Why the Sole Representative Visa may be the best option for you
Now with the Entrepreneur Visa no longer in existence and with the Innovator Visa having very specific requirements, it may be the case that the Sole Representative Visa is the best option for you.
If you are part of a business looking to expand its horizons within the UK, the Sole Representative Visa will suit you best. It is comparatively easier to obtain as well as having more benefits than other types of work-related visas.
These benefits include the fact that there are no specific financial resources in order to establish the new UK branch. This is largely due to the presumption that the parent company will provide the necessary funds to establish the business. Thus, with there being no actual specifically defined amount, there is a lot more freedom and no strict governmental limitations.
Of course, the financial requirements for the actual individual heading up this business branch is such that they must be self-reliant (i.e. cannot rely on public resources) as well as provide for any dependants which may be added to their application. Find out more about the eligibility requirements.
What you can and cannot do under the Sole Representative Visa
- Extend your visa multiple times.
- Bring your dependants with you.
- Work fulltime for your employer.
- Apply for Indefinite Leave to Remain after five years in the UK.
- Stay in the UK if you are no longer the sole representative of the business.
- Work for yourself or any other business.
- Use public funds.
- Switch to this visa.
How the Sole Representative Visa compares with the old Entrepreneur Visa?
The Sole Representative Visa has fewer constrictions when compared to the old Entrepreneur Visa. Mainly, this is seen with the fact that the Entrepreneur Visa required £50,000-£200,000 in investment funds in order to either start your own business or take over a UK one. A requirement stemming from this is that these funds must come from a regulated and government approved institution where they must be free (i.e. not tied down by shares or securities etc.). The Sole Representative Visa, however, does not specify the amount of funds needed to establish a UK branch of a business and so has more freedom in regards to how funds can be established and invested.
Another difference between the two visas is that the Entrepreneur Visa was only really eligible for those wishing to begin a business in the UK or take over a UK business, whereas the Sole Representative Visa is only eligible for a senior member of a business (based in a non-EEA country) who wish to head a branch, stemming from the parent business, in the UK.
How the Sole Representative Visa compares with the Innovator Visa?
The new Innovator Visa replaces the Entrepreneur Visa and many of the requirements are the same. The main differences between these two visas are mainly the funds invested into the new business. The Innovator Visa requires at least £50,000 in investment funds and the Entrepreneur Visa may require, at the minimum, £200,000. Also, the Innovator Visa does not require the Home Office to review your business plan, as was done in order to obtain the Entrepreneur Visa. The new Innovator Visa allows certain endorsing bodies to invest within your business who can provide guidance and mentorship.
The main differences, therefore, between the Sole Representative Visa and the Innovator Visa are that with the Innovator Visa, you must be starting a business within the UK, not continuing or branching out which is what the Sole Representative Visa requires. The Innovator Visa is more suited, therefore, to those who have some funds and are wishing to begin a business. Those under the Sole Representative Visa are still working for their parent company but in the UK, their main aim being to continue and develop the business in the UK.
How can NA Law Solicitors help?
We are a specialist immigration firm and therefore, can help and assist you with your application for the Sole Representative Visa.
We can provide an initial case assessment on how eligible you are to apply for the Sole Representative Visa and draft a list of documents that you will need to send alongside your application whilst working with you to ensure that this meets the format stipulated by the Home Office. We can also determine what else may be required so as to make your application stronger and, ultimately, successful.
If you think you may be eligible to apply for a Sole Representative Visa, then contact us today so we can help you succeed with your application.