UK Investor Permit Or Entrepreneurs Permit—Which To Opt For?
As Europe is facing a rather tough time now-a—days, many prospective immigrants, for the time being, are looking for other options. They specially wish to ignore the countries facing economic crises, for obvious reasons. Though there are many options, the one country that seems promising among all is—well, you guessed it right–the UK.
Several people wish to make UK their second home and the reasons are well-known. However, at times, the debate is if the applicants should opt for UK Investor Permit or Entrepreneurs Permit.
As both these specific categories have their own specific set of advantages, and disadvantages, applicants should make a choice depending on their particular circumstances. On a hypothetical basis, it would not be an easy task to say which is the best option–UK Investor Permit or Entrepreneurs Permit.
But let’s have an in-depth discussion on the two to come to a conclusion
UK Investor Permit, officially known as Tier 1 Investor Visa–You are eligible to submit a petition for the same only if you are a non-native of Europe and Switzerland, and have a minimum net worth 2,000,000 British Pounds to invest in the country.
You must submit your petition three months in advance from the intended date of departure. Generally, the complete visa processing takes one month. In certain cases, it may take longer as well.
At the time of submitting the petition, the applicant must be of 18 years. To begin with, the visa is issued for a period of three years and four months. If required, the duration can be extended on request by an additional two years.
Following are the liberties to be enjoyed by the applicants:
- Invest 2,000,000 Pounds in official government bonds or share capital with UK registered companies and live freely anywhere across the country.
- Work or study in the nation.
- Present an application for the prized and the much sought after PR status if you have made an investment of $10 million or
- Put forward an application for PR if you have made an investment of $5 million
- Use public funds
- Take up a job as a sports coach or as a sports person
- Make an investment in the companies involved in property management, property investment or property development.
Entrepreneurs Permit, formally known as Tier 1 Entrepreneur Visa–To be eligible, either you must have $2,000,000 or $50,000 to invest in the nation. It is basically a point based category, and to be eligible, aspirants are required to score not less than 95 points, and they must be fluent in English. To prove the same, they are required to submit the English Language test score, such as the IELTS.
Initially, the applicants are issued a Temporary Resident Permit (TRP). The main reason the category has become rather popular among immigrants is that it provides an easy opportunity to invest in the country and bring along their family members.
- The other important fact that makes the category stand apart from other is that besides education and language fluency, there is no long list of must to meet eligibility criteria.
Now let’s have a look on the certain benefits enjoyed by the visa holder!
- Applicant can freely live and work in the country till the time his visa is valid.
- If you business is flourishing, you may apply for further extension.
- Once you have lived and worked in the nation for a period of five years, you may submit an application for Permanent Residence (PR).
For further in-depth benefits and visa processing, it’s best to consult the nearest UK immigration consultation at the earliest.
Frankly speaking, it is difficult to say which is better–UK Investor Permit or Entrepreneur Permit as both have their own specific set of advantages and disadvantages even as depending on the individual needs, the applicant must make a choice.