With the Start-up visa, foreign business owners with little or no experience can come to the UK to start a new business. You don’t need investment funds to get a Start-up visa because it’s for people who are just starting a business and want to learn more. This includes recent college grads. Those who wish to apply must make a detailed business plan outlining their unique business idea and get it approved by a recognised UK group.
A successful Start-up visa application requires a unique business idea; nonetheless, the most essential factors are originality, viability, and scalability.
WorkerVisa possesses significant knowledge in this field.
Those new to entrepreneurship and wish to open a firm in the UK for the first time are eligible for the UK Start-up visa. You are not required to obtain any initial financing or be a graduate. But you will need a creative, workable, and expandable business concept authorised by a body that provides endorsements.
Start-up visas are one-time permits only for two years and do not automatically result in permanent residence in the UK. Holders of startup visas, however, can remain longer under the innovator visa category and become eligible for ILR after three years. Applicants for start-up visas are permitted to enter the UK with their spouse and any children under 18.
Carefully preparing a solid business plan for your new Start-up idea is necessary to acquire endorsement (as explained below) for a Start-up visa.
Your business plan must demonstrate that your idea is novel, practical, and expandable. According to the Home Office regulations for this visa, a business plan will fulfil these three criteria if it:
Those hoping to obtain a Start-up visa must still have a functioning business in the United Kingdom. The exception applies if the company started up during the applicant’s last approval period as a Start-up visa holder, Tier 1 (Graduate Entrepreneur), or PhD extension plan student.
The Start-Up Visa is a popular visa category with a high eligibility threshold. It would be best if you were prepared to submit extensive evidence to demonstrate your suitability.
According to UK Visas and Immigration (UKVI), individuals eligible to apply include the following categories:
You can be considered if you are:
Visa applicants may require extra documentation to demonstrate to the Home Office that they meet the requirements to apply for a visa, depending on their specific situation.
It is recommended to consult with an experienced immigration lawyer to help you prepare the most substantial application.
There are many requirements for this route, and it is essential to ensure that you meet the requirements before applying.
As well as the eligibility criteria outlined, this visa’s endorsement requirement is a primary feature.
This is the current list of endorsing bodies and one of these must approve your business idea before it can be considered part of your visa application.
According to the Home Office, organisations can set their criteria concerning a genuine original business idea that fulfils new or existing market needs.
If your idea is approved, the endorsing body will issue a letter, which can be submitted with your visa application. The organisation will contact you after six, 12, and 24 months to review your progress according to your business goals.
The requirements by which endorsing bodies will assess your business idea are:
The business may fall under any sector without restriction, but you should have the appropriate knowledge, experience, and market awareness to develop the business.
You can continue working with another business outside of the main idea, however, the endorsing body must be satisfied you will have an adequate amount of time to develop the business.
Getting an endorsement, writing a thorough business plan, meeting financial benchmarks, and completing a full and correct application are all crucial aspects of applying for a UK Start-up Visa. Here, we’ll go deep into these areas to give aspiring business owners the knowledge they need to succeed.
Obtaining a recommendation from a credible organisation is the first stage in the application process. Find an endorsement group that shares your business’s values and operates in the same industry by doing some research. Determine if there are any prerequisites, criteria, or expectations for endorsement. You can increase the likelihood of receiving endorsement from the endorsing body if you make an effort to engage with that body and provide a well-thought-out business proposition.
If your application to be endorsed by a Start-up visa endorsing body is approved, you will be issued a Start-up visa endorsement letter. This letter must be submitted as part of your Start-up visa application. The Immigration Rules contain strict requirements regarding the information that must be included in a Start-up visa endorsement letter. Advice from an immigration lawyer will ensure that your endorsement letter satisfies the requirements of the rules.
There are several fees and costs associated with a UK Startup Visa application. The main costs include:
With the UK Start-up Visa, ambitious business owners can launch their ventures in a welcoming and encouraging setting in the United Kingdom. We’ve covered everything you need to know about the UK Startup Visa, including how to apply, what to expect during the process, how long it takes, how much it costs, and more, right here in this comprehensive guide.
In conclusion, you’ll need an endorsement from a recognised organisation, sufficient funds for living expenses, proof of English fluency, and a solid business plan to be granted a UK Startup Visa. The current acceptance percentage for the Startup Visa is 95.45%, so well-prepared applicants have a good shot of getting it.
The start-up visa route is open to both EU and non-EU citizens. Applicants can apply as individuals or teams. Moreover, the start-up route is for those setting up a business for the first time. Therefore, start-up migrants may need to work to support themselves while developing their business ideas. A migrant on a Start-up route in the UK can study, subject to the ATAS condition.
To apply for the visa, you should expect to pay the following rates according to your circumstances:
• Applying for yourself outside the UK: £378
• Switching to this visa yourself inside the UK: £508
• Your partner or child applying outside the UK: £379 per person
• Your partner or child switching to this visa in the UK: £508 per person
There may be additional fees, including the immigration healthcare surcharge, biometric information fees, and costs of obtaining/ translating documents for submission.
If you apply for this visa, you may have your application granted. Between 2019-2022, were 649 decisions issued, with a success rate of 87.8%.
The Start-up Visa application is very complex and requires much evidence and preparation. Our counsellors have experience completing applications for this visa.
Our expert services will fully prepare you for your Home Office interview and review your business plan alongside business plan specialists. Contact us today to get started.
The duration of a start-up visa is 2 years, minus the time already granted in Tier 1 (Graduate Entrepreneur) or startup category. If a person has already spent a maximum of 2 years as a start-up migrant, then needs to switch from start-up to innovator or any other route.
As a UK Startup Visa holder, you can work for your own business but not take on additional employment outside of your endorsed business venture. You must dedicate time to developing your business and refrain from engaging in other work that may hinder your progress.
