Business People
Introduction
A non-EEA national may come to the UK as a business person if they will be running a business full time in the UK with a personal investment of at least £200,000 in the business.
N.B. Nationals of countries who joined the European Union on May 1st 2004 (Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia) no longer need come to the UK under the business person rules as they now have the same freedom to establish and run a business here as other EU nationals.
Aims of the provision
To encourage long term investment in UK businesses and bring with it significant economic benefits to the UK by allowing high value entrepreneurs to enter and settle here.
Legal Requirements
Applicants must plan to:
- Use at least £200,000 of their own money (proven liquid funds) for investment in the UK business
- Create at least 2 full time jobs for people already settled in the UK
- Have full time active involvement in the trading and management of the business.
As with many other immigration categories, individuals also need to show that they can live in the UK without help from public funds.
Successful applicants, once granted entry to the UK, can do business as either:
- a sole trader
- a partnership
- a company registered in the UK.
As a sole trader or partner they must trade or provide services full time. As a company director their responsibilities will be different, therefore they must promote their company and manage it full time. Self-employed doctors and dentists must practise full time. The full time condition does not apply to a self-employed writer, artist or composer.
Necessary Documentation
As always the application will only be as strong as the documentation provided in support of it. Obviously, suitable documentation will vary on a case by case basis and our consultants can provide reliable advice based on individuals circumstances.
Period of Stay
At first, successful applicants will be granted permission to stay for 12 months. They can apply for an extension of stay for up to another 4 years. Permission to stay in the UK as a business person is under the condition that it is for the specific business in the application. Permission from the Home Office is required if an individual wishes to change to a different business once they are in the UK.
Indefinite Leave to Remain
After five years in the UK as an Business Person, individuals will be eligible to apply for Indefinite Leave to Remain (ILR – otherwise known as permanent residence or settlement).
Other Useful Information
Individuals need to apply for entry clearance before travelling to the United Kingdom as a business person.
- Entry Clearance processing time: Varies around the world
- Dependants: Husband/wife, dependant children under 18.
If you are interested in coming to the UK as a business person, please contact one of our consultants on 0845 226 4030 for detailed advice on your case. You must have a well-prepared business plan in order for us to provide you with worthwhile feedback. Alternatively, you can make all e-mail enquiries to info@uk-wp.com.
