How can a foreign national(non -EU) living and working in the UK start a business there? As in, what are the legal proceedings one has to go through?
UK Trade and Investment (UKTI) will probably give you some hints, while the Border Agency will give you the rules and regs, I reckon, DD15.
Is it true that I need to have £ 200,000 with me? Because that would require heavy saving for quite a long time plus all my savings till now.
I think that's simply to immigrate. I'm not sure what the rules and regs are for wanting to invest, but you'll probably need to have adequate savings to show that you can support yourself, put money into your business and create jobs without needing to resort to state assistance. How long have you been in the UK? If I recall correctly, there is a loophole for those who have been here long-term.
If you live here already and have the appropriate visa (ie you are not simply here on holiday) and have a National Insurance number then I do not see any problems with starting a business here. There is no monetary requirement to start a business - but if you are applying for certain visa types then this is a different matter Can you elaborate further on your status?
I have been working here in the UK for the past 3 years, and did an MBA in the UK before that. I was told that the only way a foreign national (who is not from EU either) can start a business here is with the Entrepreneur Visa and by investing a minimum of £200,000.
Did you take your last qualification in the UK? If so, you may qualify for an Entrepreneur Visa, provided you meet some other criteria. My advice would be to talk to the "Immigration Advisory Service" (Google them, I'm not allowed to post links yet). A consultation might cost you money initially, but it will probably save you a heap in the long run.
how is it possible to start business while a person is just been immigrate to other country??? I think One should must the green card first to start the business because without residential visa how can the local Government allow a person to start business in their country. And i don't think so that government looks upon the investment whether that'll be of £200,000 or £50,00,000. They can't took the risk of breaching their laws just for the sake of Investment.