This visa category is for those individuals who have their own business idea and want to develop it in the UK. The visa category requires endorsement of the business plan from authorized and registered endorsing bodies in the UK including higher education institution and innovation incubators in the UK. The prime criteria for assessing the business idea is innovation, scalability and viability of the prospective business plan. This visa category also known as business startup visa, business visa, entrepreneur visa, graduate entrepreneur route, job search visa etc.
The Role of Endorsing Body in the Startup Visa in the UK
Endorsing body plays pivotal role in the startup visa UK. You should not seek immigration services from endorsing bodies. Endorsing bodies must not provide immigration services. It is the clients or applicants responsibility to take independent immigration advice before planning to apply for startup visa in the UK. Endorsing body will assess the applicant business plan, endorse them, provide key business support functions, provide access to professional network, provide necessary business environment or incubation facility to develop business idea through different stages until it gets large multinational businesses. Endorsing body will assess the client performance and provide necessary feedback to help client business grow. It is quite common for startup businesses to fail. The endorsing body will not make your business successful. However, they will provide enabling environment in which efforts will be paid off with success ultimately. If your business is unable to proceed from seed stage to self-sustainable stage, they may review your original plan.
Duration and Condition of Stay in the UK
The startup business visa UK is for Two-year period and candidates can switch to other categories in order to extend the startup visa such as Innovator Visa. The start-up visa for UK will be withdrawn in case the endorsing body revoke its endorsement. The candidate should find another endorsing body in order to carry out the business plan. However, the visa is for two years duration only. During this period the applicant can develop their business ideas or pursue a professional career such as working for a company. However, at the end of the period, if the client is unable to develop the business plan for its UK business startup, there is low probability of getting innovator visa. This is not a settlement visa category; you must switch to settlement category before this visa expires in order to pursue British citizenship.
You can bring your family members with you. They can work and receive education in the UK. You have to pay health insurance IHS. You cannot indulge in receiving public funds, work as a doctor or dentist in training, work as a professional sports person.
Minimum Requirements for UK Startup Visa
For UK business startup visa, you must attain the age of majority. You should be able to prove your competency in the English language, if required. You must receive your endorsement letter from authorized and registered endorsement body for your business venture. You should have enough fund to support yourself, your family, your business, and the cost associated with the endorsement process. The agency costs associated with endorsement process can be significant.