Starting a business in the UK is a lucrative option for many budding entrepreneurs. To do so, you must get yourself a UK business visa. The official term for a UK Business visa is the Tier 1 Entrepreneur Visa.
There are a set of requirements that you must meet in order to be eligible for a UK business visa. The process for the same, along with the requirements, can be found in the information we have given out for all business visas, or Tier 1 Entrepreneur visas to the UK.
Out of all the requirements for the UK Business Visa, the Genuine Entrepreneur Test is arguably the most crucial. It plays 2 important roles: 1) Convince the British government that you will indeed add value to their economy with your business plan, and 2) give yourself the confidence in your business strategy.
Our lawyers at The Smart Move 2 UK understand the consequences of a business decision and are keen to provide our expertise to anyone who needs it. Today, let’s give you a brief overview of this crucial step in getting a UK Business visa and setting up a flourishing business in a Briton dynamic new market.
Test of Genuineness for Tier 1 Entrepreneur
The Home Office introduced the genuineness test to check potential misuse of the scheme and for the applicants to demonstrate that they have the ability and willingness to invest in and run a business in the UK.
The Genuine Entrepreneur Test for Tier 1 Entrepreneur Visa
The genuine UK tier 1 entrepreneur visa test has caused a lot of distress [even to genuine entrepreneurs] as to how much and what kind of information an applicant needs to provide to demonstrate their credibility as a genuine entrepreneur.
The Home Office guidance provides that the caseworkers can assess the genuineness of the applicants on the basis of the evidence that is provided and if they are unable to do so on the basis of the evidence submitted with the application then the case worker can ask the applicant to attend an interview.
In assessing whether the applicant is a genuine entrepreneur, the UKVI takes into consideration the following:
- the documentary evidence that has been submitted;
- the growth and credibility of the source of money;
- the growth and credibility of business plans and market research into the chosen business sector;
- previous academic and business experience of the applicant;
- immigration background and previous activity in the UK of the applicant
In order to effectively demonstrate genuineness the applicant:
- Must demonstrate that they have adequate funds to invest in the business.
- Will be able to work on the business full time in the UK and support themselves [and any dependents] without recourse to public funds.
- Demonstrate through documentary evidence the credibility of the source of money available to the applicant.
- Submit a credible business plan detailing the market research and demonstrate how the business will succeed.
- Show any work experience or credentials that demonstrate his or her entrepreneurial skill and knowledge of the sector.
It is important that the applicant puts great significance on the business plan to ensure it is comprehensive and well drafted as the interviewing officers may not be a business expert. It is in this regard that our attorneys can assist you.
We are trained in putting together business plans with the precise intent of making it clear for immigration purposes.
Our countless clients can testify to the fact that if UK Visas are your concern, be it a business visa or for pleasure (UK Tourist Visa), The SmartMove2UK – UK Tier 1 Entrepreneur expert can provide you with all the assistance and guidance you would need.