I am looking at starting my own business in the U.K. My parents will be helping me with the £200,000 or £50,000 (third party funding), i was wondering if it has to be actually invested in another company or can I just have the money in my account?
Areas of Expertise:
Thank you for your question. The rules of the Tier 1 Entrepreneur Visa state that the money should usually be invested in the business. Passing the Genuine Entrepreneur Test is difficult and it is likely you will need legal advice, especially given the amount of capital involved. Someone from our office will be in touch with you shortly to discuss how we can assist you.
Please note, this answer cannot be taken as a legal advice until we have your full instructions. The answer provided above is for information purposes only, if you would like to proceed to full legal advice and consultation with our immigration solicitors, please let us know your availability for an appointment by contact us on 0207 936 9960 or through our Contact Form.
I look forward to hearing back from you soon.
Posted on Saturday, 08 April, 2017