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£50000 or £200000 for Uk immigration Entrepreneur visa?
hi
i have read the guidance notes from UKBA for Entrepreneur visa but one thing is not clear to me, if anyone can help!! i have clear business plan and my uncle who is living in uk will be my partner in that business.
Do i need £50000 to show/in bank account to qualify for the application or £200000?
i have £50000 which i can use for my business and also have extra money to support myself and my depandants in UK.
The guidance notes say that it requires £200000 of your money or £50000 if it is from joint venture capital firm/banks etc... What does that mean????
how can we get £50000 from these companies?? would i be able to return £50000 to these companies immediately as i have £50000 in my account and i do not want to take the loan due to high interest.
i hope you will understand my question.
thanks for reading and your answer.
You need £200,000 personal funds available to you OR £50,000 from a financial institution. The logic is that if an investment organisation or venture capital firm is prepared to invest £50,000 to start up a business, your business case has been judged to be viable. These are not traditional loans.
Generally, the terms of these investments means that the investment partner retains an interest in the company and takes a % of profits in return for start up or development capital. You would not be able to get your visa, start up the business and pay back the loan. That way you would be doing your investment partner out of potential profits if the business is a success.
Think of it as a Dragon's Den type of investment rather than a simple business loan from a bank where you would only be required to pay interest on the loan, eventually paying back the capital from profits.
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