With its thriving business environment, strong economy, and high standard of life, the United Kingdom continues to attract thousands of investors every year. The British government also encourages foreign investors to carry out their business operations by providing flexible UK Business Visa options. This also leads to permanent residency and British nationality for the investors.
United Kingdom, a member of G8 countries, is home to a number of affluent business owners who go there to pursue their goals of settling down with family. Prospective applicants need to demonstrate that they can establish their own business or invest in an existing business. UK boasts of a competitive tax system and a strong legal system that supports investors and their interests.
Here is everything you want to know about the UK Business Visa.
UK Tier 1- Entrepreneur Visa
It is a UK Business Visa category that allows high net worth individuals to invest in the UK by either establishing a new business or purchasing an existing one. The Tier 1 Visa to the UK is one of the fastest and most secure ways to obtain UK residency. Investors can apply for citizenship after a certain period of time.
Upon approval, the visa will be granted for three years, which can be renewed for another two years through an additional investment of £2 million in the UK. The candidate does not require to demonstrate fluent English communication skills to obtain a visa. The duration of the stay is fully dependent on the amount of investment made by the applicant.
Basic requirements for UK Tier 1 – Entrepreneur Visa
To apply under this program, the candidate must prove that he/she has true intentions to settle in the UK by assuming a full control on a business. Also, it is mandatory for an applicant to score a minimum of 95 points, which includes source of funds, language proficiency, investment plan, and maintenance of funds.
(Ajay Sharma is president, Abhinav Outsourcings Pvt. Ltd.)