| UK Business
Migration
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.
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