ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

TIER 1 ENTREPRENEUR VISA HELP PLS..

Only for UK Tier 1 (Entrepreneur) points system

Moderators: Casa, JAJ, ca.funke, Amber, Zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, geriatrix, John, ChetanOjha, archigabe, push

Locked
Engin1979
Newly Registered
Posts: 5
Joined: Sat Nov 19, 2016 5:42 pm

TIER 1 ENTREPRENEUR VISA HELP PLS..

Post by Engin1979 » Wed May 17, 2017 5:50 am

Hi guys
i hope my questions doesn't sound so silly.. i just want learn basics and
I need to understand general idea of this scheme so i know what to do... Can anyone here answer my questions? let me explain my backgraound shortly. I am a medical speacialist doctor. At the moment I don't live in uk but I want to start a 200k business in London. I will make application from my home country for this entrepreneur option.
my questions;
1- can I open a business even if I have no experience ? as I mentioned above I am a doctor but I wanna open a business in uk. but the business I want to open is not related to my education and I have no experience.
2- can I buy a business which is already operating or buy just half of it so i became partner and owner ?
3- can I buy a franchising business ? i open a brand store / shop for example a brand hair saloon franchising from usa.
4- Can I invest that 200k within 3 years and every year 70k on 1 shop so at the end of 3 years I make 210 k investment? or should I invest 200k in one time after a get the visa?
5- how long does it take to get decision from UK consulate whether my entrepreneur visa is approved or not? i will make application from abroad not within uk.
6- how many employees I should recruit? and is there any minimum turnover or profit requirement for the bussiness ?

thank you all in advance and kind regards..

User avatar
Zimba
Moderator
Posts: 13386
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: TIER 1 ENTREPRENEUR VISA HELP PLS..

Post by Zimba » Wed May 17, 2017 11:16 am

1- can I open a business even if I have no experience ? as I mentioned above I am a doctor but I wanna open a business in uk. but the business I want to open is not related to my education and I have no experience.
This is up to Home Office to decide based on the business plan you submit. If your attempts are seen as just a way to migrate to live in the UK, then probably your visa application will be rejected.
2- can I buy a business which is already operating or buy just half of it so i became partner and owner ?
3- can I buy a franchising business ? i open a brand store / shop for example a brand hair saloon franchising from usa.
You can but the money spent doing so will NOT count towards investment. You should invest 200K in a business you own.
4- Can I invest that 200k within 3 years and every year 70k on 1 shop so at the end of 3 years I make 210 k investment? or should I invest 200k in one time after a get the visa?
Investment can be done at anytime within 3 years.
5- how long does it take to get decision from UK consulate whether my entrepreneur visa is approved or not? i will make application from abroad not within uk.
No one can answer that. It could be from few weeks to several months.
Depends generally on your business plan and the embassy and all other factors.
6- how many employees I should recruit? and is there any minimum turnover or profit requirement for the bussiness ?
There is no turnover or profit requirements. You must create two full time positions each at least for 12 months.
You better start reading the official guide: https://www.gov.uk/government/publicati ... trepreneur
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

User avatar
marcnath
Moderator
Posts: 5974
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: TIER 1 ENTREPRENEUR VISA HELP PLS..

Post by marcnath » Wed May 17, 2017 11:41 am

zimba88 wrote:
1-
2- can I buy a business which is already operating or buy just half of it so i became partner and owner ?
3- can I buy a franchising business ? i open a brand store / shop for example a brand hair saloon franchising from usa.
You can but the money spent doing so will NOT count towards investment. You should invest 200K in a business you own.
To add to this, the money you PAY to the existing owner(s) would not be counted towards investment. That is, you cannot buy the business from another person(s) and have that amount counted in.
But, if the business issues new shares and you buy those shares so that the money is going INTO the business, then yes, you can count that as part of your investment

Locked
cron