Start-up visa route, requirements and who it’s for
Start-up visas are great for people who wish to set up a business in the UK, people who are from outside the European Economic Area and Switzerland.
Some of the requirements for this visa include, that you are endorsed by an authorised body which can be a UK higher education institution, or a business organisation who have previously supported UK entrepreneurs. As the visa is a start-up visa, you are only permitted to stay in the UK for 2 years. This cannot be extended, and the individual will have to apply under another category to extend their stay.
Some of the positives of this visa include, being able to bring your family members with you to the UK, being able to switch to this start-up visa from a different visa category and being able to work in another job along with having your business. The only things impermissible are getting public funds, working as a doctor or dentist in training, working as a professional sportsperson or settling in the UK on this visa.
Further requirements include having your business idea assessed and approved by an approved body. Upon this approval, an endorsement letter will be provided if the business is worthwhile, which is fair as it is impractical to have businesses opening left, right and centre without them being workable. Along with this, the applicant must be at least 18 years of age, meet the English Language requirement, prove you have enough personal savings to support yourself whilst being in the UK. This means having at least £945 in your bank account for 90 consecutive days before applying. This is a great visa for those who wish to introduce their business in the UK.