BUSINESS INVESTOR, INNOVATORS, SELF EMPLOYED
& RETIRED PERSON OF INDEPENDENT MEANS

BUSINESSMEN AND SELF-EMPLOYED PERSONS

Visitors to the United Kingdom are free to transact business during their stay. If you are a visa national you will need to obtain a visa in order to visit the United Kingdom. If you are not a visa national, you do not need a visa to come to the UK for a short business visit in order to attend meetings and briefings, fact find, negotiate or make contacts with UK business or to buy or sell services.

If you want to come to the United Kingdom permanently to set yourself up in business or self-employment (or to join as a partner, or take over, an existing business) you must have a visa.

The most important requirements are:

(a) you must bring at least £200,000 of your own money, not held by a trust or another investment vehicle, to invest in the business;

(b) your investment must create new, paid, full-time employment for at least two people, who are already settled in the United  Kingdom;

(c) you must show that you will be occupied full-time in running the business, that there is a genuine need for your services and investment and that you will have a controlling/equal interest in the business and the level of financial investment will be proportional to the interest in the business.

You will need to show the visa officer documentary evidence that you qualify for a visa. The visa officer can give you a further guidance letter, entitled 'Business Application', setting out the evidence and information you must produce in order for your application to be decided. In addition to this, it would be helpful if you could provide full details of any experience you have had relevant to your proposed business activities, and, if available, letters from United Kingdom firms with which you have done business or hope to do business in the future.

Whatever your business proposition, it will be given careful consideration. If you are not sure whether your proposals are acceptable under the Rules the visa officer will be able to advise you.

As a business or self-employed person you will not be allowed to take any other employment in the United Kingdom except running your business. You should advise the visa officer if you intend to retain business interests abroad.

If you are a national of Hungary, Bulgaria, the Czech Republic, Romania, Slovakia or Poland you must meet the requirements under the provisions of EC Association Agreements. You should obtain further advice from the nearest British mission offering a visa service.

INVESTORS

If you wish to come to the United Kingdom as an investor you must have a visa for this purpose.

You will need to produce documentary evidence (e.g. in the form of a statement from your accountant) that you have your own money, under your control and which is disposable in the UK amounting to no less than £1 million. If you own property in the UK you should show evidence of it to the visa officer. You will also need to show that you intend to invest not less than £750,000 of your capital in the UK by way of UK Government bonds, share capital or loan capital in active and trading UK registered companies (other than those principally engaged in property investment and excluding investment by you by way of deposits with a bank, building society or other enterprise whose normal course of business includes the acceptance of deposits).

You must intend to make the UK your main home and be able to maintain and accommodate yourself and any dependants without taking employment (other than self-employment or business) or recourse to public funds.

The Invest in Britain Bureau, which operates through the commercial sections of British Embassies, High Commissions and Consulates-General, can assist firms with all aspects of locating or relocating a business in the United Kingdom or expanding existing facilities.

RETIRED PERSONS OF INDEPENDENT MEANS

If you wish to come to the United Kingdom as a retired person of independent means you must have a visa.

You must be at least 60 years of age.

You will need to show that you have an annual income of not less than £25,000. This money must be under your control and you must be able to transfer it freely to the United Kingdom. Evidence should be in the form of bank statements or statements of income received from investments. If you own property in the United Kingdom you should show evidence of it to the entry clearance officer. You should also forward a letter from your bank or other authority confirming that there are no regulations which would prevent you from transferring your money to the United Kingdom. If you are in doubt about the acceptability of your evidence the visa officer will be able to advise you.

You must also satisfy the visa officer that you are able and willing to maintain and accommodate yourself and any dependants indefinitely in the United Kingdom without working, without assistance from anyone else and without recourse to public funds.
The phrase 'without working' means without working in the United Kingdom or abroad, and usually includes business interests or activities but not investment income. If you are not sure on this point the visa officer will advise you.

In addition to the financial requirements you will also need to show that you have a close connection with the United Kingdom.
You will be expected to provide supporting documentary evidence and intend to make the UK your main home. If you have close relatives settled in the United Kingdom, if you have lived there at any time, if you have long service with a British company or if you have long-established business contacts in the United Kingdom you may meet the close connection requirement. You should describe your circumstances in detail and forward any letters of support you may have.

Innovators

The pilot scheme for Innovators (entrepreneurs who come to the United Kingdom) to set up businesses which will bring exceptional economic benefit to the country.

What is the pilot scheme for innovators?

On 25 July 2000, the United Kingdom Government announced a pilot scheme aimed at entrepreneurs with new and creative ideas who want to set up a business in the United Kingdom. The pilot scheme will run for two years from 4 September 2000 until 4 September 2002.
This is a new category that we have designed to attract and select entrepreneurs whose business proposals will lead to exceptional economic benefits to the United Kingdom. It is open to people who have plans to set up businesses, especially in the areas of science and technology, including e-commerce.

How is it different from other business categories? The innovator category is different from other business categories because: • you do not need to invest a set amount. • someone else can give you money to set up your business (you do not have to invest your personal money); and • we will assess whether your application will bring exceptional economic benefits to the United Kingdom. How will my application be assessed? First, your application must show that you meet four minimum requirements. • Your proposed business must create two full-time jobs for people who are settled in the United Kingdom. (These can be made up from a number of part-time jobs.) • You must have, in your name, at least 5% of the shares in your company. The company must be registered in the United Kingdom. • You must be able to support and accommodate yourself and any dependants without having to do other work or get help from public funds until your business gives you an income. • You must have enough money available (or agreed in principle) to finance your business for the first six months after you arrive in the United Kingdom. DEPENDANTS The spouse and children under 18 of someone who is admitted to the United Kingdom as a businessman or self-employed person, or as an investor or as a retired person of independent means, may be admitted to the United Kingdom with them if they have a visa for this purpose. They will have to show that there will be adequate accommodation in the United Kingdom for them, and that they will be adequately maintained, without recourse to public funds and, for dependants of retired persons of independent without working.