We’d already had several businesses. We wanted to grow a new business outside our home country, in the UK, because it suited our needs. However, it was important for us to be able to run the business ourselves. That meant moving to the UK to set up a company. Relocation to the UK was a challenge. Therefore, we are happy to have gotten in touch with Imperial & Legal.
Doing business in the UK is great because it is one of the world’s business hubs free of bureaucracy. You can also benefit from the UK taxation system. The UK Corporation Tax rate at 19% is the lowest in the G20.
The UK is ideal for businesspeople with innovative business ideas because it offers a favourable business environment. The British government does their bit in supporting entrepreneurship in the UK by simplifying the process of company registration. The highly competitive UK market and investors from all over the world make the UK the best place for entrepreneurs.
People get in touch with Imperial & Legal to apply for a UK Start-up visa or a UK Innovator visa. In this case, our clients were a couple of experienced entrepreneurs from the USA who wanted to grow their business in the UK.
Glein and Michael are a family from the USA. They are in their fifties, but full of energy. They are entrepreneurs, travel a lot and have experience in running different types of businesses. Now they are developing eco-friendly packaging. “Green”, “Eco”, and “Organic” are the three pillars of their business.
They like the UK climate and lifestyle. Besides, the British speak English. The couple wanted to open a business here and get access to the European markets. They’d already got patents from the USA that they wanted to bring to the UK market.
To draft a business plan, get an endorsement letter and apply for a UK Innovator visa.
Drafting a business plan is one of the fundamental requirements for a UK Innovator visa. Applicants must get an endorsement letter from an endorsing body, which evaluates a business plan for innovativeness, viability, and scalability. If a business idea meets these criteria, an endorsing body will send an endorsement letter to the Home Office.
Applicants for a UK Innovator visa must invest at least £50,000 in a UK business. However, UK immigration authorities can refuse a visa application if there is not enough evidence to prove the investment funds belong to the applicant.
Moreover, applicants must have enough money to support themselves without claiming social benefits. You should have at least £945 in your bank account for 90 consecutive days before you apply.
Imperial & Legal’s immigration advisors helped Glein and Michael draft a detailed business plan that met all the requirements. Our experts also made the couple aware that they had to stay in touch with the endorsing body. Entrepreneurs must submit a report to an endorsing body showcasing the development of their company after 6, 12 and 24 months. Glein and Michael thought that that was reasonable and were happy to submit reports.
In general, our clients met all the criteria for a UK Innovator visa. Once the business plan was ready and approved, Imperial & Legal’s immigration advisors prepared the necessary documents for Glein and Michael to apply for a UK Innovator visa.
Imperial & Legal’s advisors helped the family of entrepreneurs from the USA obtain UK Innovator visas quickly.
However, we continue our cooperation. Imperial & Legal has real estate agents who help our clients search for both private and commercial properties. When Glein and Michael relocated to the UK, they knew where they’d live and work. Our team found a small house for the young couple near London. They also found a commercial property and an office there.
Our specialists also registered a company and opened a bank account for them. Unfortunately, it is not easy for a foreigner to open a personal or business account in the UK, especially if they have moved to the UK only recently. Moreover, even those who can successfully pass due diligence checks are sometimes asked to provide evidence of the legal source of funds for big-sum transactions. These tough requirements are in line with the government policy aimed at fighting against financial fraud and money laundering.
Imperial & Legal’s experts have extensive expertise in working with the UK and European banks. We can help you prepare and submit the necessary documents, go through all checks and successfully open a bank account in a UK bank.
We registered Glein and Michael’s company for VAT, manage their bookkeeping provide them with full legal support and accounting services.
Glein and Michael are experienced entrepreneurs. We are sure that their business will be successful. They can apply for an indefinite leave to remain (ILR) three years after first entering the country on a UK Innovator visa.
We will work with you to find a customised solution for your immigration, second citizenship, business, tax and other needs.
Visa for entrepreneurs
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