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Everything you need to know about citizenship and residence programs around the globe.
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Start-up visa to the UK replaced a Tier 1 Graduate Entrepreneur visa that for long had been an excellent opportunity to relocate to Great Britain for young businessmen with ambitious ideas.
In this article, we will talk about who can apply for a Start-up visa, which requirements they must comply with, which criteria a new business must meet, and other relevant matters related to this visa category.
The main thing is an access to a huge and constantly growing UK market that is regulated by corporate laws that are clear even to new entrants. The government supports start-ups and offers them tax benefits as well as simple banking options.
You can apply for a Start-up visa if you:
You can also switch to a Start-up visa from other categories such Graduate Entrepreneur and a visitor visa for prospective entrepreneurs.
Before you can submit your application, you must get an endorsement for your business, or business idea, from one of the approved organisations. The list of government approved endorsing bodies includes higher educational establishments and corporate bodies that strive to support UK entrepreneurs.
If your business meets three criteria below, an endorsing body will issue you an endorsement letter. If you have a partner or partners, they must each obtain an endorsement letter.
Other requirements to Start-up visa applicants:
For an endorsing body to issue a letter of support, they must evaluate your idea against three criteria:
All endorsing bodies value their image and reputation so they must be sure that you will spend most of your time in the UK on growing and developing your business. And they make sure by conducting regular checks on you.
In 6- and 12-month time after obtaining a Start-up visa and moving to the UK, you will need to contact your endorsing body and report to them on your achievements and persuade them that they have made the right decision in supporting you. However, this might not be enough.
The Home Office can conduct their checks on the endorsing body that issued you a letter. They would ask them to provide additional information to:
An endorsement is not indefinite; it can be revoked if you fail to report within prescribed time limits.
If your sponsor decides to revoke their endorsement after reviewing your report or they lose their authority to endorse, all you can do is find another endorsing body.
The same applies to an entrepreneur team; if at least one of you is revoked, all of you lose the endorsement.
A Start-up visa allows to bring the following dependants to the United Kingdom:
Family means responsibility, and you must show to the Home Office that you have enough money to maintain all family members.
Add to the £945 mentioned above another £630 for each dependant coming with you. Say, you want to move with a spouse and a child – you must have at least £2,205 on your bank account. The rules also state that the required amount must be on your bank account or on your relative’s bank account for at least 90 days before applying.
If you switch to the said visas, you will be able in a few years to apply for UK permanent residence, or settlement. Your family can apply with you. To do that, all adult applicants must pass an English test and Life in the UK test.
UK permanent residents have almost the same rights as British citizens. But if you want to become British yourself, you can apply for naturalisation a year after settlement.
For many years, qualified lawyers at Imperial & Legal have been helping foreign nationals to come to the UK. Our specialist have relevant experience and expertise to offer full business support to your start-up every step of the way, from drafting a business plan for a visa to switching to another visa and applying for settlement.
Experts at Imperial & Legal offer turn-key customised solutions to our clients to meet all their needs, both personal and business. We provide full business support and corporate services and help with relocation to the UK.
We will work with you to find a customised solution for your immigration, second citizenship, business, tax and other needs.
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One of our qualified advisors will get back to you today or next business day.
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