The UK Start-up
Visa was launched by the Government earlier this year. It is a new immigration
pathway for people who wish to set up a business in the UK.
The UK Start-up Visa has
been launched with another Visa the UK
Innovator Visa. These are the first set of fresh immigration pathways. They
will replace the immigration pathways under the existing Points Based Immigration System over the next few years.
Who can apply for the UK Start-up Visa?
Individuals from
outside the EEA can apply for the UK Start-up Visa if they intend to launch a
business in the UK. Nevertheless, they must first be approved by an authorized
agency.
The list of
endorsing agencies has been announced by the Home Office. These comprise of some business organizations and
higher education institutions in the UK. They have been known to support
Entrepreneurs in the UK.
How does the UK Start-up Visa work?
The applicants
who are successful are permitted to remain in the UK for 2 years. It is not
permitted to extend the UK Start-up Visa beyond 2 years. The time spent by an
individual on the Graduate Entrepreneur Tier 1 Visa will also be counted for
the calculation of 2 years.
This Visa does
not lead to ILR - Indefinite Leave to
Remain in the UK. Nevertheless, it is possible to transition to the
Innovator Visa from the Start-up Visa after one qualifies for it. The Innovator
Visa does have a pathway for ILR.
Some benefits of the UK Start-up Visa
Dependants or
Family members can accompany the main applicant on the UK Start-up Visa. Children below 18 years, Partner and Spouse
can be included as Dependants.
The applicant
will also be permitted to be employed in
another occupation and in the Start-up business. The huge advantage of this
Visa is that investment requirements are not present. The involvement of a UK
employer is also not required, as quoted by the South African.
The main applicant has only one financial requirement. This is to prove that they possess adequate personal cash for supporting themselves while staying in the UK. It is having a minimum of 945 Pounds in their bank account for 3 months prior to applying for the UK Start-up Visa.
Y-Axis offers a
wide range of Visa and Immigration services as well as products to overseas
immigrants including UK Tier
1 Entrepreneur Visa, Business
Visa for the UK, Study Visa
for the UK, Visit Visa
for the UK, and Work Visa
for the UK.
If you are
looking to Study,
Work, Visit, Invest or Migrate
to the UK, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.If
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