Most Indians prefer to migrate on a student visa, where they gain a root and then explore residency in the country. But if you wish to, you can enter this country as an entrepreneur. This is where the Tier 1 entrepreneur visa makes an entrance.
The Tier 1 Entrepreneur Visa category allows international business people with between £50,000 and £200,000 in funds available for investment to enter the UK in order to establish or take over a UK business – either exclusively or as a partner. The funds must be held by a regulated institution, such as a bank or venture capital firm, and must be free to spend – not tied up in securities, shares, or similar arrangements. Here are the various features of the visa, which we have described in 2 stages namely as a permanent resident and then as a UK citizen.
Stage 1: Permanent residency in the UK
- You will receive residence permits for you and your family within three months.
- You can apply for permanent residency within five years.
- Your children are entitled to free primary and secondary school education in the UK.
- After three years, you are entitled to the same level of university tuition fees available to UK nationals (from £4,000 a year, compared with the minimum of £15,000 for overseas students).
- As a legal resident of the UK, you and your family are entitled to free healthcare under the National Health Service (NHS).
- You will not be subject to UK immigration control.
If you leave the UK for two years or more during the scheme, your permanent residency will be revoked. You will not have freedom of movement throughout the European Economic Area (EEA) and will be subject to immigration control.
Stage 2: UK citizenship
- If you obtain permanent residency after three years, you may apply for UK citizenship after five years.
- If you obtain permanent residency after five years, you may apply for UK citizenship after six years.
- As a UK citizen, you are entitled to work, live and travel in the EEA (32 countries), as you will also be a citizen of the EEA.
- As a UK citizen, you can travel to over 100 countries throughout the world without an entry visa. These countries include:
- New Zealand
There are many formalities required for this visa. At Abhinav, we have a team of experienced Business Visa consultants which specialize with the visa. Feel free to write to us here to guide you with the formalities of this visa.