WHY THE UNITED KINGDOM?
There are several reasons why you should consider the UK for setting up a business, and also ultimately getting its residency. The top reasons are ease of establishing and running a business in the UK and being second place in the world for least barriers to entrepreneurship. Moreover the UK is renowned as being one of the most productive places for innovation.
The UK has a multicultural society, and a free healthcare system. Your children will have access to the best universities as the UK is also home to the top universities of the world.
HOW TO OBTAIN RESIDENCE OF UK?
There are several ways where an individual can obtain a UK residence permit, however, Advent’s vision here is to highlight two quickest options for your mobility and relocation to the UK. These options are more suited to individuals willing to move to the UK as an individual and/or with family to start/operate a business.
- This category is for early-stage, yet high potential, entrepreneurs who intend to start a business in the UK.
- Applicants may have already begun setting up their businesses, but it must not yet have started trading.
- Applicants do not need any funds to invest in their business at this stage.
- It is a one-off, 2-year visa, during which applicants will develop their businesses.
- Applicants can take on other work outside of their businesses to support themselves.
- At the end of 2 years, you can switch into the Innovator category (see below) to extend their stay and develop their businesses in the UK.
- This category is for more experienced businesspeople seeking to establish a business in the UK.
- Applicants will need a minimum of £50,000 funding to invest in their business
- Applicants may not take on other employment outside their business.
- Successful individuals are granted residence for 3 years
- After 3 years, Innovators can apply to extend their stay for a further 3 years or to settle permanently in the UK as they are eligible to apply for settlement i.e. “Indefinite leave to remain”.
- You can start a number of businesses and work for yourself which includes acting as self employed, on a business partnership, or working as a director.
Investors fulfilling the below criteria should apply for the UK Residence:
- Willing to move and establish/run a business in the UK.
- You’re not from the European Economic Area (EEA) and Switzerland.
- Fulfill all the requirements to be eligible for this visa.
- Your business or business idea has been endorsed by an approved body.
WHO IS ELIGIBLE?
You can bring your family members with you including your partner, kids under 18, and also kids over 18 if they are already in the UK.
HOW DO YOU QUALIFY?
- Your business idea must be assessed and endorsed by an approved body.
- You should pass an approved English language test, gaining at least CEFR level B2 in reading, writing, speaking, and listening.
- You should be at least 18 year of age.
- You need to prove that you have adequate resources to support yourself during your stay in the UK. These funds can not be taken from your investment funds or money earned in the UK while working illegally.
- You should have £50,000 of funds available to invest in the UK