The UK is the hub for venture holders and investors searching for growth opportunities because of its central location, strong economy, and worldwide connectivity. To set up a business or invest in the country, first, you need to understand the visa’s options, which play an important role in the journey of the visa. Two visa routes have gained attention: the business visa of UK and the investor visa. Additionally, the self-sponsorship visa route has been popular due to its flexibility and practical way for entrepreneurs. In this article, you will learn about the differences between these visas and also emphasise why
Understanding the Business Visa of UK
The term UK business visa’ is frequently used to describe visa categories that allow foreigners to set up, run, or manage businesses in the UK. One of the most popular visas in this category is the Innovator Founder Visa, which has replaced the Innovator Visa.
Key Features of the Business Visa of the UK:
- Eligibility Requirements: Applicants must submit a real, practical, and innovative business idea supported by an official UK endorsing body.
- Investment Amount: The business must show expansion prospects and innovation, as there is no specific minimum investment requirement.
- Duration and Extensions: The time duration of this visa is up to three years and extendable with options to apply for Indefinite Leave to Remain (ILR).
- Restrictions: Applicants must work solely for their business venture and cannot engage in other employment.
The Business Visa of UK is suitable for entrepreneurs with uncommon and futuristic ideas for businesses that can contribute to the UK economy.
Understanding the UK Investor Visa
The Investor visa (Tier 1) was previously famous due to the high net worth of individuals. In 2022, this route is not in process, as the UK government closed it due to various concerns over the security and transparency of the nation.
Previously, individuals invested big sums of money into UK businesses as allowed by the Investor Visa, which later gains residency also. Since its cessation, wealthy individuals now need to find other routes, like the Skilled Worker route or other business-related visas.
The Self-Sponsorship Visa: A Game-Changing Pathway
The self-sponsorship visa has gained attention as an option that is innovative and also comes under the skilled worker visa framework. This route is suitable for people who want to have full power over their business while meeting the prerequisite of the Skilled Worker Visa.
How Does the Self-Sponsorship Visa Work?
To obtain a self-sponsored visa, you must follow a well-defined process, which also involves some steps. Firstly, you need to set up a UK-based company and make sure you fulfil all the legal registration processes. The company acts as a backbone for the visa application.
You need to acquire a sponsor licence from the UK Home Office once your business is functional and in service. The licence enables your company the ability to sponsor skilled workers—including you. The sponsor licence application involves showing that your business is credible, has a valid need for skilled employees, and can meet legal sponsorship responsibilities.
You must create a job position in a company that qualifies as skilled under UK immigration rules after attaining the sponsor licence. Thus, the job must meet specific criteria laid down by the Home Office, which requires some skills and salary thresholds. You can sponsor yourself for the same role as a founder of the company and may apply for a Skilled Worker Visa.
This is the route which permits entrepreneurs to lawfully work on their own businesses while assisting the UK economy and
This pathway provides entrepreneurs with the opportunity to legally work for their own businesses while contributing to the UK economy and maintaining compliance with immigration laws.
Key Differences Between Business Visa of UK and Self-Sponsorship Visa
Both visas offer different options for entrepreneurs to take care of the needs and circumstances of different individuals. The business visa of UK is suitable for those with creative business ideas and requires support from an official body and evidence of a robust and scalable business. It is suitable for launching revolutionary ventures.
In contrast, the Self-Sponsorship Visa Route is ideal for entrepreneurs who want to start traditional businesses, and this endorsement is not required. Entrepreneurs with the self-sponsorship visa can focus on setting up their business, obtain a sponsorship licence and create a job for themselves. Unlike the business visa of UK, there is no minimum amount of investment required, which offers more freedom to entrepreneurs and greater freedom of choice in their business decisions.
Why A Y & J Solicitors for the Self-Sponsorship Route?
Our experts are highly regarded for their notable success rate record of the self-sponsorship visa route. To direct the complex process and help entrepreneurs capably set up their businesses in the UK.
What Makes us Stand Out?
- Specialisation: The team is known to be the source of successful self-sponsorship visa cases.
- Success Rate: Clients are highly impressed by the success rate.
- Tailored Solutions: We offer tailored advice based on the needs of your business and immigration goals.
- Comprehensive Legal Support: From registering your business to obtaining a sponsor licence and managing visa applications, we offer complete guidance and support.
Steps to Avail the Self-Sponsorship Visa Initial Consultation: To assess your eligibility and business plan, you need to schedule a consultation with the experts.
- Company Formation: Get support from expert guidance to register your company or business to initiate your business in the UK.
- Sponsor Licence Application: Guidance on each step will be provided on obtaining a sponsor licence from the Home Office.
- Visa Application: Our experts will guide you in each step from preparing and submitting the Skilled Worker Visa application.
- Post-Visa Support: Our experts will coordinate with you on all immigration laws, and entrepreneurs can get expert advice online from us.
Conclusion
The final thoughts of individuals are respected and understood, but at least talk once before taking any step ahead in attaining the business visa of UK from any path. As entrepreneurs, you will get many opportunities for innovative startups. The self-sponsorship visa route is flexible and controllable in operations. Trust us; we will guide your entrepreneurial journey like ours. Contact us today!
