Tier 1 Entrepreneur Visa & Franchising in the UK
Setting up an establishment or assuming control over a current establishment in the United Kingdom is an appealing alternative for high total assets people from non-EEA national nations. The Tier 1 Entrepreneur visa permits non-EEA nationals to enter the United Kingdom to run an establishment.
Not at all like the Tier 1 Investor visa, it doesn’t require a noteworthy starting venture. Candidates are required to demonstrate that they have £200,000 prepared to put resources into their business venture.
What is the Tier 1 Entrepreneur visa?
The Home Office introduced the Tier 1 Entrepreneur visa for high net worth Individuals who have strong business interests and are searching for new business ventures.
The Tier 1 Entrepreneur visa allows non-EEA nationals to set up or take over an existing business in the United Kingdom. The key attraction for this visa is that unlike the Tier 1 Investor visa it does not require a significant initial investment.
The Tier 1 Entrepreneur visa also has attractive settlement routes leading to British citizenship. For many business people acquiring British citizenship is the ultimate goal. Using a Tier 1 Entrepreneur visa to set up a Franchise in the United Kingdom In a business context, a franchise is a business which allows individuals to buy the right to their logo, name and business model for a specific period of time.
Franchises are extremely common and are often considered to be of low risk. The main benefit of starting a franchise is that you will have ample support and guidance from the head office of the business in question.
Another point to consider is that you will be investing into a popular brand with good standing. A franchise is the perfect business venture for entrepreneurs looking to set up a business presence in the United Kingdom.
Applicants who wish to set up or take over an existing franchise must meet the same visa requirements as all other applicants. However, Applicants may find it easier to show that the viability and credibility of the business.
What are the requirements for a Tier 1 Entrepreneur visa?
The Tier 1 Entrepreneur Visa is a point based system visa application and Applicants who wish to apply must acquire 95 points under appendix A, B and C of the Immigration Rules.
The applicable law is Paragraph 245D of the Immigration Rules. To summarise Applicants will be awarded points for the following:
- 75 points for meeting the Attributes requirement;
- 10 points for meeting the Maintenance requirement;
- 10 points for meeting the English language requirement.
To further elaborate on the requirements Applicants must show genuine intention to establish or take over an existing business in the United Kingdom.
The business in question could be a franchise in the United Kingdom. It is crucial the financial aspect of this visa application is also met. Applicants are required to show that they have a minimum of £200,000 readily and available to invest. The funds must have been held in the Applicants bank account for a consecutive 90 day period and must be held in a regulated financial institution.
Applicants must also demonstrate that they meet the English Language requirement and are able to maintain and accommodate themselves in the UK. It is also important for Applicants to satisfy the Genuine Entrepreneur Test. It ought to be noticed that regardless of whether you have procured 95 points in your Tier 1 Entrepreneur visa application can in any case be rejected on the grounds of validity.
In this manner, it is vital a solid arranged application is submitting demonstrating that your business model is suitable and valid.
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