The entrepreneur visa is a mandatory requirement according to the UK immigration Law for those who wants to establish a business in the UK. This category entices many businessmen, investors, and innovators to come to the UK and start up a business prior to the business proposal and bring many benefits to the UK economy. This is intended for people with sufficient resources and funds to study the UK market, find out the needs of the consumers, bring innovative products or ideas to the UK market and run a business. If you choose to be an entrepreneur in the UK, then you must be a full time businessman running your own business and you can never be allowed to find employment anywhere else.Under the UK immigration law, if you wish to enter UK intended to start a business then you must apply for an entrepreneur visa. In order to qualify to be an entrepreneur, here are the rules:
Additionally, you will be required to:
Participate in the overall business operations in your capacity including research, marketing, development and management of the firm. You are either a partner or a director of the company.
You will also participate in creating jobs and hire UK residents to work for you and keep them for the next twelve months and you should also carry the responsibilities of company liabilities
The applicants must make their investments through share capital, directly investing with cash or a combination of both will just be the same.
A director’s loan is not acceptable, unless it is in favour of the third party. The investment should be funded by an offshore firm or through that firm especially when the investor is the sole proprietor or owner of such firm. There should be a clear distinction between an offshore funded investment and a personal fund investment.
So you got the rules set out for you above, what’s next? You need proper documentation upon application to support the following requirements: practicality of the business proposal, the bank statements supporting your financial independence from the public funds and the financial capability to invest, and support yourself. The UK immigration law also stipulates that the applicant should have English language competency. Take the IELTS to show the evidence of your good command in English.