The immigration policy in the UK will always be subject to debate and criticism but the clear message from all Governments has been that they welcome inward investment and invite entrepreneurs who will invest and create jobs.
Whether you are thinking of starting a new venture in the UK or setting up a branch or expanding your operations in the UK, the Tier 1 entrepreneur visa may be a suitable option..
The Tier 1 Entrepreneur programme allows applicants and their family members to settle in the UK if they invest £200,000* in an existing UK business or set up a new business.
The basic requirements are that the applicant (and in some cases his or her business partner);
- have access to at least £200,000
- have a solid business plan
- have basic English language skills
A visa will initially be granted for 3 years and four months during which period the applicant must register the business with HMRC, must invest the sums in the said business and create two full time jobs for at least a twelve month period.
After the initial period if the applicant can demonstrate the above, an extension is granted for a further two years. Subject to the applicant maintaining residence in the UK for at least 180 days year and completing a Life in the UK test the applicant will be eligible to apply for permanent residence.
The minimum time period required for permanent residence can be fast tracked to 3 years if the applicant is able to show that the business has generated at least 10 full time jobs for a 12 month period or the business turns over more than £5 million.
Child and Child have a well-rounded team with connections with many businesses. Our firm is made up of entrepreneurial lawyers who understand the needs of business.
Whether our client has a business idea and needs help with a business plan or does not have a specific idea and is looking to invest in an existing business we have a solution.
We provide advice on the feasibility of any business and carry out any company /commercial work required to set up a company, draft contracts for the acquisition of any business and any other business advice that the entrepreneur is likely to require once in the UK,
*There is also a £50,000 route available but this must be made available by a venture capital firm registered with the Financial Conduct Authority (FCA), a UK entrepreneurial seed funding competition endorsed by UKTI, a UK government department making funds available for the purpose of setting up or expanding a UK business