Chapter 18 Annex 8 - Letter to enquirers about the business requirements

Dear

Thank you for your letter/enquiry about the procedure for entry into the United Kingdom to establish or join a business/to set up as a self employed person there.

The person concerned must first obtain a visa/entry certificate allowing him or her to enter the United Kingdom specifically in this category.

If you wish to apply for entry to establish or join a business, or to set up as a self-employed person, you should complete the enclosed application form and return it to this office together with the following information:

1. Evidence that you have not less than £200,000 of your own money under your control and disposable in the United Kingdom to be invested in the business;
2. the object of the business;
3. the number of full-time jobs your business will create for people already settled in the United Kingdom (please describe employee's likely pay, hours and duties);
4. the projected opening balance sheet following the start of the business. This should contain the following details:
   • The financial outlay;
   • Any loan to the company (this must be unsecured and fully subordinated to third party creditors);
   • Fixed and tangible assets;
   • Stock (describe the stock);
   • Number and value of paid-up shares.
5. Projected trading and profit/loss account;
6. Overhead expenses which should detail the following;
   • Establishment expenses;
   • Administration expenses (under this heading individual salaries of staff, including your own, should be given);
   • Other expenses and depreciation.

You may be asked to justify figures at iv), v) and vi) (e.g. with evidence of market research).

If you are joining or taking over an already established business, you must produce audited accounts for at least the previous 2 years and firm evidence that new, paid, full-time employment for persons already settled in the United Kingdom, will be created.

We have to refer the application to the Home Office in London for a decision. This may take some time depending on what enquiries they have to make.

If accepted for entry to the United Kingdom as a business person, an applicant will normally be given permission to stay in the United Kingdom for an initial period of 12 months.

At the end of the 12 month period, the applicant may apply to the Home Office for an extension of stay in the United Kingdom.

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