UK Startup Visa is a promising startup program undertaken by the UK government to attract global entrepreneurs and business professionals to set up business in the UK. Since its inception, the program has gained immense popularity in the business immigration verticals. Each year thousands of applicants are selected by the immigration authority in the UK whose business plan or concepts are innovative and approved by an endorsing body.
The visa is granted for a maximum of 2 years which does not lead directly to permanent settlement in the UK with no extensions or renewals. However, applicants can switch their startup visa to UK Innovator Visa by meeting the eligibility criteria and achieving permanent residency. Applicants must be actively participating in the UK business and generate employment and revenue.
Below are the three steps to a successful UK Startup Visa application:
Step 1 – Business Plan/concept
To start a business in UK and the startup process, you need to have a unique business plan that meets the below requirements:
- Innovative – The business model and concept must be unique and innovative for the business market of the UK introducing a new product or services
- Viable – The business idea must be in-line with the market awareness with deep knowledge, skills, and experience to run the business successfully
- Scalable – The business concept must have evidence of business management planning, job creation planning, and potential to grow in the business market
Step 2 – Approved Endorsement
Under the UK Start-Up Visa, applicants need to acquire an endorsement letter from an approved UK endorsement body. Considering the nature of the business plan and domain sector, you need to identify the appropriate endorsing body. Submit your business plan to the endorsing body, and they will review the business proposal to see whether it meets the eligibility criteria of the body.
Step 3 – Credibility and Selection
For selection and starting a business in the UK, you need to demonstrate your genuine intention to undertake the business activity in the country. You are required to stick to the business plan and run the business adhering to the concept; otherwise, you can face rejection. If selected, you will be invited for a credibility interview. Then, you will be granted the formal approval letter for a UK Start-Up Visa.
To understand more about the UK Innovator Visa & Startup visa process and business opportunities, Get to know more call us at (+91) 859 533 8595 for immediate free counseling or write to [email protected] or visit Abhinav Immigration.