Tag Archives: UK Entrepreneur visa tips

What Entrepreneur Visa Options are Available to Set Up a Business In the UK

Have you been looking into what the visa options are to start a business in the UK?
Migreat spoke to Seedcamp, a London based pan-European accelerator funded by a group of 30 investors, about visa options and what is important to know about immigration before moving to London to start a company. Here’s a recap of the podcast.

 
What are the main things a foreign entrepreneur needs to know about UK visas & immigration? [Minute 4.09]
  • You have more options than just the Entrepreneur visa: Investor, Graduate Entrepreneur, Prospective Entrepreneur, Exceptional Talent visas are options for you to consider.
  • People should think about their visa choices strategically and about the long term. Migreat recommends that you always ask for expert advice from regulated experts – it will save you time and money.

How to make your choice between all visa options? [Min 5.45-6.30 & Min 8.50-11]
To make a solid and informed choice, Migreat recommends you consider:

  • your current visa situation
  • the capital you have access too
  • your plans and the time you want to spend in the UK

A better deal for the Entrepreneur visa? [Min 7.25]
If you are accepted into Seedcamp or another endorsed incubator in the UK – you have to show £50K in capital to apply to the Entrepreneur Visa.


Make sure you get the paperwork right. 
[Min 13.30]
Most applications are refused because of paperwork mistakes. Understand that the UKVI judges your application by the paperwork you provide. They will not typically meet you or make a google search around how well you are doing with your business.

Immigration experts are big time (and life )savers in this regard:
Consider hiring a solicitor if you want to save time, money and minimise risks to get refused with your application.


The service of an immigration solicitor fluctuates in prices[Min 17.21]
Check what is included in the price and if it is a hourly rate or a package.
Always make sure that your immigration solicitor has the credentials and experience with the visa you are applying for. [Min 22.25]
It is an investment that is worth it. At Migreat, we strive to match foreigners with a solicitor that speaks the language, understands where you are coming from and has done similar work in the past successfully.

Resources: Migreat immigration wizard to check your visa options; and Migreat guideline of the different entrepreneur visa around the world.

Tier 1 Entrepreneur Visa refused: 4 common mistakes to avoid

Applying to the UK Entrepreneur Visa? Migreat partner Josh Henderson from Enterprise Brokers tells us more about the four common errors foreign entrepreneurs to the UK have made in the past that you want to avoid.

Since the beginning of its launch in 2008, the Tier 1 Entrepreneur Visa has been the main door for entrepreneurs from around the world to the UK.

The aim of this visa route has been to bolster the UK economy by encouraging the very best from across globe to join in the UK’s rich and diverse markets.

In my view the scheme has been very successful both economically and culturally; however, in recent years the UK Home Office (HO) has witnessed abuse of the program. The previous Minster of immigration stated, “the entrepreneur route is now being targeted by applicants seeking to abuse the immigration rules” (Mark Harper, 2013)

This saw in an increase in applicant scrutiny and refusal as high as 50%  (Home Office, Immigration statistics quarterly release 2013).

Rejection of Entrepreneur Visas

With the Entrepreneur Visa refusal rate so high and scrutiny over abuse of the route, it is important for you to prepare the process in a well informed fashion. Here four tips to avoid a refusal for genuine entrepreneurs.

A solid business plan

As of 6th of April 2015 the initial visa application must be submitted with a business plan. This requirement is now mandatory and the secretary of state may take into account certain factors in assessing whether the applicant is a genuine entrepreneur. This includes checking the viability and credibility of an applicants business plan and market research in their chosen business sector (Tier 1 (Entrepreneur) of the Points Based System Policy Guidance 06 April 2015).

Due to past abuse the HO is taking a deeper look into business plan to assess if the applicant is genuine or not. If the plan was copied from other sources such as the Internet, it can be detected by a software used by the HO.

A consistent immigration history 

The UK Border Agency may call the applicant and question them on their immigration history. I myself experienced the HO investigating the intent of applicants when we had a father & son applying for an Entrepreneur Visa to open up a fast food restaurant in Leicester. After speaking with the immigration consultants in the country of origin, we found out the team had been refused an entry late 2014 due to the failure of the genuine entrepreneur test. The primary reason they were refused was that their stories did not match up whilst being interviewed.  There are future implications for applicants who provide wrong information to the HO as the assessment of any new application will take into consideration their immigration history.

