A new immigration route was introduced by the government of the United Kingdom earlier this year for those who intend to set up their business (es) in the country.
This immigration route is the Start-up Visa. It is one of the newest routes, as well as the innovator visa, set to replace other immigration routes which were under the Immigration system based on points.
Who can apply for the Start-up Visa?
This visa can be applied for by non-EEA citizens who intend to start up a business in the country. But, an authorized body must endorse it.
A list of endorsing bodies has published the Home Office, consisting of business organizations and UK higher institutions, which have the history of giving support to UK entrepreneurs.
How the Start-up Visa works
A successful applicant gets a two-year stay in the country. More than two years extension is not possible. Unfortunately, the two years also consists of the time spent by an applicant on a Tier 1 Graduate Entrepreneur visa in the country.
Indefinite Leave to Remain is not included in the visa. But, switching from Start-up visa to innovator visa is possible; so long the person is qualified. However, application for Indefinite Leave to Remain is possible through the innovator visa.
Some advantages of the Start-up Visa
- The main applicant can be accompanied by his/her dependents (partner, children under 18 years and spouse) and family members.
- The applicant is permitted to have another job, even with the Start-up business.
- Involvement with a UK employer or requirements for investment is not needed.
However, it is required that the applicant proves that his personal savings are enough to sustain them throughout their stay in the UK. It is required that, for ninety consecutive days, at least £945 is available in the applicant’s bank account before applying. However, for every family member or dependent accompanying, additional £630 for required.
Who can switch to the Start-up Visa?
The following people can switch to start-up visas if they are already in the country and are holders of the following visas:
- Tier 1 Graduate Entrepreneur
- Tier 4 General student visa
- Any Tier 2 visa
- Those with standard visitor visa in the UK, in order to receive supporting letter and funds from an endorsing body.
To get your possible Immigration options, approach Immigration News now, and we will also evaluate your profile with our Immigration experts and advise you whether you are qualified to apply or not.