What Kind Of Business Can An Entrepreneur Business Holder Invest In?
The Tier 1 Entrepreneur Visa is a highly prized visa. Due to its generous conditions and ability for holders to extend their visa eventually leading to the option of permanent stay, the Tier 1 Entrepreneur Visa is a popular route for those looking to move to the UK in order to start a business of their own, or to invest in/take over an existing business. In this article we are going to look at the option of investing in an existing business. We will look at the types of business that you can invest in and help you to decide the most appropriate route for you in order to make a success of your stay in the UK.
Can I Invest In A Business In The UK In Order To Apply For A Tier 1 Entrepreneur Visa?
Yes you can. The name of the visa implies that there is an entrepreneurial pursuit. While the visa is very much aimed at those coming to the UK in order to start a business of their own, there is also the option to take over a business that already exists in the UK. This of course is also an entrepreneurial pursuit and that is why it is eligible under the terms of the Tier 1 Entrepreneur Visa. There are certain types of business that may not be well suited to this type of investment: clearly anything illegal is out of the question. You will also still be required to show a business plan for the business that you intend to take over.
Many may believe that by taking over an existing business, they will not need to show a business plan - this is not true. You will need to show that you are a genuine entrepreneur and to do this, a business plan is still by far the best way of doing so. If you get in touch, we can help to discuss your case to see what type of business plan is most suited to your particular type of application. Once we decide what type of business plan is required, we will then help to source a plan that is ideally suited to your intended situation.
Are There Any Type Of Businesses That Are Well Suited To Tier 1 Entrepreneur Visa Applicants?
The guidance can be somewhat patchy on the types of business that are suited to a Tier 1 Entrepreneur Visa application. Of course if there is any illegality then this will clearly not be suitable for the situation. The best type of business is going to be one that has a clear path to growth. This will need to be demonstrated to immigration officials whose job it is to determine how genuine the application is. A business with a strong record of growth and well presented accounts is certainly going to be easier to explain to an immigration official than one that has not. This is where a strong business plan really comes into its own. We can assist in the preparation of a business plan and ensure that it is presented ideally to make it easy to see the growth potential that can come from your investment.
The main issue with the process of applying for a Tier 1 Entrepreneur Visa is that immigration officials are not business people. With this in mind, you will need to ensure that your business plan and relevant documents display the business in an ideal light. Your business plan will also need to be able to be easily understood by an immigration official. The specificity of the business plan required for immigration means that you should work alongside an expert team in the creation of it. We can help to ensure that you get that help.
Is It Better To Start Your Own Business As A Tier 1 Entrepreneur Visa Applicant Or Take Over A Running Business?
The answer to this really depends on the individual situation. If you have a business idea of your own that is really solid and liable to grow then that may indeed be a better option. It all really depends on what you want. Many applicants do not have a business idea of their own but see the opportunity in a business that is already running - this is still entrepreneurial. Then for those that have an idea that may not stand up to much scrutiny, there is always the option of taking over an existing business. For these entrepreneurs, there is always the opportunity of launching their own business at a later date - this will be much easier to do if they are already based in the UK running a business.
The answer really is not simple as to whether you should start your own business or take over a running one. This is where our experts can help. We can give you advice from our knowledge and experience of immigration law. We can also help to put you in touch with business experts who can not only help you to decide on which direction you should take, they can also help with putting together business plans. Using a wide array of expertise can only help in this situation - and our team can help to ensure that you have access to all of the expertise that you could possibly need in order to make the right strategic decisions for your future.
Where Can I Get More Help?
If you need more help with a Tier 1 Entrepreneur Visa application then please get in touch. Our experienced team of immigration lawyers can help to ensure that you get the exact advice that you need in order to make not only a successful application but also to have success once you relocate to the UK. So get in touch today and let our team help you on the first step towards your future.
- Employees Furloughed For 12 Months, How This Will Affect A Tier 1 Entrepreneur Extension
- Extending a Tier 1 Entrepreneur Visa Where a Member of An Entrepreneurial Team Has Left and the Business Idea Has Changed
- Tier 1 Extension Entrepreneur Refusal - why, and what can be done?
- Why Did The UK Tier 1 Entrepreneur Visa Close?
- How To Be A Successful Entrepreneur In The UK