Don’t mistake Investment and Maintenance funds

The Home office needs to see evidence that applicants can support themselves (and dependants) in the UK whilst starting/investing in a business. Its important to point out that the investment funds are solely for the business i.e. the £200,000 required is not to be used as maintenance. This is a common mistake for many applicants who have not consulted an immigration expert. Applicant s must have access to maintenance funds of £3,310 (applications made outside the UK) and £945 (made in the UK) for the past 90 days prior to applying.

Credible Source of Funds

If the applicantsinvestment capital has been in their bank account for less then 90 days when applying, the HO may ask for source of funds. Applicants must be able to show evidence of how and where they attained the capital. If the applicants cannot show sufficient evidence, they may be refused as the funds may have come from illegitimate sources.

What these points have shown is that preparation is key. Please be aware there are stringent rules with entering UK and you must know your business inside and out.

Want to know more?

Join Migreat Immigration Webinar on how to successfully apply to the UK Entrepreneur visa – Wednesday 25th November 2015 – 3pm London Time. Register now.

If you’re a global entrepreneur looking to start or join an existing company in the UK, get in touch with migreat.com to be assisted in the process by the best expert and get automatic assessment if you may be eligible to the Entrepreneur visa online via Migreat visa finder tool

**

This guest blog post is provided to you by Josh Henderson, CEO of Enterprise Brokers, a business matchmaking company for international entrepreneurs in the UK and partner of migreat.com

UK Exceptional Talent visa: what do you have to gain from applying to it?

Tier 1 Exceptional Talent visas are granted by the Home Office to applicants who have been endorsed by Tech City UK as world leaders in the field of tech and will allow holders to initially enter or remain in the UK for a period of three years to pursue their work. 

UK visa to work in startups in london
London Tech City – Photo credit: itproportal.com

The tech sector is booming in the UK and this route creates a new opportunity for the best and the brightest from around the world to come to the UK to work.  Below, Migreat expert Leslie Sarma lists the benefits for you to consider for this exciting visa opportunity.

Benefit 1 – staggered application fees

This visa is applied for in two stages:  first the applicant applies for an endorsement from Tech City UK and then, once that’s granted, the applicant applies for a visa from the Home Office to come to (or stay in) the UK in line with that endorsement.  In an effort to keep costs down for applicants, the Home Office has staggered the application fee – you’ll pay half the fee when you apply for your endorsement and will only have to pay the other half when you make your visa application after the endorsement is in place.  Low risk, high reward. 

Benefit 2 – no employer sponsor needed to apply

Applicants in this category do not need to be sponsored by a UK employer – unlike other UK work visas. You’ll have to show that you’re a world leader in your field and meet various eligibility criteria, but you do not need to have a specific role lined up here – or, if you do have a role in mind, you won’t need to ask that employer to apply for a sponsor license and go through the tier 2 process if they don’t wish to.

Benefit 3 – no funding requirement

As above, applicants in this category will need to meet a variety of criteria in order to be endorsed and a specific set of documentation will be required.  There is no requirement, however, that applicants demonstrate funding at a certain level if they wish to come into the UK to start a business in this category (although they will have to show they have sufficient funds to support themselves once they arrive). This means you can spend the time in the UK building your business without having to secure investment first (unlike if you were applying to the UK Entrepreneur Visa)…and you can work in the UK’s tech sector while you do it. 

UK work visas for startups
Photo Credit: The Guardian Blog

Benefit 4 – limited work restrictions

Once in the UK, holders of this visa have very limited work restrictions.  They can work for an employer or be self-employed; they can also start businesses of their own and/or work freelance in several roles at once.  This allows for the agility and flexibility needed to grow your network here in the UK and meet your goals. 

