How can Businessmen Settle in the UK
In this article, you will learn about how can Businessmen Settle in the UK. The immigration program many benefits, for those who pass and best of all, is that at the edge of the route, British citizenship awaits. Following many inquiries about this type of permit, we have organized short guidance on how a person can qualify for the Tier 1 Entrepreneur.
The Basic Requirements
You will also have to satisfy the genuine entrepreneur test which, in short, signifies that the ECO (Entry Clearance Officer) regarding the application will require to be satisfied that you think, and are able, to build, take over or become a director of one or more businesses companies in the UK in six months of the visa being granted/ you entering the UK on the visa. This would involve having to present a credible business plan together with proof that appropriate research has been initiated.
In addition to the above, you would also require to prove that you had passed an authorized English language test to the level B1 criterion or, alternatively, that you hold a degree that was taught to you in English and which is equivalent to a UK Bachelors degree or higher.
There is also a maintenance requirement. These funds must be separate to the funds used to confirm that you have access to 200,000.
The UK Home Office also needs all Tier 1 (Entrepreneur) Migrants, as well as any of their family members who are over 18, to present Police Clearance or Criminal Record certificates from their country of residence, as well as from any different country in which they have stayed for more than 12 months in the past 10 years.
The UK Home office also needs all Tier 1(Entrepreneur) Migrants,
Infinite Leave to Remain following a Tier 1 Entrepreneur Visa
Migrants who are living in the UK as Tier 1 (Entrepreneur) Migrants can try to apply for ILR (Indefinite Leave to Remain) after 3 years, or 5 years, depending upon their circumstances.
Key Requirements for the Five Year Route
Under the 5 year route, a candidate will apply for an extension of their initial grant of leave after they have stayed in the UK for a period of 3 years. In order to get this extension, they need to prove that they have:
1. Invested, (or had invested on their side), not less than £200,000 in cash right into one or more businesses in the UK; and
2. Within six months of their date of entry in the UK either enrolled with HM Revenue and Customs as self-employed or recorded with Companies House as a leader of a new or existing business; and
3. On a date, no earlier than three months earlier to the date of application was either recorded with HM Revenue and Customs as self-employed or recorded with Companies House as a director of a new or existing business; and
4. Has either set a new business or businesses that have created the equivalent of at least two different full time jobs for persons who are settled in the UK, or has taken over or invested in an existing business and his investments have resulted in a net increase in the employment presented by the business for persons settled in the UK Visa Service by building the equivalent of at least two new full-time jobs.
Please note that there are some other conditions, but the above mentioned are the key requirements which must be met in concerns to entrepreneurial activity. If the above can be proved, the applicant will be given an extension to their visa for further two year period and, at the end of the full five years, the migrant will then become qualified to apply for ILR.
Key Requirements for the Three Year Route
Under the 3 year route, the candidate would still have to prove the factors listed from 1 to 3 above, but if they can prove that they have created the equivalent of at least ten new full-time jobs for persons who are settled in the UK, or has taken over or have invested in an existing business and his services or investments have appeared in a net increase in the employment contributed by the business for persons who are settled in the UK by creating the equivalent of at least ten new full-time jobs and that they have been continuously living in the UK for three years, then they will be able to apply for ILR.
It is also likely to apply for ILR after three years if the candidate can prove that during the three year period the business set up or joined by the individual has generated a net income in excess of £5 million.
Well, this was the end of an article of How can Businessmen Settle in the UK. Keep in mind that there are other additional requirements, but the above are the essential requirements which must meet in regards to entrepreneurial activity.
