The UK Startup visa is a new category of UK business visa that is designed especially for early-stage but high potential entrepreneurs looking to start a business in the UK for the first time. This visa category was introduced to ensure that UK becomes home to some of the best global talent from all over the world. The idea behind this new type of visa was to attract the special talent in the UK and maintain the position of UK as the leading destination in the world in terms of innovation and entrepreneurs.
UK Startup Visa
- It attracts young and talented businesspeople to come and start a new business in UK.
- This move will increase the productivity levels and inject more growth and development into the economy of UK in the longer run.
- This will then lead to more and more employment opportunities for skilled and ambitious workers from both overseas and locals.
- The UK economy has been fuelled by the new start-up culture.
- Start-ups are well known for creating new employment opportunities for overseas as well as local workers.
- Much of innovation hub client companies are part of industry clusters that comprise of nearly 12 percent of UK GDP and nearly 2 million.
- The economy of UK is mainly dominated by services industry.
- As per Corruption Perceptions Index, UK is ranked as one of the least corrupt countries in the world.
- Start-ups are the reason behind the revival of many UK industries.
- Much of the innovation and progress in UK economy is determined by advent of these start-ups.
- Strong infrastructure and a sturdy taxation system is what make UK such a promising startup destination.
- Ease and viability of conducting business in UK makes it such a lucrative destination for business pursuits.
- The best part about exploring business opportunities in UK is the sheer creativity and openness with which they accept.
UK Startup Visa Eligibility Requirements
- Prior to applying for this visa, you are required to have your business or Business idea evaluated by an approved body.
- You will be given an endorsement letter stating whether your proposed business or business idea is viable or not.
- Aspirant must be a minimum of 18 years of age
- Must meet the English language requirements. You can do this by passing an approved English test with a minimum of CEFR level B2 in reading, writing, speaking and listening. Also, you need to have an academic qualification that was taught in English and recognized by UK NARIC, as it is equal to a UK bachelor’s degree, master’s degree or even PhD.
- Personal funds to support yourself while you are in UK. You must have a at least £945 in your bank account for 90 consecutive days before applying for this visa.
- Must be endorsed by an authorized body which is either an UK higher education institution or a business organization with a history of backing up UK entrepreneurs.
UK Startup Visa Documentation Requirements
- An endorsement letter from an approved body of UK.
- An existing passport or other valid travel identification.
- Bank statements which prove that you’ve had a minimum amount £945 in savings in your bank account for a duration of 90 consecutive days prior to which you apply.
- Your tuberculosis test results if you are coming from a country which is undertaking these tests
- Showcase that you have proficiency in English language.
- Also, a certified translation of any document which is not English.
UK Startup Visa Processing Time & Fees
- If you are applying from outside UK you will be required to pay £363 as processing fees, but if you are switching within UK then you will be required to pay £493.
- If you have dependents along with you then you will be required to pay £363 each person, if you are applying from outside UK and if you are applying for dependents within UK itself then you will need to pay £493 each person.
- The earliest you can apply for this visa is three months prior to your travel.
How Can Visa Ray Help You?
With more than 12 years of experience in immigration consultancy, Visa Ray provides required services for all UK StartUp Visa applications.
With a dedicated Business Immigration division supported by a team of dedicated and experienced Immigration Specialists, business associates – specializing in Business & Start-up programs we help aspiring people to help setup their business in the country of their choice. Also, we take pride in processing every application meticulously in accordance to all the related guidelines and norms. Below are our consulting services for UK Startup Visa Program:
- Provide thorough assessment of proposed UK business venture in UK.
- Provide consultancy in areas related to development and preparation of idea pitch-deck including Business plan.
- Guidance on areas of importance in dealing with the identified designated authority and where required dealing with such an agency through an authorized representative.
- Assistance in compiling the Application package, including the preparation and submission of application with appropriate agencies and completing requirements related to UK Startup Visa.
Use the form below to contact us in order to enable us to help you with your UK Startup Visa application process and required guidance.