UK also known as Great Britain is a developed country. It is one of the best places to live and work. It is the largest country in the British Isles. As a sovereign country, UK formalises its own rules and regulations which helps in the protection of interest of its people. Diversity and equality is the unique feature of UK. People from other countries have migrated to UK and made it a safer place to live where everyone is treated equally. It is a great power, with considerable economic, cultural, military, scientific and political influence internationally.
The economy of UK is highly developed. It is the sixth-largest national economy in the world by nominal GDP. UK government has formularised many liberal policies which helps its economy to grow at a faster rate.
Immigrating to UK is very beneficial for anyone who wants to lead a quality life. UK is a country with many opportunities. Its liberal environment gives an opportunity to foreign nationals to work or to open a business without many restrictions. The education system of the country is also very strong and of high quality, even many countries follow the UK education system. Moreover, UK has devised various policies for the people living in it like Flexible taxation system, free healthcare and treatment etc. The British citizenship gives an individual the advantage to travel and work anywhere in the European Union without any special work permits or travel permits which makes it very attractive for the immigrants.
The UK Tier 1 investor visa has been developed to attract individuals with high net worth to invest £2,000,000 in the UK. This visa is only allowed to the individuals from outside the European Economic Area and Switzerland. In order to meet the requirement, one must prove that the funds being used for investment are self owned, which means that the money belongs to either the Principal Or his/ her spouse. Further, one must open a bank account at a UK regulated bank to use these funds and these funds should be used solely towards funds making investment into an active and trading UK registered companies either in the form of share capital or loan capital.
One can apply for this visa along with family members which includes Spouse and dependent children who are under 18 years of age. The investor visa allows an individual to stay in UK up to three years and four months. An individual can apply for the extension of two years before investor visa expires.
UK innovator visa allows experienced businessmen who are from outside the European Economic Area and Switzerland, to set up a business in UK. This visa allows an entrepreneur to develop a business idea which is innovative and which must be endorsed by an approved body in UK. In addition to the innovation, one has to make minimum investment of £50,000 into the business and must show the necessary skills and knowledge to run the business. An individual must show enough personal funds to support himself and his family in UK. Moreover, one must meet the minimum English language requirement in order to be eligible for this visa.
One can apply for this visa along with family members which includes Spouse and dependent children who are under 18 years of age. The innovator visa allows an individual to stay in UK up to three years. An individual can apply for an extension for another three years when innovator visa is due to expire.
Start up visa is a new addition to the investor visa category replacing Tier 1 Graduate Entrepreneur visa. This visa class allows an early stage entrepreneur who is from outside the European Economic Area and Switzerland, to set up a business in UK. The business must be endorsed by an authorized body that is either a UK higher education institution or a business organization with a history of supporting UK entrepreneurs. However, along with innovative idea, one must meet the language requirement and must show the appropriate amount of maintenance funds to survive in UK.
Unlike Innovator visa, an individual does not need to invest funds initially. However, one must not have previously set up a business in the UK.
One can apply for this visa along with family members which includes Spouse and dependent children who are under 18 years of age. The startup visa allows an individual to stay in the UK for two years. But, there is no option to apply for an extension after two years. However, one can switch to the Innovator Visa to extend the stay in the UK and develop the business.