UK startup visa
The UK startup visa is appropriate for persons with new and inventive ideas who want to start a business in the UK for the first time. The UK government introduced the UK startup visa program to applicants from all over the world with the goal of attracting foreign investors and entrepreneurs with innovative ideas, and as a result of this policy, UK startups have developed dramatically in recent years. In general, the British startup visa is one of the sorts of British visas that allow entrepreneurs to start their business by presenting a business idea in the UK, which benefits the country’s economy considerably. This visa has a two-year maximum validity duration after which the applicant must change his visa to another type, such as the UK innovation visa, and continue building his company. The person can apply for permanent residency in England after changing visas and residing in the country for three years.
UK startup visa benefits:
- There is no requirement for start-up money.
- Development in an economically balanced and developed environment
- Connecting with powerful and efficient UK accelerators
- You can work another job in addition to your startup.
- Bringing a spouse and children under the age of 18 at the start of the immigration procedure.
- The opportunity to obtain a valid passport for your spouse and children
- Education is free for the spouse and children under the age of 18.
- Direct access to startup funds in the United Kingdom
- After three years of residency in England, it is possible to get permanent residence by altering the startup visa.
- The potential of going through the entire immigration process as a group and establishing a startup
- The ability to enter and exit England multiple times
- The ability to take advantage of British government benefits such as pension insurance, tax breaks, and housing help.
UK startup visa requirements:
- A language certificate with a relatively high score is required.
- You must not have previously established a firm in the United Kingdom.
- You must not be a European Union citizen.
- You must not be infected with TB.
- Through this visa, you cannot get permanent residence in England directly
- You must be at least 18 years old.
- Having no criminal record
- Your proposal must be approved no later than three months before the start-up visa application deadline.
- You must have the desire and ability to carry out the business activity that you described in your application.
- Proof of financial capability, as well as evidence that you have had around twenty million Tomans (£945) in your bank account over the last three months.
Required documents for UK startup visa:
- Letter of approval from a reputable English financial institution
- A current passport or other proof proving your identity and nationality.
- Bank statements from at least 28 days prior to applying, demonstrating that you have at least £1,270 in savings.
- Certificate in English
- If necessary, providing TB test results
Language certificate required to get UK startup visa:
You must have at least CEFR level B2 to apply for a UK start-up visa. The B2 level corresponds to an IELTS score of 5.5 in the four areas of reading, writing, listening, and speaking. The following documents are acceptable for a UK startup visa:
- Minimum IELTS score of 5.5
- PTA score of 59
- A passing score in each SELT skill
- ESOL score of 33.50
UK startup visa fees:
Applicants for a UK startup visa do not require any initial cash to invest in their business. The investment required to secure a UK startup visa is not the same as the initial capital required to create your business. If you are not from the UK or have just been there for less than a year, you will require at least £1,270 to cover your expenditures. If you want to cover your partner’s expenditures, you’ll need 280 pounds for the first child and 315 pounds for the second. You’ll also need £200 for each additional child.
Procedures for obtaining UK startup visa:
1-Creating a business plan
2-Obtaining approval from English financial institutions
3-Making an application for a startup visa in the United Kingdom
4-Obtaining a startup visa and entering England
1-Creating a business plan:
Your business proposal is the most critical and sensitive phase in obtaining a UK startup visa. Your business strategy should be novel and innovative; it should have a large income generation capability; and it should be created in commercial format and be highly profitable.
2-Obtaining approval from English financial institutions:
At this point, a certified economic institution in the UK must analyze your business proposal in terms of innovation, practicality, and scalability, as well as validate that the majority of your time spent working in the UK is spent developing your business. It takes roughly 3 months to gain permission, and you may be invited for a face-to-face or Skype interview during this time.
3-Making an application for a startup visa in the United Kingdom:
At this point, you submit your startup visa application to the British Immigration Office; you will also undergo fingerprinting and biometrics. Your spouse and children, on the other hand, must act independently. After this stage, you must wait for the final response.
Allow 3 months from the moment you sign up for HomeOffice. With this account, the entire process of obtaining a UK startup visa will take approximately 6 to 7 months.
4-Obtaining a startup visa and entering England:
At the start of your immigration process to England, your visa is valid for two years. You can now establish your business with the help of supporting companies and obtain a loan. After finishing this course and launching the startup that you claimed at the start, you will be granted another three-year visa. If you have been registered in the UK for a total of 450 days after completing your five-year stay, you can apply for a British passport.
Features of the business plan approved by the UK:
- Based on the applicant’s available resources, the business plan should be reasonable and feasible.
- The business plan should include organized planning as well as the potential for employment management and expansion in the UK market.
- Your business plan should clearly outline the needs of the present and new markets, as well as demonstrate that you can generate a competitive edge throughout the execution phase.
Why should I choose the UK to apply for a startup visa?
In 2022, England is being ranked among the top ten countries in the world in terms of business laws. The European Startup heatmap Institute, on the other hand, has named London the greatest city on the green continent for founding a startup.
