Have a business idea, look into the UK Start Up visa today!

The Start Up visa was created by the Home Office for entrepreneurs who wish to start up their business venture within the UK, and obtain residency this way. Whilst it is not an “Investor Visa” per say, and no financial requirement is to be met, one must secure endorsement for this business venture and then the visa can be applied for.

Successful entrepreneurship is great for any country. It creates value for many stakeholders and brings in money for the country. If a team is required, new employment opportunities are created. If you have a unique business idea and are wanting to relocate to the UK, this is a great option to look into.

What is required to apply?

We have specialists who are able to assist applicants applying for the visa and to ensure you and your endorsement meet the criteria to qualify for the visa. To apply, no tertiary education or degree is required (unlike its predecessor route, the Tier 1 Graduate Entrepreneur visa), and no initial investment is required. You are also able to apply as a member of a group of entrepreneurs if you are not a sole proprietor.

How long is the visa valid for?

The visa is valid for two years, and then the applicant would need to switch to another visa category such as the Innovator Visa where further development of the business is required.

The application process is split up into two phases. The first step is to secure the endorsement from either a tertiary education institute or a business sponsor. The Home Office needs to see a business plan, with details on the business idea, projections and details on the strategy.

Take a look at the common criteria used to assess a new business idea

- Innovation: Your idea is original and has a competitive advantage

- Viability: The applicant is developing the necessary skills, experience, and market awareness

- Scalability: There is potential for job creation and contribution to the UK’s economy

- Commitment: You must ensure that your business venture is located in the UK, and your focus is on the growth of the business within the UK

Whilst there is no financial investment required any longer, you will of course require some capital initially to set up a new business.

What happens once you have been approved?

If the approval of your endorsement is met, the endorsing body will provide a letter of endorsement which you have 3 months to use to make the application for the visa. You’ll need to prove you have funds to remain in the UK whilst your business is getting started, as it is expected that one will not receive an income as they enter the UK and they want to ensure you are not claiming any UK benefits. The Maintenance Fund requirements are set as showing you have £1270 as the main applicant, plus an additional £285 for your dependent partner or spouse, an additional £315 for a first dependent child and additional £200 for each subsequent dependent child.