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United Kingdom:
The Start-up Visa category is reserved for early-stage, high potential entrepreneurs starting a business in Britain for the first time. The earliest that you can apply for a UK Start-up Visa is three months before you travel. It can take a minimum of three weeks to receive a decision on your visa application. UK immigration rules published on 7 March, 2019 describe the Start-up Visa as: “An expanded version of the Graduate Entrepreneur scheme.”
Start-up Visa Requirements
UK Immigration rules specify the following, minimum requirements to be eligible for the Start-up Visa:
- You must be at least 18 years old
- Your Business or business idea must undergo an assessment by an approved body.
- You must meet English Language requirements.
- You must provide evidence of personal savings to support yourself during your time in the UK
Your stay in the UK.
You can stay in the UK for two years on a Start-up Visa and you can bring family members, including a spouse or partner and children under the age of 18. You will spend the majority of your time in the UK developing your business, but you can work outside your business to support yourself.
There is no option to extend your Start-up Visa after two years, but you can switch to the Innovator Visa to extend your stay in the UK and develop your business. The Innovator Visa is valid for three years; with the option to extend when it is due to expire.
After five years, you could be eligible to apply for indefinite leave to remain (UK settlement).
Applying for a UK Start-up Visa
You can only apply for the Start-up Visa, online. In addition, you will need to have your fingerprints and a photograph taken at a UK visa application center in the country from which you are applying. You must do this to get a biometric residence permit, which is needed as part of your Start-up Visa UK application.
To support your application, you must provide a business plan and supporting documents for endorsement. Most UK universities are endorsing bodies, along with the following business sponsors:
Business Sponsors
• The Bakery | • Ignite | • Scottish EDGE |
Those endorsing your Start-up Visa application must be ‘reasonably satisfied that you will spend much of your working time in Britain developing your business venture’ in accordance with UK immigration rules.
UK Immigration Health Surcharge
When you apply for a Start-up Visa, you will have to pay the UK Immigration Health Surcharge of £400 per year.
Innovator visa is as a: “A route for more experienced businesspeople looking to establish a business in the UK, Applicants will have an innovative, viable and scalable business idea which is supported by an endorsing body. With some exceptions, applicants will have funding to invest in their business. This category may lead to settlement in the UK.”
UK Innovator Visa and Eligibility
The UK Innovator Visa is a UK visa category usually for experienced business people to set up an innovative business. The investment requirement is £50,000 and you need to be endorsed by an endorsing body. Because of the endorsement requirement, this visa may be difficult to come under at the moment. The UK Innovator Visa replaces the Tier 1 Entrepreneur Visa category.
You’re eligible for this visa if:
• You are not a national of the European Economic Area EEA and Switzerland. • You want to set up or run a business in the UK. To set up or run a business in Britain your business or business idea must be endorsed by an approved body. If you want to set up a business in the UK, you must have access to £50,000 (reduced from the £20,000 usually needed for a UK Tier 1 Entrepreneur Visa) in investment funds. If you already have a business established in Britain and you have been endorsed for an existing UK visa, no minimum investment funds are required. The UK Innovator Visa replaces the Tier 1 Entrepreneur Visa category.
Innovator Visa Requirements
UK immigration rules specify the following requirements to be eligible for the Innovator Visa:
- Innovation- Proof of a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage.
- Viability- Applicants must be able to demonstrate the necessary skills, knowledge and experience, plus market awareness, to run a business competently.
- Scalability – Evidence of structured planning and the potential for job creation and growth into national and international markets.
Your stay in the UK
You can stay for three years if you enter the UK on an Innovator Visa or if you switch to the visa from another valid UK visa. You can apply to extend your visa for another three years when it is due to expire. There is no limit on the number of times you can extend.
After five years you could be eligible to apply for indefinite leave to remain (UK settlement).
Applying for an Innovator Visa UK
You can only apply for the Innovator Visa, online. In addition, you will need to have your fingerprints and a photograph taken at a UK visa application center in the country from which you are applying. You must do this to get a biometric residence permit, which is needed as part of your Innovator Visa UK application.
The earliest your application, you must provide a business plan and supporting documents for endorsement. A business sponsor from the following approved bodies will endorse your business plan and Innovator Visa application.
Business Sponsors
• The Bakery | • Ignite | • Scottish EDGE |
The earliest you can apply for an Innovator Visa is 3 months before you travel. It can take a minimum of three weeks to receive a decision on your visa application.
To support your application, you must provide a business plan and supporting documents for endorsement.
UK Immigration Health Surcharge
When you apply for an Innovator Visa, you will have to pay a UK Immigration Health Surcharge. You have to pay £400 a year payable in advance for the duration of the UK.
Those endorsing your Innovator Visa application must be ‘reasonably satisfied that you will spend much of your working time in Britain developing business ventures,’ in accordance with UK immigration rules.