We saw some major announcements coming earlier this year in March 2021, in the form of new reforms to streamline a few existing business visas in the UK.
The streamlining is being done to attract the best international talents and build back a Global Britain.
This, in fact, is a perfect way to expand the business in the UK. The ever advancing Uk’s economy is welcoming overseas businesses to come, invest and expand.
In this article, we will be discussing two important business visas, Investor visa and Sole Representative visa or overseas business visa and how you can make applications for the same.
UK Investor visa
Also known as, Tier 1 Investor visa. It is for those overseas individuals who are willing to invest a significant amount of money as much as £2 million in actively trading companies in the UK.
This visa route is not a direct path to set up a branch in the UK.
Also, the amount of investment to be done must be in pounds sterling and must be able to prove that the money belongs to you or your spouse and is disposable in the UK market.
This visa allows you to stay in the UK for 3 years and 4 months and subsequently you can extend it for another 2 years.
Tier 1 Investor Visa leads to settlement(ILR) after 5 years with £2 million investment.
Other options are £5 million and £10 million which can lead to settlement in 3 years and 2 years respectively.
Sole representative visa
Also known as an overseas business visa. This visa allows you to send a sole representative to the UK to test the UK market and if you meet the conditions you can set up a branch or wholly owned subsidiary in the UK.
A sole representative must be a senior person in the parent organisation, preferably at management level who can take independent decisions on behalf of the business owner.
To set up a business presence in the UK, a sole representative cannot be a majority shareholder in the organisation overseas. He must also meet basic eligibility criteria for A1 level English language proficiency, enough finances to support oneself in the UK without accessing the funds.
The Parent organisation must also be genuinely trading overseas and aims to conduct the very same business activity in the UK.
There is no limit to the financial investment, the business must be genuine and honest in nature and aims to trade lawfully.
As a sole representative you can stay in the UK for a period of 3 years in the beginning and then extend it to 2 more years.
Once you have completed 5 years you can apply for settlement(ILR).
Legal assistance to make the right choice
There are many options to invest in the UK’s lucrative market, you must seek legal advice before you make the decision based on the requirements and eligibility criteria you meet the best.
Immigration specialists A Y & J Solicitors are experts in UK visa and immigration. Their bespoke advice can help you make the right decision and achieve your immigration journey hassle-free.
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