If you are looking to start a new business in the UK, then the most important thing that you need to do is to apply for Tier 1 Entrepreneur Visa. According to the Tier 1 Entrepreneur Visa Business Plan, individuals who have at least £200,000 of their own money can establish their new business in the UK. It is one of the best plans for those who have studied from the universities of the UK or those who have a lot of experience in working in the abroad industry.
If you are applying for the Tier 1 Entrepreneur Visa, then this guide can be very helpful for you. In this blog, we will explain some important factors that you should know before applying for Tier 1 Entrepreneur Visa.
Read on to find out some useful suggestions:
1. Funding options
- £200,000- In order to establish your new business or take over an existing UK business, you should have at least £200,000 of their own money. In order to form the funding, an applicant can also take money from a third party and can hold it for 90 days.
- £50,000- This option is available to only those, who have one or more sources of funding like endorsements by the Department for International Trade (DIT) or Financial conduct authority(FCA).
2. Business Plan - The government of UK will provide the visa to only those applicants, who have a unique business plan. Your business plan should define your target market, how you will operate, methods of implementation, your total budget, estimated annual turnover, relevant market research etc.
3. Genuine Entrepreneur Test - Every individual who wants to set up his/her business is required to clear the entrepreneur test. This is the stage where most of the entrepreneurs fail. In this test, the home office will check whether you are coming to the UK to start your business or for some other cause.
While these were some important facts that you need to keep in your mind, there are much more such as the location of investment funds, embassy interview, maintenance requirement, documents required, English language ability etc. If you are looking for a business consulting firm that can help you set up a business plan to get Tier 1 Entrepreneur Visa, then it is advisable to get in touch with ONS Business Consulting.
Comments
Post a Comment