Update: You can no longer apply for the Entrepreneur Visa in the UK. Individuals looking to come to the UK to set up a new business from overseas may consider the Innovator Visa or Startup Visa. Click the links to find information on how these visa options may benefit you.
The UK Entrepreneur visa is the UKBA’s primary route for foreign nationals to enter the UK and to set up businesses.
Here are the most commonly asked questions about the visa, and of course answers to the questions.
1. How do I obtain the Entrepreneur visa initially?
You need to show that you have seed capital in the sum of 200,000 GBP, you need to have additional funds to support you and your family, until your business makes a profit and you must have a good level of English.
2. How good must my English be?
You must have an approved English Test at level C1, although a Master’s or Bachelor’s degeree is fine so long as it was taught in English and is on the approved list.
3. Who can provide the Seed capital?
You can or any third party, or a combination of the two.
4. How long must the funds be in the account?
No minimum period, although we recommend that they remain in place during the applicaiton process, until the visa is granted. The funds that the business actually uses can be changed to include other foreign investors if need be,
5. Do these funds have to be in the UK?
No they can be in the UK or abroad, if they are in a foreign bank account, then the funds must be transferrable.
6. What about the additional funds for my family to live on?
This is called maintenance. These should be in the account for a period of 90 days as a minimum balance before the application is made. The exact figure is subject to change and depdends on the amount of dependents.
7.How many dependents can come with me?
There is no limit on number but only a spouse and children can be dependents.
8. What happends when I get the visa?
You then must register a company within 6 months, start or invest in a UK company, employ 2 persons and still be in business when you apply for an extension.
9. When do I have to apply for an extension?
The visa is granted for 3 years, so at the end of that period.
10. How do I start?
You can contact any of the lawyers at our law firm, and we can advise on the process and which businesses qualify you.
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