It is being said that increasing number of foreign investors are queuing up to apply for the Tier 1 Entrepreneur Visa of the UK to enter that country. Brexit notwithstanding, London still continues be attract International Investors in the last few months, as it is reportedly attracting more investment than any other city in Europe.
Many reports attribute this to London’s ability to receive more foreign investment than other biggest cities of Europe such as Paris or Berlin. As per immigration experts, many people wanting a piece of their pie in the Western European market are expressing keen interest in bagging the tier 1 entrepreneur visa.
Workpermit. com quotes sources as saying that International Investors want the global reach advantage that the British capital city provides. Recently, it was also announced that UK’s DIT (Department for International Trade) has approved several major seed funding schemes. This gives the DIT the ability to award funds to the business, which makes the Home Office ‘available’ for tier 1 visa applications.
Eligible for the tier 1 entrepreneur visas are foreign investors with funds of £50,000 or £200,000 to invest in a business in Britain. The funds can either be used to invest in existing businesses (alone or as a partner) or to set up a Business in the UK.
But funds need to be held by an institution that the FSA (Financial Services Authority) recognises, including a bank or venture capital company. It is necessary that funds are freely available and not linked to shares, securities or similar arrangements.
A points-based system is used to evaluate applications for tier 1 entrepreneur visas. As of now, 95 points are required to obtain a visa.
Individuals get 25 points if they have at their disposal a minimum of £200,000 of investment funds or have a minimum of £50,000 from one or more registered venture capital companies, one or more British entrepreneurial seed funding competitions or one or more UK government departments
Individuals having investment funds that are held in a regulated financial institution are also awarded 25 points.
If individuals have investment funds which they can freely spend, they too then are granted 25 points.
If people have at their disposal the required maintenance funds, they are awarded 10 points and so are those who have the required proficiency level in English.
The interest for UK’s Tier 1 Entrepreneur Visa is said to be increasing from countries across the world, as the UK nears the date to leave the European Union. It is said that South African entrepreneurs are evincing a lot of interest in these visas.
If you are looking to Migrate to the UK, get in touch with Y-Axis, a leader in immigration services, to apply for a visa.