Entrepreneurs, Are You Looking to Find Your Opportunity?

Not every opportunity is your opportunity! This is important to accept because once you become opportunity prone, it becomes easy to keep finding them.

As a skilled opportunity seeker, one learns to search for fundamental changes and resultant needs and challenges that it throws open. Change being so fundamental keeps taking place constantly thereby giving rise to opportunities.

While one person utilizes the opportunity and creates a flourishing enterprise, thousands of others fail miserably while trying to tap into the same opportunity.

This leads me to believe that much before business modelling or planning, it is important for an entrepreneur to find opportunities that connect both personally and professionally.

The Tier 1 (Entrepreneur) Visa is for those wishing to immigrate to the UK and use their expertise to start, take-over or join one or more businesses based in the UK.

One of the more confusing aspects of applying for a Tier 1 (Entrepreneur) visa is understanding the funding requirements. Depending on the migrants particular circumstances there are different options.

Three main options for raising the required funds

If you are looking to move to the UK on the UK Entrepreneur visa, you have three choices for raising the required funds:

Cash savings
Venture capital or UK Entrepreneurial seed funding competitions endorsed by the UK Trade and Investment

Money from one or more UK Government Departments or devolved Government Departments in Scotland, Wales or Northern Ireland

Cash: Family and Friends
You will need to have available �200,000 in cash savings. This can be raised by yourself or with the help of third parties. To prove that you have access to this money, you will need a letter from the institution holding the funds to confirm the money is available to you. The letter must:

Be an original
Be written on the organisation's official stationary/letterhead
Have been issued by an authorised official of that institution
Be under 3 months old
Confirm that the institution is regulated by an appropriate body
State your name
State your account number
Be dated
Confirm that the money is available

If the money is not in a Financial Conduct Authority or Prudential Regulation Authority fund (basically, a British financial institution), the letter must state that the funds can be transferred to the UK.

You will only need to raise �50,000 if you're raising the required funds for your Tier 1 (Entrepreneur) visa through any of these sources. To prove that you have access to these funds you will need to produce a recent letter from an accountant engaged by the venture capital firm who is a member of a recognised UK supervisory body confirming the amount of money has been granted to you or to the business which you are a director of, and so funds for which you have access to.

UK Government Departments

You will only need to raise �50,000 if you're raising the required funds for your UK Entrepreneur visa. To prove that you have access to these funds you will need to produce a recent letter from an authorised official from a UK government department confirming the amount of money has been granted to you for carrying your business activities.

62 Tong Street

Bradford, West Yorkshire

BD4 9LX

01274 965 015

Call us today to book a free consultation

http://www.tier1-entrepreneurvisaguidance.co.uk


 By Muhammad Shan


Article Source: Entrepreneurs, Are You Looking to Find Your Opportunity?