Benefit 5 – attainable extension requirements

In order to extend your initial visa as a Tier 1 Exceptional Talent for tech migrant, you’ll need to show that you have earned money as a result of employment or self-employment (including profits from a business you’ve started) in your expert field while you’ve been in the UK in this category.  You’ll also have to show that Tech City UK has not withdrawn their endorsement of you.  You won’t have to show that you’ve created jobs in the UK or that you’re earning at any specific level (but please note that there are specific document to be provided, so be sure review the Home Office’s rules and guidance carefully at the time you apply). 

 **

Could Tier 1 Exceptional Talent be right for you?

Since its inception in April 2014, there have been very few applications for endorsement in this category – visas are available! Check out the list of requirements to know if you are eligible on Migreat blog’s previous post. The Tech London Advocates community is terrifically excited about this opportunity and encourages the best and brightest from around the world to consider this avenue to come to the UK.  The tech sector is rife with opportunity in the UK – come join us!

If you want more information on how to apply for the Tier 1 Exceptional Talent Visa, you can ask our experts online on migreat.com.

leslie-sarmaThis guest blog post is provided to you by Leslie Sarma, Associate at Penningtons Manches LLP and co-chair of Tech London Advocates Talent and Immigration Working Group.

Are you eligible for the new Tier 1 Exceptional Talent UK visa?

In a previous post, we announced the availability of 200 visas for talented individuals in the tech sector to come to the UK, in a category known as Tier 1 (Exceptional Talent) for tech. These visas are granted by the Home Office to applicants who have been endorsed by Tech City UK as world leaders in their field and will allow holders to initially enter or remain in the UK for a period of three years to pursue their work. Holders of this visa can be self-employed, work for a company or even start their own business – it’s a great fit for the fast paced tech sector.

In this post, we will look at the criteria for endorsement for a Tier 1 (Exceptional Talent) visa by Tech City UK. Can you meet these criteria? If so, this could be your route to a career here in the UK.

Qualification One – Do you have a proven track record of innovation in the digital technology sector?

In order to meet this threshold, you will have to demonstrate your success in your chosen field of technology. This success can come as a director or founder of a tech sector company; or as an employee of a tech sector company. If you’re demonstrating your track record as an employee, you’ll need to show that you have a distinguished reputation in your field and/or that you’re an executive level employee holding shares in the business.

Take note that there is no requirement that the company you started or worked for be a certain size or profitability level – startups are not excluded! If you can show that you’ve got high level experience and a strong reputation in your area, then you may meet this requirement.

Business man using tablet PC

Qualification Two – Can you provide a letter of recommendation from a recognised UK expert who is familiar with your work and contributions to your field?

Every application for endorsement must be accompanied by a letter of recommendation from a UK based expert who is qualified to support your claim to be a world leader in your field. This expert should be a senior member of an established organisation with a national or international reputation for expertise in your field.

There is no specific list of acceptable organisations or individuals from which to get your recommendation letter – use your networks to find the right organisations and get advice.

Qualification Three – Do you meet at least two of the qualifying endorsement criteria?

Finally, all applicants for endorsement must demonstrate that they meet at least two of the following four criteria:

  • having led in the development of new or leading-edge technology;
  • having had significant commercial success in the digital technology sector;
  • having received or been nominated for a prestigious internationally recognised prize in the digital technology sector; and
  • having been recognised as a world-leading talent in the digital technology sector.

There is no set list of evidence to be provided to prove that you meet these criteria, but examples could include:

  • evidence of awards, speaking engagements or authorships;
  • proof of technical contributions such as maintenance of an open source project, demonstration of product or application development or evidence of contribution to patents; and/or
  • evidence of any active (or recently dissolved) digital technology businesses you have established outside of the UK.
iwBYFy24wXdY
Photo Credit: Bloomberg

There is no hard and fast list of evidence to be provided and it will ultimately be up to Tech City UK to determine whether the evidence you have provided meets the criteria. More examples and guidance can be found in Tech City UK’s Eligibility and Assessment Criteria, which can be found here:

https://www.gov.uk/government/publications/application-for-endorsement-for-tier-1-exceptional-talent-visa

And keep in mind that once you are endorsed by Tech City UK, you will need to make a further application to the Home Office for your visa to come to the UK in line with this endorsement. Obtaining the endorsement does not guarantee this application will be successful, particularly if you have an adverse immigration or criminal history.

