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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Immigration Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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Thanks for your response. Youve got me 50% of the way there.

Resolved Question:

Thanks for your response. You've got me 50% of the way there. In-terms of formation:
- Are there any financial (e.g. minimum net worth, minimum investment amount, etc.) or other requirements (e.g. nationality) I must meet to 'qualify' as an investor in a UK startup?
- Am I correct to assume that holding the title of 'Director' will not be considered 'employment'?
- As a 'Director', would I be entitled to a salary in addition to share distributions or does that cross the 'employment' threshold?
- What type(s) of company formation / What business entity type(s) will this work with (e.g. LLP, etc.)?

The other 50% I need answered is the visa question. I should have been more specific with the term 'partner'. The person I am going into business with is of no relation. She is just a business partner who happens to be a British national. I am joined in the UK by my wife and children (also American) who are dependents on my government orders, which end in September 2015. So I have a little more than one year to get the business profitable enough for me to quit my government job and pursue it full-time. If/when that time comes, what visa will I be eligible to pursue as a shareholder and Director of a UK company? Further, what requirements (e.g. minimum net worth, etc.) will I need to meet to obtain the visa?

Finally, if the business is registered in a similar manner but offshore in Jersey, what are my options for obtaining a UK visa to remain living in England?

Cheers,
Don
Submitted: 3 years ago.
Category: Immigration Law
Expert:  UKSolicitorJA replied 3 years ago.
Thank you.

There are no minimum capital requirements for establishing a business, the common way is by way of a limited company and you can form a company on the same day for less than a hundred pounds if you want.

Director is fine but drawing a salary would be employment and prohibited unless you are on a work visa.

I am afraid I do not deal with offshore matters and you would need to seek advice from a local lawyer there.

In terms of visa requirements, the tier 1 investor visa would be most appropriate for you and your family, but a minimum investment of £1 million is required, see here
https://www.gov.uk/tier-1-investor

Can I help further?
Customer: replied 3 years ago.

Hmmm. But I am not a millionaire. I would not qualify for an investor visa.


 


Could I leave the country and then have the company sponsor my visa... then draw a salary as the Director?

Expert:  UKSolicitorJA replied 3 years ago.
Yes, that is possible but such visas are subject to annual quotas and are very competitive. Your company would not be an established business or employer and I do not see it readily obtaining a sponsorship licence.

The other option is a Tier 1 Entrepreneur visa , see here

https://www.gov.uk/tier-1-entrepreneur

UKSolicitorJA, Solicitor
Category: Immigration Law
Satisfied Customers: 4312
Experience: English solicitor with over 12 years experience
UKSolicitorJA and other Immigration Law Specialists are ready to help you
Customer: replied 3 years ago.

How can I come back to the UK and work for the company I'm investing in under the entrepreneurs visa? The company will already be established.

Expert:  UKSolicitorJA replied 3 years ago.
You can use funds invested in a business that you’ve set up in the UK while under a different immigration category - the funds will need to have been invested no earlier than 12 months before your Tier 1 (Entrepreneur) application.

The above guidance appears here:
https://www.gov.uk/tier-1-entrepreneur/access-to-200000-investment-funds

Hope this helps

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