Business Visa UK 2024: A Guide

The UK is one of the best places in the world to start and run a successful business. However, finding the right visa to establish a commercial presence or set up operations in the UK can be difficult: the UK’s Immigration Rules can be complex and the criteria strict.

In this guide for overseas investors and entrepreneurs, we’ll set out the various visas to start a business in the UK.

For specific advice on your circumstances, contact our UK business immigration experts. We can assess your options and provide guidance on the visa application and related requirements to make your UK-based ambitions a reality.

 

Innovator Founder Visa

 

The Innovator Founder visa is for entrepreneurs to establish innovative, scalable, and viable businesses in the UK. It replaced the Tier 1 (Entrepreneur) Visa and removed the minimum investment requirement, focusing instead on the business’s innovation and growth potential. Applicants must present a unique business idea that meets an unfulfilled market need and gain endorsement from a Home Office-approved body.

Eligibility for the Innovator Founder Visa centres on the applicant’s ability to secure an endorsement from an approved body. Endorsements require meeting criteria that confirm the applicant is a “fit and proper” individual to operate in the UK, has no questionable financial sources, and that the proposed business aligns with the necessary standards of innovation, viability, and scalability.

Applicants must score 70 points, with 50 allocated for the business proposition and the remaining 20 divided equally between the English language proficiency and financial maintenance requirements.

The application is split into two categories based on the business’s stage:

 

a. New Business: For applicants presenting a new business idea requiring endorsement.

 

b. Same Business: For entrepreneurs previously endorsed under the Start-up or Innovator Visa categories, who wish to continue developing their existing business.

 

Requirements for Endorsement of New and Existing Businesses

 

To obtain an endorsement for a new business, the applicant must demonstrate that they are the founder or a significant contributor to the business idea, plan to actively manage the business, and agree to periodic check-in meetings with the endorsing body. The business itself must exhibit clear market demand, originality, realistic goals, and a growth strategy supporting job creation and national or international expansion.

For those continuing an existing business, the requirements include active company registration at Companies House, evidence of business growth according to the original plan, and the applicant’s active involvement in daily operations. This pathway also requires the applicant to attend a minimum of two check-in meetings with the endorsing body to confirm continued engagement and progress.

The applicant must demonstrate English language proficiency at B2 level and meet financial maintenance requirements. For those already in the UK for 12 months or more, no proof of funds is required. If applying from abroad or with less than 12 months’ UK residence, they must show a minimum of £1,270 in savings.

 

Self-Sponsorship Via Skilled Worker Visa

 

For entrepreneurs focused on establishing themselves in a business or who already have a stable company in the UK, the Skilled Worker Visa for self-sponsorship may be a suitable alternative. This strategy allows business owners to set up their business in the UK, register it as a licensed sponsor, and sponsor their own employment within the company. Unlike the Innovator Founder Visa, this route does not demand a unique business idea, making it more accessible to those with standard business models.

 

Self-Sponsorship Process for the Skilled Worker Visa

 

Applicants must establish a legally compliant business in the UK. They must register it with Companies House, choose a business structure (often a private limited company), and open a UK business bank account to handle company finances.

The company must apply for a sponsor licence, which allows it to assign Certificates of Sponsorship (CoS) to employees. This process includes demonstrating the business’s legitimacy, capacity to employ sponsored workers, and compliance with employment laws. The Home Office assesses each business’s ability to uphold its duties as a sponsor.

Once the company is licensed, it can sponsor the business owner for a Skilled Worker Visa. The application involves submitting a Certificate of Sponsorship, proving financial stability, and demonstrating English proficiency at a B1 level.

 

Skilled Worker Visa Requirements

This route requires that applicants meet the minimum salary and job role qualifications. The visa is granted for up to five years and is renewable, allowing holders to pursue ILR after five years. Additionally, applicants can bring their dependents to the UK, who may work or study.

