One can apply for a Start-up visa if:
- he/she wants to set up an innovative business in the UK – it must be something that’s different from anything else on the market, and
- he/she meets the other eligibility requirements.
One must be endorsed by an authorized body that is either:
- a UK higher education institution, or
- a business organization with a history of supporting UK entrepreneurs.
One must be able to show that their business idea is:
- a new idea – one cannot join in a business that is already trading,
- innovative – one must have an original business idea which is different from anything else on the market, and
- viable – it has potential for growth.
HOW LONG YOU CAN STAY?
One can stay for 2 years if they either:
- come to the UK on a Start-up visa, or
- switch to this visa from another visa while in the UK.
WHAT IF, IF YOU WANT TO STAY LONGER IN THE UK?
One cannot apply to extend this visa.
One may be able to switch to an Innovator visa if they set up a business while on a Start-up visa and:
- their endorsing body assessed and agreed it,
- it is active, trading and sustainable, and
- he/she have day to day involvement in it.
HOW TO APPLY?
One must apply online.
How one can apply depends on whether they’re:
- Outside the UK and are coming to the UK
One must apply online for a Start-up visa.
When they apply they need to provide an ‘endorsement letter’ to show that an endorsing body has assessed their business.
One need to provide:
- a valid passport or other document that shows their identity and nationality,
- bank statements showing they’ve had at least £1270 in savings in their bank account for 28 consecutive days before they apply,
- proof that they meet the English language requirement, and
- their tuberculosis test results if they’re from a country where they have to take the test.
- Inside the UK and switching from a different visa
One might be able to apply to change (‘switch’) to a Start-up visa if they’re already in the UK on a different type of visa.
Before applying, one need to have their business or business idea assessed by an endorsing body. They will provide them with an endorsement letter if their business is viable.
One must also:
- be at least 18 years old
- meet the English language requirement
- be able to prove that he/she have enough personal savings to support their self while they’re in the UK
- one need to have had at least £1270 in their bank account for 28 consecutive days before they apply, or if they’ve been in the UK for less than a year and applying to switch to this visa.
Who cannot apply to switch to this visa
One cannot switch to this visa if he/she have one of the following:
- a visit visa,
- a short-term student visa,
- a Parent of a Child Student visa,
- a seasonal worker visa,
- a domestic worker in a private household visa,
- immigration bail, and
- permission to stay outside the immigration rules, for example on compassionate grounds.
Their partner and children can also apply to stay in the UK if they’re eligible. They’ll need to complete separate applications.
HOW LONG IT TAKES?
Once applied online, proved your identity and provided your documents, one will usually get a decision on visa within:
- 3 weeks, if you’re outside the UK
- 8 weeks, if you’re inside the UK
How much one pay for a Start-up visa depends on their situation and where one can apply from.
|Who you’re applying for
|Apply (outside the UK)
|Switch (in the UK)
|Your partner and children
|£378 each person
|£508 each person
WHAT YOU CAN AND CANNOT DO
With a Start-up visa you can:
- bring your partner and children with you as your ‘dependents’, if they’re eligible
- work in another job, as well as working for your business
- travel abroad and return to the UK
- You can also switch to this visa from some other visa categories.
- apply for most benefits (public funds), or the State Pension
- work as a professional sportsperson, for example a sports coach
- settle in the UK on this visa
BUSINESS PLAN FOR UK STARTUP VISA
One of the first requirements for the application of your startup visa is to write a business plan address to the Home Office. The business plan should reflect strategies that are going to make the business successful and hence benefiting the economy of the UK. Thus, the business plan should be written in details. As per the Home Office, the acceptance or rejection of your Visa entirely depends upon the kind of business plan you write. 1/3rd of all the Visas get rejected by the authorities due to poorly constructed business plans.
WHAT NEEDS TO BE INCLUDED IN THE TIER 1 BUSINESS PLAN?
Details regarding every area of your business should be present in your business plan. That includes:
- Executive summary
- Business overview
- Physical setup and operational plan of the business
- Market Analysis
- The details of the services and products you would be selling
- Sales and Marketing plan outline
- Competitor Analysis
- Role of all the key players involved in the business and their information
- Financial projections and plans
We, at Infocrest, will help you in writing a winning Business Plan which will help you get an endorsement at one go.