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The face of South African emigration to the United Kingdom has changed over the past decade. Where previously South Africans made a conscious decision to move overseas on a permanent basis, the shift is now more towards mobility in a global village. South Africans are also in the fortunate position that they do not need to forfeit their South African citizenship if they wish to obtain a second nationality, and can hold dual citizenship if they follow certain processes. This enables them to comfortably move between the two countries, and do business in both, without any visa hassles.
Presently, there is a lot of uncertainty in the UK market, and nobody is sure what the effect of Brexit will have on business and job opportunities. It seems however at this stage that the departure of many EU nationals and businesses from the UK might result in opportunities for South Africans.
Earlier this year, Theresa May, prime minister of the United Kingdom, stressed the fact that the UK government consider businesses large and small as the backbone of the UK economy, and a reason why Britain will always be open for business. Fortunately, this bears good news for South Africans looking to expand their businesses to the UK.
There are a number of immigration options available to South Africans. Every route offers different advantages, and have different requirements that have to be met.
Sole Representative Visa
This UK business visa is currently one of the most popular immigration routes among South Africans wanting to establish a business presence in the UK. It allows the South African (or other overseas) company to send one key individual to the UK to establish a wholly owned subsidiary or UK branch for the overseas company.
The main reason for its popularity can probably be found in the fact that there is no need for the involvement of a UK employer or specific start-up capital to qualify under this immigration category.
In order to qualify as the Sole Representative of the company, the employee must be a senior employee and intend to be employed full time, with full authority to take operational decisions on behalf of the firm. The applicant may be a shareholder in the overseas firm, but not a majority shareholder.
Tier 1 Entrepreneur
The appeal of the UK Tier 1 Entrepreneur immigration category can be found in the fact that it provides a safe and sensible opportunity to invest monies in the United Kingdom in a business you set-up or that is already a going concern. Applicants in this category need to invest in the United Kingdom by setting up, or take over, and being actively involved in the running of one or more businesses in the UK.
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There are different eligibility requirements depending on whether you have access to investment funds of £50,000 or £200,000. It is also possible to form an entrepreneurial team with one other Tier 1 Entrepreneur applicant. The investment funds can thus be shared, subject to strict criteria. One has to be very careful not to invest in businesses that have not been properly vetted by oneself. We have noted that there are unscrupulous companies offering clients the option of investing into a business that they will ‘source’ – be very careful as this is often nothing but a money makings scheme for fraudsters.
Tier 1 Investor
This investor category is available to high net worth individuals making a substantial financial investment in the United Kingdom.
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To qualify, the applicant has to have money of his/her own, under his/her own control, held in a regulated financial institution and disposable in the UK, amounting to no less than £2 million. The applicant also needs to have opened an account with a UK regulated bank for the purposes of investing no less than £2 million in the UK, with a choice of various instruments that can be invested in.
Tier 1 Graduate Entrepreneur
An exciting immigration route available to South African graduates is the Tier 1 Graduate Entrepreneur route. If you are a recent graduate, who has a genuine and credible business idea, you can apply under this route. The applicant has to follow a process to get endorsed by the UK Department of International Trade (DIT) or by an authorised UK Higher Education Institution.
There is an annual limit of 2,000 places available in this category.
Most other UK immigration categories, not in the family or ancestral routes, require the involvement of a UK employer or sponsor. The above categories are thus very suitable for South Africans looking to expand their businesses overseas.
Easy transition
South Africans adapt very easily to the English culture and traditions, and this is also true for South African businesses which seem to find their financial feet relatively fast. The short travel distance between the two countries and the South African communities already settled in the UK are all added bonuses, that will continue to make the UK a popular destination in the global village.
- For more information on business visas to the UK, please visit www.bic-immigration.com or email [email protected].