 

The Global Talent Visa

 

The Global Talent Visa targets individuals recognised as leaders or potential leaders in specific fields, including science, engineering, technology, the arts, and humanities. It offers broad flexibility for talented individuals, allowing them to establish a business, take employment, or even work in different roles without restriction. This visa does not require a specific business proposal or minimum investment, making it an attractive option for those with exceptional qualifications in their field.

Applicants must secure an endorsement from a recognised body within their discipline. This may involve demonstrating significant contributions to the field or a high earning potential. Approved endorsing bodies include Tech Nation for digital technology, the Arts Council England for cultural roles, and the Royal Society for science and engineering.

 

UK Expansion Worker Visa

 

The UK Expansion Worker visa is specifically tailored for foreign businesses that have been active and trading overseas for at least three years and now seek to establish a physical presence in the UK. It allows businesses to send a senior employee or business owner to the UK to set up the company’s first UK entity. Unlike other visa options, the Expansion Worker Visa focuses on companies with established operations outside the UK, rather than entrepreneurs launching new ventures. As such, the UK Expansion Worker Visa offers a route for international companies wanting to expand into the UK market.

To qualify, the business must first apply for and secure a UK Expansion Worker sponsor licence, allowing it to assign Certificates of Sponsorship (CoS) for its chosen expansion workers. The business must be actively trading outside the UK and demonstrate that it has been established for at least three years. The business cannot already have a substantial UK presence, as this visa is intended solely for businesses establishing their first UK branch or subsidiary.

Once the sponsor licence is granted, the overseas business can assign a CoS to the employee who will come to the UK to manage the expansion.

The UK Expansion Worker Visa allows the holder to work in the UK for up to 12 months initially, with the possibility of extension to a maximum of two years.

 

Transitioning from the UK Expansion Worker Visa to a Skilled Worker Sponsor Licence

 

The UK Expansion Worker Visa is a temporary solution meant to support the initial setup of a UK business entity. After the licence’s four-year validity, businesses looking to retain a long-term presence in the UK must transition to a Skilled Worker sponsor licence. This transition allows the business to hire additional employees and continue expanding within the UK.

If the business has achieved a stable and sustainable operation in the UK, it can sponsor further employees under the Skilled Worker Visa route, enabling it to grow beyond the initial Expansion Worker restrictions.

 

Choosing the Right Visa for Your Business Goals

 

The UK provides multiple pathways for foreign entrepreneurs, each catering to different circumstances and business types.

 

The Innovator Founder visa is best suited for entrepreneurs with innovative, scalable business ideas seeking to introduce new products or services to the UK market. Its lack of a minimum investment requirement and direct pathway to ILR within three years make it ideal for entrepreneurs with unique ventures.

For business owners focused on operating a business rather than launching an innovative startup, the Skilled Worker Visa under self-sponsorship provides a viable option. While it does not require endorsement, it demands meeting specific job role criteria. This route is especially useful for business owners who wish to self-sponsor and bring their company’s expertise to the UK.

For entrepreneurs who are recognised leaders or promising figures in their field, the Global Talent Visa provides maximum flexibility and independence. Ideal for those in creative or scientific disciplines, this visa offers unrestricted work rights and a clear path to settlement after five years.

 

Global Talent Visa

 

The Global Talent Visa is for individuals recognised as leaders or potential leaders in specific fields, including science, engineering, technology, the arts, and humanities. It offers broad flexibility for talented individuals, allowing them to start a business, work for themselves or to take up employment, or even work in different roles without restriction – provided they are working in their professional field. This visa does not require a specific business proposal or minimum investment, making it an attractive option for those with exceptional qualifications in their field.

Applicants must secure an endorsement from a recognised body within their discipline. This may involve demonstrating significant contributions to the field or a high earning potential. Approved endorsing bodies include Tech Nation for digital technology, the Arts Council England for cultural roles, and the Royal Society for science and engineering.

 

Need Assistance?

