Innovator Visa
Tier 1 Business Plan
As part of the application, investors are required to provide a comprehensive and viable business plan. The success of the application is highly dependent on this business plan; therefore, it is essential to invest adequate time and resources to ensure that this plan communicates your proposal effectively. GGBA has extensive experience in preparing business plans for immigration purposes, and can help prepare a viable business plan that meets all of the UK Home Office requirements. Such a plan will need to demonstrate the following:
- The relevant experience and expertise you have in the sector you plan to invest in;
- How the investment funds will be utilized;
- Details of products or services offered, and pricing structure;
- A marketing plan, including an understanding of the UK market and competitor analysis;
- How the investment will create and sustain two jobs in the UK (so the visa can be extended after the initial period);
- Robust financial modelling projections, including cash flow forecasts, profit and loss statements and balance sheets;
- The role of the applicant within the business, and details of additional staffing needs;
- Information regarding necessary business licenses, and any professional services (accountant, lawyer etc.) need to run the business.
It is important to remember that these business plans will be read by UK Immigration officials, not business professionals, and therefore will need to be clear, concise and easily accessible in being able to demonstrate that your business proposal is viable, realistic and that you understand your obligations as a business owner and prospective employer.
Other Considerations
For entrepreneurs who are planning to move to the UK on a Tier 1 (Entrepreneur) Visa, the issue of tax is both important and confusing. As part of the Tier 1 (Entrepreneur) Visa application, you may be required during interview to demonstrate some level of understanding of both the UK tax system and UK employment law, particularly regarding your proposed investment and/or UK business activities. Fortunately, the UK taxation system, as administered by Her Majesty’s Revenue and Customs (HMRC), is relatively straightforward, and GGBA have access to experienced advisors who can assist with a whole range of taxation issues covering your personal, employment and business affairs.
London is one of the world’s financial hubs and has been so for centuries. Hundreds of corporations have therefore based their head offices in the British capital, making it a very favorable place to invest. The UK also benefits from:
- Highly skilled labor force
- Stable government, favorable tax rate and conducive regulatory framework for businesses
- Large economy with potential for growth
- Excellent transport links and infrastructure
What you can and cannot do
You can:
- bring your family members with you
- switch to this visa from some other visa categories
- work in another job, as well as working for your business
You cannot:
- get public funds (financial support for the government)
- work as a doctor or dentist in training
- work as a professional sportsperson or an actor for example a sports coach
- settle in the UK on this visa
How Can We Help?
In addition to helping you prepare a comprehensive business plan that will increase your chances of obtaining a Tier 1 (Entrepreneur) Visa, GGBA can offer additional guidance and support to help your UK business or investment thrive, including:
- Providing access to respected professional advisors who will work alongside your business;
- A range of corporate advisory services, including presentations for funding, due diligence, growth strategies, UK market advice, business development strategies, and assistance with statutory requirements, tax filings and other regulatory obligations;
- Access to international advisers to support immigration investment opportunities to the United States;
- Assistance with mergers, disposals and acquisitions;
- Visa extensions and ILR requirements;
- Economic analysis and feasibility studies.
