UK as they are interested in investing in the economy there. They have some business idea in their minds which they wish to execute in the UK, keeping in perspective the business practices within the United Kingdom.
The fact is that there are many business opportunities in the UK relative to other economies of the world, as UK is home to one of the strongest economies worldwide.
There are basically two types of business visa for UK which you can choose from, depending on the terms and conditions which suit your and your business motives best.
One of them is known as the Tier 1 Investor Visa, while the other one as, Tier 1 Entrepreneur Visa.
- Tier 1 Entrepreneur Visa
The Tier 1 Investor Visa required of prospective applicants to have a minimum of 200,000 of funds available with them to be able to start the business project they have in mind. They will have to show solid proof of the availability of these funds, such as a bank statement.
For this kind of business visa, the applicant will have the liberty to start-up any kind of business he so wishes, there are no restrictions imposed on the category of the business project. However the restriction that is imposed is that whichever business project is initiated, the applicant must look after it on a full-time basis and not treat it as a part-time occupation.
In addition, it is required of the applicant that he must be able to create opportunities for job for 2 EEA nationals.
Moreover, the applicant for the visa must have sufficient funds available with him to sustain him and his business until the time that the business breaks even and then starts earning a profit.
- Tier 1 Investor Visa
The second type of visa that is available in the business category is the Investor business visa for UK.
The minimum financial requirement for the Investor visa is that the potential investor must have no less than 1 million pounds available in his bank account which he can potentially invest in the UK, if he intends to have his investor visa application processed.
Second, the applicant for this visa must invest at least 750,000 pounds in unit trusts or in private companies.
However, the applicant will have the option to invest the remaining funds as and how he wishes to.
Also, the applicant will have to be willing to spend at least half of his time in the UK if he is to be awarded this type of business visa for the UK.
Moreover, the applicant for this visa is not allowed to travel to the UK on this visa and be employed elsewhere other than the business. The management of his business is the only place where the applicant can employ himself when traveling to the UK on a Tier 1 Investor visa.
- English Language Requirements
Be advised that there are other requirements for both types of visas such as those for English Language which an applicant has to fulfill to be awarded the visa of his choice.
This is because it is virtually impossible for an investor to be able to work as a businessman in the UK if he is unable to communicate in English.
The criteria for English Language is that the applicants for either of the two visa have to appear for the International English Language Testing System (IELTS) and have to score a minimum of 6.5 on each of the 4 modules of the exam to pass the English Language requirements for either of the two business visas.