Are you planning to start a new business in the UK? and Want to get UK business visa? Great! You have landed on the right page! We are here to help you with the tips that can make things easy for you to kick start your new business in the UK. We all know how The United Kingdom has always opened its arms to innovation. This part of the world has always encouraged entrepreneurship and continues to do so. In fact, they have made it easy for the foreigners as well to come to their land and start a business to progress together.
At first, things do sound complicated, but we are here to clear it for you. Right from how to start, to UK business visa application, to how to take things ahead, we have covered every aspect. If you belong to The United Kingdom, then you might not require any special steps to follow. But, it is important for the ones who are outside the European Union. Let’s get started with the guide that can make it easy for you to move ahead with your idea in the UK. You should also read about UK work permit processing time.
Who Is Allowed To Start Their Business in The UK?
As stated above, the citizens who are EEA and EU nationals don’t require any kind of special acceptance or approval for business. But, yes, there is an exception for the people in Romania and Bulgaria. Things are a lot different from the ones who are outside the country. First, you need to apply for a UK business visa and get that approved.
In fact, prospect entrepreneurs can also avail better treatments to gain out of points-based immigration processes in the UK. This is only possible when you follow the rules that can help you get to the Tier1 platform. Hopefully, you got clarity on who all can get their business started in the UK. Now the question might be how! Don’t worry, we have that sorted for you! The below segment can help you understand how to get started with your dream business in the UK. Let’s check it out!
Steps To Kick Start a Business in the UK?
As a foreigner, if you desire to start your self-employed life in the UK, then you need to know about some of the basic steps related to it. Let’s dive in:
- Legal Status: The first and the most important step that you need to check is your immigration status. If you are not an EU or EFTA national, then you need to have a visa and residence permit in the UK first.
- Business Plan: The next important step is to get your business plan drafted convincingly. It is important that you frame it in such a way that it sounds convincing and positive. If it does, then you are likely to get a thumbs up.
- Structure: After a business plan, the next important step that you need to work on is selecting the business structure that is going to represent your mode of work.
- Business Identification: After this, you need to decide on the factors like business name and address. You need to get them registered and have their documentation done to move ahead for the tax purposes.
- HM Revenue and Customs Registration: After you have your business identification details ready, the next step has to be getting your business registered with HMRC for tax-related needs and then also getting associated with Companies House.
- Following All The Other Rules: You need to check if there are any other additional rules to follow to set up your business in the UK. You need to check with rules and regulations related to licenses and permits, insurance, import and export, and others to work accordingly.
Hopefully, you are clear with the steps that need to be followed to get started with your business in the UK. But, all this is only possible if you get your UK business visa approved. So, the question is, how can you avail your business visa to get started with the steps? Let’s check that in the below segment!
Steps To Avail UK Business Visa
To get started with your UK business dream, you need to first get your visa approved. So, you need to apply for the same as per the requirements and follow the right steps for approval. So, if you are thinking about starting your business in the UK, below mentioned are the visas that you can consider opting for. Take a look:
Innovator visa
When it comes to innovator visas, it follows the same guidelines as the now-defunct entrepreneur visas. To get this visa approved, you must have your investment capital of a minimum of £50,000. If you do not have that much-invested capital, then you must have funds endorsed in the government assets that belong to the UK government.
There are many more rules that you need to follow to get the respective visa approved, like belonging to a majority English-speaking country or having a convincing English language examination convincingly. It can cost you around £1,021 and is valid for three years. If you meet all the criteria, you can extend the validity even more.
Start-up visa
You can also consider applying for a start-up visa if you already have a degree of the same from a UK higher education institution. Not only this, but if any specific organization has funded you for the same, then also this visa is applicable. But, this organization must have supported several start-ups before as well.
To get this visa approved, you need to first prove that your business idea is fully innovative and new. Not only this, but you also need to show that your business idea has the potential for excellent opportunities and growth. It can cost you around £308 to £363. This visa is valid for two years, and you can’t extend its validity. You can get this visa switched to an entrepreneur visa after the validity is over.
Investor visa
You can consider applying for an investor visa if you have more than £2 million to invest. Applying for an investor visa can cost you £1,623. It can take up around 3 months to get the application approved so that you can travel and get started with the same. With the help of this visa, you can reside in the United Kingdom for 3 years and 4 months maximum. You can also get the validity extended if you are able to match their criteria.
Wrap Up (UK Business Visa)
Hopefully, you have got complete clarity about how you can start your business in the UK. If you need any assistance with a UK business visa, you can always consider connecting with the experts. They can take care of all the aspects and help you kick-start your business. Good luck!
FAQs Related To UK Business Visa
How long does it take for Indian citizens to obtain a UK business visa?
If all the necessary paperwork is accurately provided, the maximum time needed to obtain a UK business visa from India is 15 days. Three to five days of Processing time are applicable for priority visa applications. Super priority applications must be processed within 24 hours.
How long can visitors on business visas stay in the UK?
A business visa allows you to stay in the UK for a maximum of six months. If your visa was accepted for fewer than six months, you can ask for an extension. The maximum stay will then be increased to six months.
