Thanks to the new UK Startup and Innovator Visa, setting up and growing your business has never been easier. And the business visa pros at Dreamss Online are here to help you understand more about this incredible new opportunity to grow and expand your business worldwide.
It’s essential for your growth to understand your options throughout every step of your business journey. Having the proper Visa for the countries you want to do business in is just as critical to your success. Today, we wanted to take some time to dive into both the UK Startup Visa and the UK Innovator Visa so you can better understand which one is right for your business journey.
What is the UK Startup Visa?
This Visa program is designed and built for early-stage, high-potential entrepreneurs looking to start a business in the UK for the first time.
The program offers a one-off, two-year Visa, and during that time, you will spend the majority of your time developing your business.
What are the requirements?
To qualify for the UK Startup Visa, you must:
- At least 18 years old.
- Meet the English Language Requirement.
- Fulfill the Maintenance Requirement.
- Get endorsement from an approved endorsement body.
How do I get an endorsement?
You need to show that your new idea is original and innovative. This also means that it must be different and unique to anything already on the market and available in the UK. You cannot join an existing business in the UK.
Who can endorse you?
- UK higher education institution, or
- A business organization that has a history of supporting UK entrepreneurs
How about the Innovator Visa?
The Innovator Visa program is built for people who have business experience under their belt and want to set up a business in the UK.
If granted this Visa, you’ll be granted leave for three years at a time to do business in the United Kingdom. However, you must commit to working entirely on developing your business ventures while in the UK and are not permitted to take on other employment outside of your business. Including hiring out your labor to another employer.
What are the requirements?
To apply for this visa program in the UK, you must:
- Be 18 years old.
- Have at least £50,000 startup capital.
- Have an innovative idea that is viable and scalable.
- Show a savings of £1,270 to support yourself in the UK.
- Have knowledge of English language.
- Have a clean criminal record.
Are there any benefits?
With this Visa, you can:
- Start your own business or several businesses.
- Work for your business includes being employed as a director or self-employed as a member of a business partnership.
- Bring a business partner who also needs to meet the same eligibility requirements.
- Bring your family to live with you in the UK.
- There is no minimum salary threshold for you to be paid in the UK.
- Apply for settlement after three years and obtain a British passport.
No matter which UK visa option you’re considering, the visa pros at Dreamss Online www.dreamssonline.com are here to help. We know work closely with you to help identify which option is best for you and get you well on your way to UK business success!