For the entrepreneur looking to enter the UK to do business, the British government has opened up a visa path for doing so. This is called the Tier 1 entrepreneur visa. One of the most important aspects of a successful application is the tier 1 entrepreneur visa business plan.
Having a successful business plan could be the difference between wasting the application fee and getting into the UK to start a business. Immigration officials will need to be convinced of the business ability of the applicant and the business plan will form a central part of the process. With a large amount of inward migration and a government with harsh targets on the reduction of inward migration, there is a renewed effort to slow down migration through such schemes. This means that immigration officers will be very sensitive to applicants of schemes such as the tier 1 entrepreneur visa.
This visa programme allows entrepreneurs with at least £50,000 to invest into the UK in order to start a business or to take over an existing one for up to 3 years and 4 months. This can be extended conditionally.
£50,000 investment funds must be held in a regulated financial institution.
If the applicant is struggling to hit these somewhat stringent limits, then there is an option to join together with other entrepreneurs in order to form a team of entrepreneurs.
Once all the criteria have been met, the applicant will then need to go through the formal application process. The process must be started no sooner than 3 months before travelling, this leaves enough time for the process to be completed. The fee structure starts from £927 this will change depending on the country of origin and who will be travelling.
So what makes a good business plan for a tier 1 entrepreneur visa? It needs to prove that the applicant has a sound strategy for the development of a business. It also needs to show that the applicant has a working experience of the industry. It will need to show that the finances of the business make sense and that there is a clear gap in the market for the business.
The general advice is that the use of a qualified and experienced business plan writers with a background in the field of immigration can be extremely useful. They will have the knowledge and experience of creating a business plan that convinces immigration officials of the strength of the plan and shows the seriousness of the applicant.