This is the perfect visa status to have to set up a business in the UK, in the Science, Technology and E-commerce Industry. The government is keen to attract selective entrepreneurs who have business proposals that will encourage exceptional economic benefits for the UK.

Just read some of the interesting stories provided by the UK Trade Investment Authority at http://www.invest.uktradeinvest.gov.uk/entrepreneur/index.cfm

You may be considering this having understood more about it now that you have read the information provided by the UK Trade Investment Authority, here are some issues you should be made aware of.

Do’s and Don’ts

Do’s :

• You should try and apply for entry clearance from your country,
• You do not have to invest a set amount of money;
• A Third Party can help you set up the business, by giving you money towards the business;
• You must strongly demonstrate that your business will bring exceptional economic benefits to the UK;
• You must have entrepreneurial abilities, Technical skills and a good business plan;
• Your business must create at least 2 full time jobs (for UK resident workers only);
• You must hold 5% of the shares in the company, and the company must be registered in the UK;
• You must be able to financially support yourself without taking UK welfare benefit;
• The money you will use towards the business must be available or agreed in principle;
• You will be assessed on a point scoring system;
• The areas in which you will score points in are: Personal (includes work, business experience, prove Entrepreneurial abilities, Educational qualification Science or Technology, and Personal References); Business Plan (the your Business Plan is realistic, Plans for creating a management team); Business Plan: Economic Benefits (what skilled jobs you will create, how many jobs you will create, what new and creative proposals you can make, how much you will spend on research and development). Your Business Plan must be with supporting evidence that is of high standard, relevant to your application;
• Here are some examples of evidence you might need:-
  

• Registered accounts and trading records of own business.
• References from your previous employer.
• Academic certificates at or beyond your first degree.
• Academic references.
• Any of your research, publications, executive summary of your dissertation and so on.
• Intellectual Property Rights (IPR).
• Financial references, guarantees and forecasts.
• Technical references.
• Commercial references.
• Evidence of market research you carried out.
• A marketing plan.
• Evidence of the shares you will have in your proposed United Kingdom registered company.
• Make sure you have obtained proper legal advice, and support from organizations link UK Business Link, The Department of Trade & Industry, Certified Charted Accountants, Investment Banks, Insurance Companies, Find out what Government Grants exist;
• We are here to guide your needs and are happy to take instructions in this types of visas, call us now.

Don’ts :

• Rush into this type of application. You may lose the opportunity of setting up your business opportunity, because you rushed the application;
• Apply from the UK if you are a visitor, have a meeting with us before you leave the UK for a detailed understanding about how you can apply for it.