NOVOSTI April 2016 - Deal of the Month - RSL Law
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NOVOSTI April 2016 – Deal of the Month

DEAL OF THE MONTH APRIL 2016

DEAL OF THE MONTH

We have recently completed yet another relocation of a Russian-speaking family to the UK. For this family we used the Entrepreneur Visa route. The mother and an adult son of the family applied as an Entrepreneurial Team.

Entrepreneurial Team can consist of a maximum two people, who do not have to be relatives. Members of the Entrepreneurial Team do not have to apply at the same time or from the same place. For example, one member of the Entrepreneurial Team can switch into this immigration category without leaving the UK, and another can make a fresh application from his or her country of residence. The Entrepreneurs can share the investment fund of minimum of £200,000, required by the Immigration Rules.

In our case, both the mother and the son applied at the same time, together with two dependants. The Team shared the minimum investment fund of £200,000. If the investment funds are deposited in a bank account, which is in a sole name of one of the Entrepreneurs (or a third party), a Deed of Beneficial Ownership must be in place, to show that both Entrepreneurs have equal access and control over the funds.

Red Square London advised the family every step of the way, prepared a comprehensive business plan, and completed a pack of documents required by the Immigration Rules. Once the Entrepreneur Visas and Dependant Visas were successfully received, Red Square London proceeded with the registration of the family’s business in the form of a limited company. Both Entrepreneurs became directors of the company, as is required by the Visa rules. The family was interested in setting up a hospitality business, and their newly registered company became a purchaser of a hotel in a picturesque part of the country. Red Square London acted as Solicitors, representing the purchaser. Once the price and terms were negotiated and agreed, the business purchase agreement and other ancillary documents were executed and Red Square London completed the registrations required by English law. Our family is now settled in their new home, busy preparing for the new Spring/Summer Season.

 

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