 

If you’re an overseas business owner, investor or entrepreneur looking to start a business or establish a commercial presence in the UK, you should always seek expert advice from an immigration specialist. It’s important to explore all available options before applying for a visa, ensuring that you meet each of the strict eligibility requirements and can provide the necessary documentation in support. In this way, your legal advisor can help you to navigate the application process, leaving you with more time to focus on planning and preparing for your new UK business venture.

DavidsonMorris are experienced UK immigration specialists offering guidance and support to individuals planning to open up a UK-based enterprise or business operations. We advise on the visa options open to you and your dependants, based on your needs and circumstances, and will guide you through the application process.  For specialist UK immigration advice, contact us.

 

UK Visa to Start a Business FAQs

 

What types of visas are available for starting a business in the UK?

Several visa options allow foreign nationals to start a business in the UK, including the Innovator Founder Visa, Self Sponsorship under the Skilled Worker visa, the UK Expansion Worker visa and the Global Talent Visa. Each visa has distinct eligibility criteria, so choosing the one that best suits your business goals and circumstances is essential.

 

What is the Innovator Founder Visa, and who is it for?

The Innovator Founder Visa is intended for experienced entrepreneurs with an innovative business idea that brings something new to the UK market. Applicants need a viable business plan and must secure endorsement from an approved endorsing body in the UK.

 

Can I switch to a business visa if I am already in the UK?

In some cases, you can switch to a business visa from certain other UK visas. However, not all visas are eligible for switching, so it’s essential to check specific requirements or consult with immigration advisers for detailed guidance.

 

Do I need a specific amount of investment to qualify?

For the Innovator Founder Visa, while there is no longer a strict investment minimum, applicants must demonstrate that they have sufficient resources to fund and develop their business in the UK.

 

Is a business plan necessary for these visas?

The Innovator Founder visa requires a detailed business plan both for your endorsement and visa application. Your business plan should outline the uniqueness, viability, and growth potential of your business idea, as this is key for obtaining endorsement from an authorised body.

 

Can I bring my family to the UK on a business visa?

Innovator Founder and Skilled Worker visa holders can bring eligible dependants, including spouses, partners, and children under 18. Dependants may also have rights to work and study in the UK. Expansion Worker visa holders however cannot.

 

How long does it take to get a decision on a business visa application?

The decision time varies but is generally between 3 to 8 weeks, depending on whether you apply from within or outside the UK. Processing times may also vary based on the visa type and the applicant’s specific circumstances.

 

Glossary

 

Term	Definition
Innovator Founder Visa	A visa designed for experienced entrepreneurs with an innovative business idea that is viable, scalable, and unique in the UK market.
Start-up Visa	A visa aimed at new entrepreneurs with a high-potential business idea, suitable for those starting their first UK business.
Global Talent Visa	A visa for individuals recognised as leaders or emerging leaders in specific sectors like technology, science, or the arts, allowing for entrepreneurial work.
Endorsement	Approval from a Home Office-authorised body for the Innovator Founder visa.
UKVI (UK Visas and Immigration)	The government body responsible for managing immigration, including visa applications, enforcement, and other immigration services.
Viability	The potential for a business idea to be successful and sustainable within the UK market.
Scalability	The ability of a business to grow and expand its operations and market reach.
Investment Requirement	The funds necessary to launch and develop a business in the UK, which vary depending on the visa type and individual business needs.
Dependants	Family members, such as a spouse, partner, and children under 18, who may accompany a visa holder to the UK under specific conditions.
Business Plan	A comprehensive document outlining the business idea, target market, financial projections, and strategic approach, essential for visa endorsements.
Endorsing Body	An organisation approved by the Home Office to assess and endorse business ideas for visa applications, such as for the Innovator Founder Visa.
Processing Time	The period required for a visa application decision, usually between 3 to 8 weeks depending on application specifics.
Right to Work	Legal permission for an individual to work in the UK, established through visa status and checked by employers.
Immigration Permission	Authorisation granted by UKVI for a foreign national to enter, reside, and work in the UK under specific conditions.
UKVI Account	An online account through UK Visas and Immigration where individuals manage digital immigration status and generate share codes for verification purposes.