The Ankara Agreement UK Guidance: What You Need to Know
If you`re a Turkish national looking to start a business in the UK, you may have heard of the Ankara Agreement. This is a treaty between Turkey and the European Union that allows Turkish entrepreneurs to establish a business in the UK and eventually obtain settlement rights. In this article, we`ll talk about the Ankara Agreement UK guidance and what you need to know if you want to take advantage of this opportunity.
What is the Ankara Agreement?
The Ankara Agreement, also known as the Association Agreement, was signed in 1963 between Turkey and the European Economic Community (EEC), the precursor to the European Union. The agreement aimed to establish closer economic and political relations between Turkey and the EEC. It granted Turkey access to the EU market, and in return, Turkey agreed to adopt and apply EU laws and regulations.
One of the provisions of the Ankara Agreement is the establishment of a customs union between Turkey and the EU. This means that Turkey can trade with the EU without customs duties, and EU member states can export goods to Turkey without facing tariffs. The agreement also provides for the free movement of workers between Turkey and the EU.
How does the Ankara Agreement apply to Turkish entrepreneurs in the UK?
The Ankara Agreement allows Turkish nationals to establish a business in the UK under the same conditions as EU nationals. This means that they don`t need a visa to enter the country, and they can live and work here legally. To qualify for this, they need to obtain an Ankara Agreement businessperson visa.
To be eligible, you must be a Turkish national and either:
– Have a business plan endorsed by a UK Entrepreneurship Network (UKEN) member or a business angel group
– Be the sole representative of a Turkish company planning to set up a branch or subsidiary in the UK
– Have been running a business in the UK as a Turkish national on a visa issued under the Ankara Agreement for at least one year
Once you have obtained the visa, you can stay in the UK for up to 12 months to establish your business. After that, you can apply for an extension for another three years and eventually for settlement (also known as indefinite leave to remain) after five years of residence.
What are the benefits of the Ankara Agreement for Turkish entrepreneurs?
The Ankara Agreement provides Turkish entrepreneurs with several advantages, including:
– A more straightforward and faster process to obtain a visa compared to other types of visas
– The ability to work and live in the UK legally
– The possibility to bring their family members with them
– Access to the EU market without facing tariffs or customs duties
This makes the Ankara Agreement an attractive option for Turkish nationals looking to expand their business to the UK and the EU.
What are the requirements to maintain your Ankara Agreement visa?
To maintain your Ankara Agreement businessperson visa, you need to comply with certain conditions, including:
– Invest in the UK: You must invest in your business and create employment opportunities for UK residents. The minimum investment required is £50,000.
– Run your business: You must run your business actively and directly. You cannot work for another company or be self-employed in another field.
– Keep records: You must keep records of your business activity, such as invoices, receipts, and bank statements.
– Comply with UK laws: You must comply with UK laws and regulations, including tax and employment laws.
– Renew your visa: You must renew your visa when it expires and meet the eligibility requirements.
Conclusion
The Ankara Agreement UK guidance provides Turkish nationals with a unique opportunity to establish a business in the UK and obtain settlement rights. If you`re a Turkish entrepreneur looking to expand your business to the UK and the EU, you should consider this option. However, it`s essential to understand the requirements and conditions to maintain your Ankara Agreement visa and comply with UK laws and regulations. By doing so, you can enjoy the benefits of the Ankara Agreement and contribute to the UK economy.