UK Start-Up Visa

Many people around the world dream of moving to the United Kingdom. Whether it’s England, Ireland, Scotland or Wales that you are interested in settling in, you may be wondering what your options are.

Some people move to the United Kingdom on work permits with a job sponsored by a British company. The first study added a British university before launching a career and settling in the UK. Many also move to the UK to reunite with family, whether it’s a spouse, a parent or a sibling.

However, there are many other ways of moving to the United Kingdom. The UK startup visa is one of those ways, and it’s an excellent way for people who are business-minded to move to this sort after immigration destination. Here’s what you need to know about the UK start – up visa and how you can use this process to make your dreams of migrating to the United Kingdom come true.

What Is the UK Start-Up Visa?

Like many countries, the United Kingdom has realized that immigration has economic benefits. In some cases, those benefits mean attracting scarce skills to the country. But in cases like the UK start-up visa, it’s all about bringing people who have business acumen, big ideas, and the means to fund them to the country.

In a way, the UK start-up visa is similar to immigration by investment programs or golden visa programs in other countries. People who have the means and the drive to start a business and improve the United Kingdom economy can apply to become residents via this means.

People who might not otherwise have qualified based on their family status or the education qualifications still have the opportunity to move to the UK and bring a benefit to the local economy. In turn, the United Kingdom government gets access to funding and businesses that might not otherwise have been started in the country. So you could say it’s a win-win situation.

UK Start-Up Visa Application Process

The immigration process is never simple, and countries like the United Kingdom, where so many people want to settle, are definitely at the top end of that spectrum. So you can expect a multi-step process that is complex and requires a lot of information and a lot of documentation.

There are two main parts to the UK startup visa application process.

First, you need to apply to a university or business incubator program to get approval for your business idea.

Next, you need to complete the immigration process and include the documentation you receive from that university or business incubator in your application.

What Is the Minimum Investment?

The UK startup visa program is interesting in that it doesn’t have a stipulated minimum investment. That does not mean that you don’t need to prove that you have the funds to support yourself and start your business. However, it is at the organization’s discretion that is reviewing and approving your business idea.

This means that the business people and academics involved in reviewing your business idea we’ll be the ones who decide if you have enough startup funding to make your idea a viable business.

That does complicate things for some people because there is no definitive answer to how much money you need to have. It is also part of the test to ensure that you have the business skills and insight required to turn your idea into a viable business.

What Are the Eligibility Criteria?

There are no real restrictions on the kind of business you can propose under the UK startup visa program. If your ideas are legal and make sense to the people who review business ideas for the program, you could be approved in theory.

However, simply having your business idea approved by a university or business incubator does not mean you’re at the end of the process.

Your immigration application still has to be approved by the British government.

That means that you need to be of legal age to move to the UK, you need to have a clear criminal record and not be a security risk to the country, you need to have proof of funds for your business idea and to ensure that you can support yourself once you arrive in the United Kingdom, any need to have various other tests and documentation which may include immigration medicals, birth certificates, police clearance certificates and others.

The government of the United Kingdom is meticulous when they are reviewing immigration applications. So you really do have to have all your ducks in a row.

Once you are approved for the program, you will be given a 2-year visa which you can upgrade to an innovator visa at the end of the two years. However at 6-month intervals during that two years, you do need to remain in contact with the organization that has sponsored your business idea.

All applicants to this program also need to undergo language testing to prove that they are able to speak English at an acceptable level

Can We Apply to Start-up Visa As a Team?

If your business is based around the idea of a team, and your business plan credibly requires you to apply as a team, this is a possibility. However, like every other immigration application to the United Kingdom, all members of the team will need to meet or exceed the UK immigration requirements.

What Are the Start-Up Visa Requirements?

There are several requirements that you will need to meet in order to successfully apply for the United Kingdom startup visa. These include:

• you must be 18 years or older
• You need to have a credible business idea that has been approved by a university or startup incubator that is involved in the program
• you need to prove that you have the funds available for any investment you might need to start that business and to support yourself while you are in the United Kingdom
• you need to meet all other immigration-related requirements
• You must satisfy all language testing requirements

because the United Kingdom startup visa program is somewhat objective, particularly on the part of the organizations that verify the credibility of business ideas, you may be asked for a variety of documentation that is not listed in a standard immigration application. This is done to ensure that your idea is bona fide and that you will be starting a genuine business in the United Kingdom.

What Is the Investment Funds Requirement for UK Start-up Visa

There is no fixed minimum amount of investment funds required for the UK startup visa.

Every application is reviewed individually based on the business plan submitted by the applicant.

Business specialists and academics will review your plan and verify that the investment you have available matches the financial requirements for that type of business.

While this may sound like a benefit, it can complicate the process somewhat because the onus is on the applicant to prove that they have the funds available to make the idea a reality.

In some ways, it’s easier when you are given a fixed amount that you need to match.

What Are the Eligibility Criteria?

The eligibility criteria for the UK start-up visa are somewhat flexible, too, with the exception of the immigration requirements themselves.

There’s no real limitation on the kind of business that you can start, so as long as you’re 18 years old, have the funds available to fund the business, and meet other immigration requirements, in theory, you are eligible to apply.

However, in this process, the first step is the most critical because you need to convince professionals and academics who work in the business arena that your idea is viable and credible. So this is a little bit like pitching to an investor. It really all depends on the strength of your idea and whether the people reviewing it believe it can succeed in the United Kingdom.

