Start Up Visa
The start-up visa is aimed at new entrepreneurs starting their first UK business and has no requirements for initial capital investment. To qualify applicants must obtain an endorsement from an approved body confirming that their business is innovative, viable and scalable. Applicant upon successful application are granted 2 years leave to remain.
What are the requirements of a start-up visa?
Innovation: The applicant must have a genuine, original business plan that is in line with new or existing market needs and/or has a competitive advantage.
Viability:The applicant is actively developing or already has the required skills, knowledge, experience and market awareness to run their business successfully.
Scalability: There needs to be evidence of structured planning and of job creation prospects as well as potential to grow into national markets.
The eligibility criteria for a start-up visa?
be at least 18 years old;
must not have previously set up a business in the UK;
be endorsed by an authorised body – this can be either from a UK higher education institution or a business organisation who has previously supported UK entrepreneurs;
provide an endorsement letter issued by the endorsing body;
have a sufficient amount of personal savings to support yourself while you are in the UK;
meet the English language requirement of at least CEFR Level B2 in reading, writing, speaking and listening. There are two exceptions which may apply, depending on your specific circumstances.