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Prospective Entrepreneur

Prospective entrepreneur

If you are a promising entrepreneur with the intention of accumulating funds in UK to set up, to join or takeover any business in UK, you can apply for a visa from this category. The visa enables prospective entrepreneurs to enter the UK for a maximum of 6 months so that they can secure funding to meet the financial criteria for a Tier 1 (Entrepreneur).

Eligibility criteria:

  • You must be a legal adult above 18 years of age
  • You must have enough funds to sponsor your stay and your journey back and forth
  • You must not be in transit to a country outside the UK, Ireland, Isle of Man and the Channel Islands

Working permissions

This visa enables you to do the following in order to set-up the business for which you obtain the visa:

  • attend meetings, symposiums, interviews or site visits
  • give visits to trade fairs only to conduct a promotion drive for your business and not to sell good to the public in any direct or indirect manner
  • arrange deals, trade agreements or contracts
  • be a speaker at a not-for-profit conference
  • examine products and buy them
  • recruit staff for running the business which is allowed by your visa

The applicant is prohibited from doing the following during his stay in UK:

  • extend his stay in UK or his visas
  • engage in any employment or trade activities
  • get public funds for his personal maintenance
  • join any educational institution
  • marry or register a civil partnership, or give notice of marriage or civil partnership
  • get private medical treatment
  • bring along dependants. They would have to apply separately.

Documents to be provided:

The documents to be furnished to avail this visa are:

  • a current passport or other valid travel identification
  • a passport size colour photograph
  • bank statements or payslips as a proof of minimum savings to support yourself
  • details of your stay and travel plans

Endorsement letter

You must produce a letter of endorsement dated no more than 3 months before your application as your business being considered for funding by any one of the following:

  • registered venture capitalist firms regulated by the Financial Conduct Authority
  • UK entrepreneurial seed-funding competitions endorsed by UK Trade and Investment
  • UK government departments

The letter must have the following details:

  • nature of the work of the organisation supporting your venture
  • description of the nature of your business
  • description of your attributes qualifying you to be involved in the business
  • confirmationthe support of the organisation in providing you with at least £50,000 funding within 6 months of your arrival in the UK, and that they can be contacted about you
  • confirmation that your business will be based completely in the UK
  • a contact name, phone number and email details