Queries

Can anyone please explain this amount of £50000 needed for startup.

@@The standard investment threshold for an entrepreneur to qualify for a Tier 1 visa will remain at £200,000, but the government will allow high-potential businesses to come to the UK with £50,000 in funding from a reputable organisation. And entrepreneurs will be allowed to enter the UK with their business partners as long as they have access to joint funds@@

Does it mean £50K will be enough to get the entrepreneur visa? and what are high potential businesses?

I am on PSW at the minute and this option seems better for further stay. I have a business plan as well and definitely will go for that business afterwards.

I will appreciate all replies.

Regards,

Read the statement of policy.

For £50k the funding cannot be from personal resources, it can only be from the following...Which is mearely impossible.!!



--An FSA registered Venture Capitalist firm;
--A UK Government Department; or
--An entrepreneurial seeding competition recognised by UK Trade and
Investment.

Thanks for your reply ricky_glore.

Does anybody know and will make clear some points.

1- How many maximum number of partners can be in this visa?

2- Will the visa be 2 years or 3 years?

3- Do we need to spend that 200k in this visa duration or even before that?

4- Is there any requirement for turnover or profit after 2/3 years visa?

5- How much money again will be needed at the end of first visa expiry for further extension?

I will much appreciate the replies.

Regards,

1- How many maximum number of partners can be in this visa?
Ans-2

2- Will the visa be 2 years or 3 years?
Ans- 3 Yrs

3- Do we need to spend that 200k in this visa duration or even before that?
Ans- Before start of 3rd Year

4- Is there any requirement for turnover or profit after 2/3 years visa?
Ans- No

5- How much money again will be needed at the end of first visa expiry for further extension?
Ans- No money on extension. Just Home Office Fees