This visa category
is for people wishing to come to the
UK to start a business. You may start
any type of business, but you must
work full time in the management of
the business.
Qualification Criteria
If you are a national of a country
that is not covered by the EEA association
agreement, you will need to show that
you will:
- Invest £200,000 in a new
UK business.
- Create full time employment for
at least 2 EEA citizens
- Work solely in the business
- Have sufficient funds to accommodate
and maintain yourself until the business
is profitable.
- Have a controlling interest in the
business.
- Take a share of the business’s
liabilities
- Be implementing a business plan
that looks to be thorough and viable
The money to be invested in the UK
should be your own and not from any
other source (e.g. bank loans). It
can be held in the form of cash and
share capital and the investment should
give you an equal or controlling interest
in the business.
Visa Extension
You will initially get a visa valid
for a period of 12 months. During this
time you must usually make the full
investment and create the required 2
jobs. At the end of this first year,
the visa can be extended by applying
to the Home Office. The extension application
will need to be accompanied by documentation
showing the progress that your business
has made; as long as the business looks
viable, the investment has been made,
and the jobs have been created, then
the Home Office will normally grant
a three-year extension to your visa.
After a total of 4 years in the UK you
may apply for indefinite leave to remain
(Permanent Residence). A year after
being granted indefinite leave to remain
you may apply for naturalisation as
a British citizen.
