Several paths are available for individuals who wish to set up a business in the UK. We have a wide range of experience in advising on historic entrepreneur applications where clients may now be ready to extend or apply for indefinite leave to remain and can assist individuals who wish to apply for an investor, start-up, or innovator visas.
Following the announcement of the closure of the investor visa, we are also able to assist existing investor visa holders with extension and settlement applications, applications to bring qualifying family members to the UK, and can advise on alternative routes for new applicants.
On 17th February 2022, the UK Government announced that the category was closed to new applicants. As a result, only existing Investor visa holders can apply under the category for an extension or settlement. They may also bring family members to the UK as Dependants if they meet the relevant requirements.
The category initially allowed individuals who had at least £2 million in investment funds to apply for an Investor visa. For those clients who have already secured an Investor visa, the funds will need to remain invested in acceptable investments for the full duration of the visa until the applicant can obtain indefinite leave to remain if required.
The Innovator Visa assists experienced entrepreneurs to establish new businesses in the UK. Applicants are required to have access to £50,000 for business investment and will need to have their business endorsed by an appropriate body. Multiple applicants can form a team and apply for endorsement to be co-directors of the same company. But each applicant still needs to be able to demonstrate that they have £50,000 to invest. Applicants are required to present a detailed business plan to the endorsing body, together with any other documentation which is requested to prove that the visa requirements are satisfied:
he applicant must have an innovative and valid business plan, must create a competitive advantage, satisfying all the market needs.
Your business plan presents a structured plan and potential for employment production and growth within national and international markets.
The new Start-up visa route opened to new applicants at the end of March 2019 and is a successor of Tier 1 (Graduate Entrepreneur) visa. If you are looking to establish a new business in the UK, our team are specialists in assisting clients through the application process.
This new category of visa aims to appeal to entrepreneurs wanting to start a business in the UK but importantly it does not require financial investment, nor even a university degree. The business must be viable, scalable and an innovative business idea. The business idea and plan also has to be endorsed by a Home Office approved endorsing body.
The Start-up visa is granted for a maximum of 2 years and cannot be extended. After 24 months, you must demonstrate enough progress to meet the requirements of the UK Innovator Visa; if not, you can apply for the UK Innovator Visa with any other idea that meets the requirements.