 

**

Could Tier 1 (Exceptional Talent) be right for you?

Since its inception in April 2014, there have been very few applications for endorsement in this category – visas are available! To know the full advantage of applying to the visa, we have listed them in a blog post titled UK Exceptional Talent visa: what do you have to gain from applying to it?The Tech London Advocates community is terrifically excited about this opportunity and encourages the best and brightest from around the world to consider this avenue to come to the UK. The tech sector is rife with opportunity in the UK – come join us!

If you want more information on how to apply for the Tier 1 Exceptional Talent Visa, you can ask our experts online on migreat.com.

leslie-sarmaThis guest blog post is provided to you by Leslie Sarma, Associate at Penningtons Manches LLP and co-chair of Tech London Advocates Talent and Immigration Working Group.

5 benefits of starting a business in the UK under the Tier 1 Graduate and Entrepreneur visas

The Tier 1 Entrepreneur Visa and Graduate Entrepreneur Visa are making it easier to start a business and live in the UK.  While the UK benefits from your entrepreneurial activities creating employment and providing economic stimulus, you also stand to benefit.

Below we asked our partners Gherson solicitors to list the 5 key benefits of starting a business in the UK under the Tier 1 Entrepreneur Visa and Tier 1 Graduate Entrepreneur Visa routes. If you are looking for more information on eligibility and funding requirements, Migreat blog and website has covered the topic in many of its blog posts in the past. Just follow our entrepreneur visa category or ask directly our immigration experts online on migreat.com 🙂

1.    UK residency

The Entrepreneur and Graduate Entrepreneur visas allow you to live and work anywhere within the UK for the duration of the visa.

As long as your business is successful, it’s quite easy to have your visa extended or transfer from your Graduate Entrepreneur visa to the Entrepreneur visa .

You can apply for permanent residency within 5 years but if your yearly turnover exceeds £5 million or you employ at least 10 people, permanent residency can be achieved in only 3 years.

UK visa assistance - Migreat.com

2.    Bring your family

Both the Entrepreneur and Graduate Entrepreneur visas allow you to keep your family together. You can bring your spouse and any children under the age of 18 with you to the UK.

3.    Education and Healthcare

Under both of these visas, your children have access to the UK educational system and your family has access to the UK’s NHS free healthcare system.

4.    Favourable economic conditions

After a period of generally disappointing growth in 2011 and 2012, the UK economy has shown clear signs of recovery during 2013 which is expected to continue in 2014-15.

The good news is that this is spread between all major industry sectors and regions which are all now showing positive growth trends.

UK work visas assistance by Migreat.com
Photo Credit: Wikipedia

5.    Favourable political conditions

The attitude of the UK government is clear:

“The UK remains open to the brightest and best – genuine entrepreneurs with the ideas and motivation to drive economic growth will always be welcome in the UK.”It’s also widely accepted by academics, industry leaders and policy makers including David Cameron that:

It’s also widely accepted by academics, industry leaders and policy makers including David Cameron that:

“the future of [the UK] economy depends on a new generation of entrepreneurs coming up with ideas”.

**

For more information on the differences between the Tier 1 Entrepreneur Visa and Tier 1 Graduate Entrepreneur visas, you can check our experts’ tips in a previous post.

If you have any questions or issues regarding applying for the UK Entrepreneur and Graduate Entrepreneur visas, you ask our experts online on migreat.com or listen to our podcast below on the topic of entrepreneurial visa to the UK.

This guest blog post was produced by Gherson, an award-winning, leading independent London law firm specialising in UK immigration. Contact Gherson solicitors and ask for professional assistance on visa & immigration on migreat.com

UK visa opportunities for talented individuals in the UK Tech sector

On 6 April 2014, the Home Office officially expanded the Tier 1 Exceptional Talent category to include 200 earmarked visas for the tech sector.  This is an exciting opportunity for leaders in the sector to come to the UK to work or start a business – and it could be right for you.

