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Starting a business in the UK can seem like a very attractive option. However, to achieve this, non-UK entrepreneurs would have to jump through additional legal hoops apart from the already existing registration, licence, employment, and tax regulations that every company must comply with.
UK Business Immigration Requirements for Immigrants
To start a business in the UK as an immigrant, the first step is to obtain suitable immigration status. Not every visa allows foreign nationals to own and operate a business, but only those explicitly devised for that goal or that allow for it.
For example, obtaining a student visa does not give clearance for starting a business. If you are a holder of this or similar visas, you must switch to a qualified visa.
What Type of Visa Should Entrepreneurs Apply for?
Immigrants wishing to start a business in the UK have four business-oriented visa choices at their disposal:
– Innovator Visa
– Start-up Visa
– Global Talent Visa
– UK Sole Representative of a Business Overseas Visa
Note: The Entrepreneur Visa and Investor Visa (tier 1) are no longer issued by the UK Home Office until further notice.
Let’s explain each visa in more detail:
Innovator Visa
The Innovator Visa is a route for experienced foreign entrepreneurs with innovative business ideas recognized by an authorised endorsing body.
To obtain an Innovator Visa, you must have an investment fund of at least £50,000, unless your business was already established and endorsed under a different visa, or you’ve changed to another business with the approval of the endorsing body.
As an Inn… Read More
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