2016 16 JAN
Likely Questions for the Tier 1 Entrepreneur Migrant.
Since 2011 to 2013 September there have been 890 applications submitted under Tier 1 Migrant Entrepreneur Category and only 270 applications have been approved and 620 application have been refused. Before you start reading the questions below, please note that these are the Likely questions you will be asked, however the questions will always change according to your personal circumstances.
Questions Pertaining to your CV
1. Looking at your CV, can you explain how your previous experience will help you with your business venture in the UK?
2. How is your educational background linked to the business you intend to do?
3. If your experience or degree is not linked to your business, what transferrable skills will you employ in your business venture?
4. Why do you only want to do this business?
5. Why you want to do business in UK?
6. Who completed your application form?
7. Are there any team members in your business plan?
8. How and why did you become a team?
9. What will be the role for each team member in the business you intend to do?
10. How will each team member contribute to the business?
Business Plan
You must Study the business plan in depth as you are expected to have clear understanding of the business.
1. Who wrote the Business Plan for you?
2. What is your business plan? (please explain the business)
3. What sort of Insurance and how much coverage do you require for your business in the UK?
4. As you are providing services to the public, have you already gained your employers liability insurance or necessary certificates to operate business in the UK?
5. What is the minimum wage in the UK? (if hiring staff)
6. What kind of premises would you acquire or let and what will be the dimensions?
7. Would you mortgage, Lease, freehold or Rent it and what will be the estimated rental cost of your business premises in the UK?
8. How many employees do you intend to recruit at the start of business and what annual salaries and wages do you intend to pay them?
9. What is your marketing strategy and what means of marketing you will use for your business in the UK?
10. What are your future plans for business?
11. Have you registered your business with the appropriate UK bodies? If so, who? If not then what are the procedures to obtain the necessary registrations to operate the business? You will need to prove that you have carried out market research, competitors and financial projections which have given you the confidence that your business venture will be a success.
12. In your business plan, how will profits change from year 1 to year 2 and why, please explain?
13. How much profit are you likely to achieve per sale?
14. How many competitors to your company are there in the UK?
15. What market research have you undertaken in relation to the area in which your business will be located?
16. What part of UK do you intend to establish this business and why specifically this area why not somewhere else?
17. How will you cover unexpected additional running cost for your business?
18. Would you then sell its shares to public and for how much?
19. How confident are you that the business will generate profits in first year? (Always read your business plan thoroughly)
20. What advantage or edge would you have over them and where do you see yourself or your Business in three years?
21. There is serious competition in the specified business area, there are people doing business brilliantly. What makes you think you will survive or thrive in your business?
22. Staff recruitment – what job titles will your staff have and what will their roles be?
23. Financial projection – what contingency plan do you have if your business is not as successful as planned?
Finance
You will need to prove that you have the required finances to operate your proposed business and to maintain yourself (and family) while in the UK.
1. How much money did you save from your salary at your previous employer?
2. Who is funding your business and what was the basis of the arrangement?
3. What if the third party want their money back?
4. On what basis are you demonstrating access to the required funds of £200000 or £50000?
5. Is the money held in a bank account in the UK or overseas?
6. How you will invest? (Do you have an Investment structure).
7. There are figures I can’t understand, how have you come up with these figures?
8. Why the money is held overseas and how will you transfer it to the United Kingdom?
9. Has a percentage or the whole amount of funds from overseas been transferred into the UK?
10. Since the date of the application, have you invested any of the £200,000.00 into the business? If not, are the funds still available to you?
Immigration history
You will need to discuss your immigration history.
1. Why did you stay in the UK in previous years? How many times have you visited the UK and for what reasons?
2. Did you ever contemplate extending your existing visa?
3. What have you done since you moved away from the UK?
4. What was the last time you travelled to UK?
5. What was the purpose of stay?
6. Do you have any relatives in the UK?
7. Who helped you put in the application?
8. Can you give me a brief history of your immigration status in the UK?
9. What are your long-term aims of remaining in the UK?
10. Do you intend to apply for settlement or do you plan on returning to your country of origin/?
In relation to advise with best answers to the above questions contact an adviser at Visa and Migration Ltd
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