Here below, Leslie Sarma from Penningtons and TLA advocate for easier immigration processes, describes who is eligible and the application process to the UK Exceptional Talent visa. For more information and if you have questions, feel free to reach out to Leslie via migreat.com.

Business woman and  project

These visas are targeted at individuals with proven track records of achievement in the tech sector.  If granted, holders of this visa will be able to come to the UK for an initial period of three years – they will not require sponsorship by an employer and they will not be required to meet a specific funding threshold to apply.  In order to apply, individuals must first obtain an endorsement from Tech City UK, demonstrating that they meet the “exceptionally talented” threshold.  If endorsed, they will then be able to make an application to the Home Office for entry clearance or leave to remain using that endorsement.

Step 1 – Endorsement from Tech City UK

The first step is applying for an endorsement from Tech City UK.  The fee to apply for endorsement is 437 GBP; and that’s payable at the time you apply for the endorsement.  In order to make this application, you’ll need to send specified documents to the Home Office so that they can be assessed by Tech City UK demonstrating that you are a world leader in your field and that you meet at least two of the qualifying criteria, which are:

  • having led in the development of new or leading-edge technology;
  • having had significant commercial success in the digital technology sector;
  • having received or been nominated for a prestigious internationally recognised prize in the digital technology sector; and
  • having been recognised as a world-leading talent in the digital technology sector.

Documents will include: a specified form, your CV and a letter of recommendation from a recognized UK expert in your field.  You’ll also have to submit documents demonstrating which qualification criteria you meet, and how you meet them.  There are specific requirements for these documents, so be sure to review the Tech City UK Eligibility and Assessment Criteria, which can be found here:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/300203/TCUKGuidanceDocument-2.pdf

Please keep in mind that even though Tech City UK will be granting the endorsement, you must send the form and documents to the Home Office at the address provided.  The Home Office will notify you by email if the endorsement has been granted.

Global Business Meeting with World Map
UK’s tech sector open to international exceptional talent

Step 2 – Application for Entry Clearance or Leave to Remain

Once your endorsement has been granted, you can make the second stage application to the Home Office for your visa.  There is a further fee of (in most cases) 437 GBP to complete this step.  You may need to make this application from inside the UK or outside of the UK depending on where you live now and your current UK immigration status (if you already reside here).  Once you have your endorsement, this stage of the process should take less than three weeks (although of course this can’t be guaranteed!)

 

The Tech London Advocates community is hugely excited about this opportunity for the sector and we encourage the best and the brightest from around the world to consider this option. We have listed the full benefits of applying to the visa this year in another blog post “what you can gain from applying to the new Exceptional Talent visa”

The tech sector is growing fast in the UK – it is an incredibly exciting time to be here.  Come join in and make your mark.  Make the system work for you with the exceptional talent visa!  And if it’s too confusing, too expensive, too slow – Let migreat.com know and they will work to assist you or put you in touch with experts who can help!

leslie-sarmaThis guest blog post is provided to you by Leslie Sarma, Associate at Penningtons Manches LLP and co-chair of Tech London Advocates Talent and Immigration Working Group.

Tier 1 Entrepreneur and Graduate Entrepreneur Visas: which should you choose?

If you are a recent UK graduate, the UK entrepreneur visa and graduate entrepreneur visa are two attractive solutions to stay and start your business in the UK. But which one to pick? Here below, Migreat partners at Gherson compare the benefits of both visas.

Who is it for? 

The Entrepreneur visa is for non-EU nationals who genuinely want to establish, join or takeover one or more businesses in the UK while the Graduate Entrepreneur visa is for UK graduates who have been identified by higher education institutions and UK Trade and Investment as having developed genuine and credible business ideas and entrepreneurial skills who wish  to extend their stay in the UK after graduation to establish one or more businesses in the UK.

Uk visa assistance online by Migreat.com

Who is not eligible to apply for the Graduate Entrepreneur visa?

If you have previously stayed in the UK on any of the following visas or schemes you are not eligible to apply to the Graduate Entrepreneur visa:

  •      Tier 1 (Post Study Work) visa
  •      Fresh Talent
  •      International Graduates Scheme
  •      Science and Engineering Graduates Scheme

What are the main differences between applying for a UK Entrepreneur and a UK Graduate Entrepreneur visa?

