To establish a business visa UK as a migrant, you need to apply for the only route that is working successfully for more than 1000 entrepreneurs we have worked with, that is, the Self Sponsorship Visa route.
Exploring the opportunity to settle in the UK with the Self Sponsorship visa route may seem like a cake walk, but the process may be very detailed, and there can be a lot of things that you would not know.
In this article, we will tell you what you need to know about the Self Sponsorship Visa route process for a UK business visa.
Any Business Owner Can Apply
If you are thinking about and willing to set up a business in the UK or already own a business in which you would like to work provided you do not have the Visa to work in it you may apply for a skilled worker Visa through your own business ( which is called Self Sponsorship).
The route can be applied by any business owner whether new or existing even if they intend to establish a business in the UK while also planning to settle in the UK.
The Ideal Individuals for Self Sponsorship Visa Route
The Self Sponsorship Visa route is an innovative way that helps individuals to establish a business in the UK without a cap on the minimum amount of investment needed.
This is an advantageous route for entrepreneurs, business professionals, or those who wish to settle in the UK after some time and even who want to bring their dependents to the UK. This route is the most preferred route in terms of flexibility, having autonomy and ultimately leading to permanent residency.
Self Sponsorship Visa Route Differs From Other Traditional Routes of Investment
Here is a table to give you a view about how Self Sponsorship Visa route differs from other routes if investment in the UK:
Criteria | Self-Sponsorship Visa | Traditional Investment Routes (e.g., Investor Visa, Innovator Visa) |
Initial Investment Requirement | Low or no minimum investment required. | Investor Visa: Minimum £2 million; Innovator Visa: Minimum £50,000. |
Ownership & Control | Full control over your business as you self-sponsor. | May require collaboration with co-investors or startup incubators. |
Business Type | Can start a new business or use an existing business. | Innovative and scalable company ideas are needed for an Innovator Visa. |
Job Creation | Must create jobs for UK residents within 12 months. | Investor Visa: No job creation requirement; Innovator Visa: Yes. |
Visa Duration | Initial visa for 3-5 years, can be extended. | 3 years (extension available for investor visa) |
Path to Settlement (ILR) | Possible after 5 years (earlier with substantial growth). | Investor Visa: After 5 years (or 2-3 years with higher investment); Innovator Visa: After 3 years. |
Risk Level | Relatively lower, as you have control over business. | Investor Visa: High capital risk; Innovator Visa: High innovation risk. |
Eligibility Criteria | Requires a valid UK business and ability to sponsor yourself. | Investor Visa: Must prove legal source of investment; Innovator Visa: Must have endorsement from an endorsing body. |
Visa Flexibility | Increased freedom to select the kind and industry of your firm. | Innovator Visa has specific business requirements; Investor Visa allows passive investments. |
Application Process | Entails registering a company in the UK and requesting a sponsorship licence. | Investor Visa requires proof of investment; Innovator Visa requires business approval. |
Control Over Business Decisions | Full control over decisions, as you are the sponsor. | Innovator Visa: Must follow approved business plan; Investor Visa: Less involvement in business decisions. |
Residency Requirement | Must visit the UK for a minimum of 180 days a year. | Investor Visa: Must spend 180 days/year in UK; Innovator Visa: Same. |
Cost of Application | Standard business visa and sponsor licence fees. | Investor Visa:£2 million investment plus £1,623 application cost. investment. Innovator Visa: £1,036 application fee. |
Primary Criterias To Fulfill
As you are aware that the Self Sponsorship Visa Route requires no minimum investment or requirements regarding endorsements but you still need important criteria that must be fulfilled.
The corporation needs to be a legitimate enterprise conducting legal business in the UK in order to get a sponsor licence. The following proof is just a sample of the many documents that the corporation must submit when requesting a sponsor licence from Appendix A:
Evidence that the employers' liability insurance has at least £5 million in coverage from an insurer that has been approved by the Financial Conduct Authority;
documentation proving HMRC registration;
most recent confirmation of an organisation's tax return;
VAT registration certificate issued by HMRC.
evidence that you own the business space or are renting it out;
The most recent annual financial statements, verified by a certified public accountant;
recent bank statement, either corporate or business, from a bank under FCA and PRA regulation.
Duration of process
Obtaining a UK sponsorship visa might take a variety of lengths of time, although it usually takes six to eight months. Acquiring an existing firm or launching a new venture in the UK is the first step in the process. The next important step after starting a business is to get the required licences, such the Sponsor Licence, which enables the enterprise to sponsor migrant workers, including you as the owner.
In order to obtain a Sponsor Licence, a firm must prove that it is legitimate, operational, and able to carry out the obligations associated with sponsoring a migrant worker. This step necessitates a thorough examination of the company's employment policies, finances, and structure. The actual visa application procedure can start as soon as the licence is obtained.
To Conclude
It is highly recommended to deal with professionals like A Y & J Solicitors that have experience with both immigration and business establishment in the UK due to the complex nature of this procedure, which entails knowing UK immigration rules, business regulations, and compliance needs. A Y & J solicitors have extensive knowledge in this field and can assist you at every stage, guaranteeing that all legal prerequisites are satisfied and your application is best positioned for success. Professional assistance may greatly speed up the process and help avoid expensive delays or rejections, from document preparation to dealing with UK authorities.
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