I established a business as part of my Tier 1 entrepreneurship visa several years ago and got my visa. Now I am looking to exit the business. What are some safe exit strategies I can use to sell the business and keep my status in the U.K.?
Answers
To remain in the U.K., you will need to switch your visa category. Most entrepreneurs would switch to a Tier 2 general visa, which is the obvious visa route. If you are in a relationship with an EU or U.K. settled person, you could switch into this visa route. You could also switch into Tier 4 student route, but it may have issues later on when you try to settle in the U.K. Once you obtained a new U.K. visa, you are no longer obligated to run your business under the immigration rules, but until you can find a new visa route, which is approved by the Home Office, you have to be active in your business.