While for both visas you will need to demonstrate that you have a genuine business plan with supporting evidence, outlined below are the major differences between applying to each of them.

Screen Shot 2014-08-07 at 14.41.45

Expert Tip: You may be able to switch into the UK Entrepreneur visa at the end of your 2 years as a Graduate Entrepreneur if your business is successful.

Why would you choose the graduate entrepreneur route over the entrepreneur route?

The Graduate Entrepreneur visa allows you to start your business without meeting the hefty financial requirements of the Tier 1 Entrepreneur visa. To renew either visa, or to swap from the Graduate Entrepreneur visa to Entrepreneur visa, all you need to do is prove that your business is running successfully rather than raising large sums of money.

Is the UK the ‘land of opportunity’ for entrepreneurs?

Starting up a business in the UK gives global entrepreneurs access to some very favourable conditions for conducting business, including:

  •      A domestic market of 62 million
  •      500 million customers in Europe
  •      These consumers tend to be early adopters of technology and also have high disposable incomes.
  •      A favourable geographical position for trading globally across time zones
  •      A favourable political environment for conducting business

UK Work and Business Visas by Migreat.com
“the future of [the UK] economy depends on a new generation of entrepreneurs coming up with ideas” – David Cameron, UK Prime Minister
Although the stringent tests required to evidence entrepreneurial visas may discourage some potential entrepreneurs from coming to the UK, the attitude of the UK government is clear: “The UK remains open to the brightest and best – genuine entrepreneurs with the ideas and motivation to drive economic growth will always be welcome in the UK.”

For more information on the implications of current immigrations rules on the flow of international entrepreneurs to the UK, you can read Migreat’s report“A UK Immigration System open to Innovation and Promising Entrepreneurs?” that was published earlier this year.

Check if you are eligible to the Entrepreneur or Graduate Entrepreneur visa, using Migreat.com Visa finder.

This guest blog post was produced by Gherson, an award-winning, leading independent London law firm specialising in UK immigration.

Funding requirements for UK Entrepreneur visa applications: a complete guide by UK immigration experts Gherson*

The Tier 1 (Entrepreneur) Visa is for those wishing to immigrate to the UK and use their expertise to start, take-over or join one or more businesses based in the UK.

One of the more confusing aspects of applying for a Tier 1 (Entrepreneur) visa is understanding the funding requirements. Depending on the migrants particular circumstances there are different options.

Funding for your entrepreneurial venture and to apply to the UK Entrepreneur visa - Image credit to TaxCredits.net
Funding for your entrepreneurial venture and to apply to the UK Entrepreneur visa – Image credit to TaxCredits.net

Three main options for raising the required funds
If you are looking to move to the UK on the UK Entrepreneur visa, you have three choices for raising the required funds:

  •      Cash savings
  •      Venture capital or UK Entrepreneurial seed funding competitions endorsed by the UK Trade and Investment
  •      Money from one or more UK Government Departments or devolved Government Departments in Scotland, Wales or Northern Ireland

Cash: Family and Friends

162e30e2202c1e4d7ed1eae787131a3b4a5ad57c_medium

You will need to have available £200,000 in cash savings. This can be raised by yourself or with the help of third parties. To prove that you have access to this money, you will need a letter from the institution holding the funds to confirm the money is available to you. The letter must:

  •      Be an original
  •      Be written on the organisation’s official stationary/letterhead
  •      Have been issued by an authorised official of that institution
  •      Be under 3 months old
  •      Confirm that the institution is regulated by an appropriate body
  •      State your name
  •      State your account number
  •      Be dated
  •      Confirm that the money is available
  •      If the money is not in a Financial Conduct Authority or Prudential Regulation Authority fund (basically, a British financial institution), the letter must state that the funds can be transferred to the UK.

