Any capital to be invested into the business should be deposited into any such bank account. Any documentary evidence of the business , including market research, advertising, invoices or purchase of assets should also be collated as proof of the business existence and trading activities. The business plan and details that the individual will be able to support him or herself until the business is profitable will need to be provided. Applications are not decided by British consular posts but are referred back to the Home Office for a decision. No fee is payable.
Applications normally take approximately four months to process.
The Business Cases Unit at the Home Office hopes to reduce this period significantly over the next 12 months and to speed up visa application decisions where these are referred to them from abroad. If the application is successful, the Hungarian national will be given an initial period of leave to remain in the United Kingdom for 12 months. Those granted a visa will also be given leave to enter the United Kingdom for the same period. In that period, they are specifically excluded from taking employment in the United Kingdom and from claiming social security benefits. Shortly before the end of the 12 months, and on provision of information which shows that the business is viable and supporting the individual in the United Kingdom, the Home Office will grant a further three years leave to remain.