Business Immigration To The UK: Work Permit Options For Entrepreneurs
Are you a new entrepreneur with a vision to establish a business in the UK for the first time? You're not alone; many entrepreneurs like you are drawn to the UK's vibrant market. Business immigration opens the door to these opportunities.
With our expertise, we’ll guide you through the complex process of choosing the best immigration route, ensuring it's suitable for your preferences and business needs.
In this blog post, we’ll discover the importance of work permits, all the different business immigration routes, and work permit options. So, let's dive in.
Importance Of Work Permits for Entrepreneurs:
Work permits can never be taken lightly, especially for entrepreneurs wanting to establish a business in the UK. These permits ensure legal operation and permit access to the global market. The working permit helps business owners grow their businesses and interact with the key players within the United Kingdom’s innovative environment through access to talented employees, investments, and other business networking opportunities. These permits are crucial for the UK economy owing to the ability of license to introduce any latest ideas, jobs, concepts, and international partnerships.
Thus, acquiring the proper work visa sometimes signifies a first move toward market expansion for self-made-driven visionaries of global enterprises by utilizing the UK as a base for their operation.
Work Permit Options For Entrepreneurs
UK Start-up Visa and Innovator Visa
As suggested by its name, start-up visas are for new yet high-potential entrepreneurs seeking to start a business in the UK for the first time. Anyone above 18 years old with a fresh idea of settling business in the UK is eligible for this visa. One benefit of this startup UK business visa is that you may bring your legal spouse and children under 18 to the UK. But, because the validity is only two years, this visa does not lead to settlement. However, you may extend your stay in the UK under the innovator visa and qualify for ILR after three years.
An innovator visa applies to experienced entrepreneurs who introduce any product or service and are ready to invest up to £50,000 to flourish their business in the UK. This visa is valid for three years and can be extended more than three times.
Global Talent Visa
Anyone who is a leader or a potential leader in any field related to academics, research, arts, culture, and digital technology is eligible to apply for the global talent visa. But before you apply for the visa, you must apply for an endorsement to prove that you are a leader or a potential leader. You may get a free pass from applying for the endorsement if you have won any academic or research award to showcase that you are a potential leader. The validity of this visa is five years, and it can easily be extended to more than five years.
Skilled Worker Visa
The skilled worker visa is a self-sponsorship visa, meaning you must have an established and actively running company in the UK to qualify. Your company must sponsor you, however they must hold a Sponsor Licence. Once you get approved for that, you can get the skilled worker visa. The validity is five years before it expires. After spending five years, you may be eligible to apply for permanent residence in the UK and get your legal spouse and children to the UK.
Graduate Visa
Once you’ve completed your university in the UK, you can apply for a graduate visa valid for up to 2 years. However, if you have PhD or Doctorate, the validity is up to 3 years. You must be present in the UK when applying for the visa. You can extend your visa. However, you may have to apply for a different visa, such as a Skilled Worker Visa. The total cost of applying for the visa comprises an £822 application fee and the healthcare surcharge - this is usually £1,035 for each year you’ll be in the UK.
High Potential Visa
The high-potential Visa also allows you to stay in the UK for two years, but only if you have a PhD or a doctoral qualification; it will last for three years. An eligible university must have awarded you a qualification in the last five years. Still, it can not be from a UK university, and you must show £1,270 in your account to showcase that you can support yourself in the UK. Along with that, you must also pay the application fee of £822, as well as the healthcare surcharge.
Final Thoughts
In conclusion, navigating business immigration to the UK as an entrepreneur can be complex. However, with the right knowledge and understanding of available work permit options, aspiring business owners can succeed in the UK business landscape.
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