If the money is being made available by a third-party or parties, the letter must also show:

  •      The institution knows the money is to be made available to the applicant and no-one else
  •      The name and contact details of all third parties
  •      A valid copy of ID
  •      The relationship to the applicant
  •      Confirm that the money will remain available until transferred to the applicant

You must also give:

  •      A letter from an independent legal representative verifying the signatures and declarations
  •      Proof of the legal representatives authority to practice

Venture Capital & Seed Funding Competitions
Connections to VCs and Governments endorsed programs can help greatly get you a UK Entrepreneur Visa

You will only need to raise £50,000 if you’re raising the required funds for your Tier 1 (Entrepreneur) visa through any of these sources. To prove that you have access to these funds you will need to produce a recent letter from an accountant  engaged by the venture capital firm who is a member of a recognised UK supervisory body confirming the amount of money has been granted to you or to the business which you are a director of, and so funds for which you have access to.  The documents must also:

  •      Be an original
  •      Be written on the organisation’s official stationary/letterhead
  •      Have been issued by an authorised official of that institution
  •      Be under 3 months old
  •      State the applicant (and their partners’ name, if appropriate) or the name of the applicant’s business
  •      Be dated
  •      Confirm the amount of money available to the applicant, entrepreneurial team or business
  •      Confirm the name and contact details of the organisation providing the money
  •      Confirm that the money will remain available until transferred to the applicant
  •      A letter from an independent legal representative verifying the signatures and declarations
  •      A letter confirming the legal representatives authority to practice

UK Government Departments
UK Government Internet famous Logo

You will only need to raise £50,000 if you’re raising the required funds for your UK Entrepreneur visa. To prove that you have access to these funds you will need to produce a recent letter from an authorised official from a UK government department confirming the amount of money has been granted to you for carrying your business activities.  The documents must also:

  •      Be an original
  •      Be written on the organisation’s official stationary/letterhead
  •      Have been issued by an authorised official of that institution
  •      Be under 3 months old
  •      State the applicant (and their partners’ name, if appropriate) or the name of the applicant’s business
  •      Be dated
  •      Confirm the amount of money available to the applicant, entrepreneurial team or business
  •      Confirm the name and contact details of the organisation providing the money
  •      Confirm that the money will remain available until transferred to the applicant
  •      A letter from an independent legal representative verifying the signatures and declarations
  •      A letter confirming the legal representatives authority to practice

**

If you have any questions or issues in regards to funding requirements for the UK Entrepreneur visa, you can ask guidance from our immigration experts online and for free on migreat’s questions & answer forum.

This guest blog post was produced by Gherson, an award-winning, leading independent London law firm specialising in UK immigration. Contact Gherson solicitors and ask for professional assistance on visa & immigration on migreat.com 

How to successfully apply to the UK Entrepreneur Visa – Migreat Roundtable Event – March 26th, 9AM in London

On the morning of March 26th 2014, Migreat is co-organising a roundtable discussing the UK Entrepreneur visa rules and experience of applicants applying to it in order to launch its report titled “The UK Entrepreneur Visa: A golden route to the UK for promising entrepreneurs?

Produced by Migreat, the Report collects the stories and feedback from more than 60 foreign entrepreneurs who have gone through the application process in the past year to tell future applicants how to avoid common pitfalls and what challenges to expect.

Top 10 nationalities of successful applicants to the Entrepreneur visa
Top 10 nationalities of successful applicants to the Entrepreneur visa

The event will discuss the findings of the report and the most common challenges shared by foreign entrepreneurs applying as well as explore its implications for UK immigration policy, business support and the UK’s image among entrepreneurs globally. There will be time for a Q&A and networking for foreign entrepreneurs who have questions or looking for assistance to be helped. More broadly, the panel will discuss the current trend among developed countries worldwide to attract entrepreneurs through targeted visa schemes, and how the UK can maintain its lead as other countries are racing to catch up with the UK’s early lead.

Panelists:

The audience will represent a mixture of entrepreneurs, immigration experts and champions of the UK startup eco-system. If you are a prospective foreign entrepreneur looking to apply to the visa, you should definitely come join us as information on the pitfalls of such applications will be shared and discussed on the day. If you can’t attend on the day, you can follow us on Twitter via the hashtag #MigrEnts or at @Migreat

Applying to a UK Entrepreneur visa? Listen to our podcast with Seedcamp, Seed-funding program for early stage entrepreneurs in Europe.