How to Apply to UK Start-Up Visa ?

If you have an idea that you feel might qualify you for the UK startup visa program, the first step you need to take is to visit the government website and find a list of organizations that can verify your idea.

You will need to create a detailed business plan outlining what you plan to do, how you plan to fund your idea, and what your projected sales and financial figures will be.

This is then submitted to the organization you choose, and they will take their time to review your package. They may contact you to ask questions or verify the information during the process.

Once the organization or incubator you have approached is convinced your idea is viable, they will issue you with the documentation you require to start the application process.

Next, you visit the UK immigration website and download the immigration package. This has all the documents you need to apply to become a resident of the United Kingdom.

You need to complete all the documents in the package and include copies of all documentation they request in the format it is requested in.

Your application is then submitted to the address listed on the website, including all fees required for processing your application.

Immigration officials will then verify that your package is complete and that you are eligible for immigration. Once that is done, they will request your passport to issue a residency permit.

It’s important to note that the initial startup visa permit only allows you two years in the UK. If you wish to extend that, you will need to apply for the innovator program, which will be based on the success of your business to date.

What Are the Fees?

If you are applying for the startup visa from within the UK, your application fee will be 493 Pounds per person included on the application. This might include other members of your team or your family if they are accompanying you.

If you are applying for the startup visa from outside of the UK, the application fee is 393 Pounds per person.

Remember that these fees do not include any of the costs associated with getting the documentation you need to support your application. There are also additional health surcharges, and you will need to pay fees to courier your documents, have photographs taken and so on.

Processing Time

The time to get a decision on your startup visa application is approximately 3 to 8 weeks, depending on where you apply from. However, it’s important to remember that this does not include the time for the entire process. You may need additional time to complete your business plan, and depending on what your immigration process is like and what information you need to provide, there may be additional time required by the UK immigration officials.

It’s always a good idea to check the latest processing times on the government immigration website as these can change from time to time.

Validity Period of UK Start-up Visa

The validity period of the UK startup visa is two years from the date on which it’s issued. If you start your business and your business does well during this. You can apply to have your residency permit upgraded to the innovator visa.

It is very important to note that the UK start-up visa cannot be renewed, so if you wish to stay in the UK for longer, you will need to apply for a different type of visa.

Innovator Endorsing Bodies

The government of the United Kingdom has created a list of innovator endorsing bodies that are allowed to verify business ideas as part of the UK startup visa program. You must submit your idea add documentation to one of these bodies. They are the only organizations that can support your application for this visa.

Permanent Residence

Permanent residence in the United Kingdom is known as indefinite leave to remain. You can apply for permanent residence or ILR in the United Kingdom once you have been a resident for three years, add provided you meet the criteria for this kind of residency.

Unfortunately, because the UK startup visa is only valid for two years, you will need to apply for an innovator visa for the additional year required before you can make this application.

There may be other options for applying for indefinite leave to remain in the United Kingdom if you have been a resident on a startup visa. For instance, if you were to marry a UK citizen, you may be able to apply based on your family status.

However, it’s important to remember that the UK startup visa does not give you permanent resident status in the United Kingdom. So if you don’t apply for a new visa or indefinite leave to remain, you will have to leave at the end of the two-year period.

FAQ

What kind of business can I start?

There are no real limitations on the kind of business you can use to support your startup visa application. However, you will need to convince a panel of professionals and academics that your business idea is viable. This means that it’s usually a good idea to choose a business idea that you are already comfortable and knowledgeable about. This is not the time to start inventing new ideas that you’ve never tested anywhere else.

What is it like to live in the United Kingdom?

The United Kingdom is one of the most desirable countries to live in in the world. There are many big cities, lots of opportunities, and generally a high standard of living. Many people who move to the UK find that the biggest challenge is the weather. It is not particularly sunny in the United Kingdom, and you will need to get used to rainy days.

Where can I live in the United Kingdom?

If you successfully apply for residency in the United Kingdom, you are able to live anywhere within the United Kingdom, which includes England, Ireland, Scotland, and Wales. While those are technically separate countries, they all form part of the United Kingdom.

What are the benefits of living in the United Kingdom?

Since Brexit, some of the benefits of living in the United Kingdom have changed somewhat. However, the United Kingdom is still considered a global powerhouse and is one of the most robust economies in the world. The UK is regarded as a leader in many fields, including the arts, technology, finance and many others, so there are plenty of opportunities to be had.

The United Kingdom is also a very stable country with excellent healthcare and schooling systems. So if you plan to move to the UK with your family, you won’t find the services lacking.

What if my application is not accepted?

If your application for a UK start-up visa is not approved the first time, you can reapply with a new business idea. However, if your immigration application is rejected based on inadmissibility or another legal ground, you will first need to address that problem before you can successfully apply.

Contact Us

Smart Citizenship is a professional immigration consultant that has been helping people around the world to make their new home in different countries for many years. We specialize in so-called immigration by investment and golden visa programs. While the United Kingdom startup visa is not technically one of those programs, it is one that we have assisted many people in accessing.

So whether you are just starting the process of developing your business idea or you are ready to get your application submitted, we can help to ensure that you succeed in your immigration goals.

Contact us to find out more about the UK start-up visa or many other United Kingdom immigration programs that might be available to you.