Are you an ambitious entrepreneur with an original business idea and looking to set up your first business in the UK? The UK Start-Up Visa may be for you.
The UK Start-Up Visa is aimed at entrepreneurs who would like to set up a new and innovative business in the UK. The biggest advantages of the route are that there is no investment funds requirement and there is no need for the involvement of a UK employer in the visa application process.
How may I qualify for a Start-Up Visa?
In order to be eligible for a Start-Up Visa, one is required to:
- Be at least 18 years old;
- Meet the English language requirement of level B2 of CEFR (intermediate level);
- Have access to funds of at least £1,270 for maintenance purpose; and
- Have obtained endorsement from a Home Office approved endorsing body.
There is a limited list of Home Office approved endorsing bodies, comprising UK higher education institutions and business organisations with a history of supporting UK entrepreneurs. In assessing whether to offer endorsement to a particular candidate, the endorsing body will primarily be looking at if the candidate’s business idea is innovative, viable and scalable.
A Start-Up Visa is valid for a period of 2 years. Although you are unable to extend your leave on the same visa, you may be eligible to switch to another category of visa before the expiry of the Start-Up Visa, such as switching to the Innovator Visa, which can lead to settlement in the UK.
How can Gherson assist you?
We can provide full guidance on the Start-Up Visa requirements and process. If you are interested in understanding if this is a potential visa route for yourself or someone you may know, please contact us to discuss your options, send us an e-mail, or alternatively, follow us on Twitter, Facebook, or LinkedIn to stay-up-to-date.
The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please don’t hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.