UK Startup Visa
INVESTMENT IN BUSINESS
YEARS TO STARTUP BUSINESS
BANDS IN IELTS REQUIRED
UK Startup Visa
Startup Visa is for someone who wants to apply for the visa from inside or outside the UK with the intention to set up a business in the UK
- Your age must be above 18+.
- Meet the English language requirement out of which IELTS or Degree in English from a recognized University.
- Must have at least £945 in your bank account for 90 consecutive days before you apply.
- Must have a business plan and you must be able to show that your business idea is: A new idea – you cannot join or invest in a business that is already trading or Viable, with potential for growth
- Your business plan/ idea must be endorsed by an authorized body that is either:
- UK higher education institution or A business organization with a history of supporting UK entrepreneurs.
You can stay in the UK for 2 years on a Start-up visa. You can:
- Bring family members with you
- Switch to this visa from some other visa categories
- Work in another job, as well as working for your business
Visa Process for UK Startup Visa
What happens in the 4 stage process
Stage 1 – Visa Eligibility Check and Application Form
- An interview is held with the International Office who will undertake a visa eligibility check which will be passed to the Enterprise team on completion. The applicant should make sure they understand all the processing charges.
- The Enterprise team will explain the Startup Visa (SV) scheme and take the applicant through the Application form; the Applicant signs the form prior to commencing work with the Enterprise Team.
- At this point the applicant should ensure that they have deposited sufficient funds in their bank account for use throughout the application process.
Stage 2 – Preparation for Panel / Presentation to Panel
- The Enterprise team work with the applicant on preparing a viable business plan with financial forecasts (3 years) and a presentation for an Endorsement panel. The applicant will normally receive 2 consultations during this period – additional sessions are at the discretion of the Enterprise team
- The Enterprise team will make a continuous assessment of the applicant and will only convene an Endorsement Panel when they consider the applicant suitable. They will not take part in the Endorsement panel and are not part of the final decision to endorse an application.
- Applications can be made from within the UK or outside of the UK during this time. There are different rules according to where the application is made – please refer to the Government website or International Office for details.
- If the Endorsement panel approves the application a report is sent to the International Office and an endorsement letter is prepared. Please note that this can take up to 4 weeks (or longer if there are complications).
Stage 3 – Visa Application
- Once the endorsement letter is available the applicant should arrange a meeting with the International Office who will help them to make the formal application for the visa. This will involve payment of the various processing fees, including the Health Surcharge. It is the applicant’s responsibility to make sure they understand the full range of charges since they will depend on individual circumstances.
- The application is submitted along with the applicant’s identity documents. Please note: the applicant will not be able to undertake any activity requiring presentation of identity documents during this time (such as international travel) and must not register the business before receiving an approval visa. The time required to process the application is as specified on the Government web-site
Stage 4 – Incubation Programme
- The applicant will be notified once the Visa has been issued and will be required to arrange an ‘Induction meeting’ with the International Office within 2 weeks of receiving their Visa. Failure to make this meeting may result in withdrawing their sponsorship.
- After visa the applicant will be required to pay the incubation programme fees in full. They will be reminded of their obligations under the Startup Visa scheme You can get more information on https://www.gov.uk/start-up-visa
LPR – Legal Permanent Residency pathway…
- Applicant will be eligible to switch the visa into Innovator Visa after 2 years, the same will be granted for 3 years, during this time applicant will have to work in the same business for which the endorsement are issued
- At the time of applying for Innovator Visa, the applicant need to show that he/she got access to more than £50,000.00
- Applicant will be eligible to apply for Indefinite Leave to Remain after successfully completing 5 years (2 years on Startup Visa and 3 years on Innovator Visa)