UK Startup Visa
An individual can apply for a start-up visa if they are new entrepreneurs and want to establish an innovative business in the UK. They do not need to be a graduate or have initial funding.
It is a one-off visa which is valid for 2 years. However, Start-up visa holders can extend their stay by switching to the Innovator visa category and will then qualify for ILR, three years later.
They are eligible to bring their partner and any children under the age of 18 to the UK.
- Are at least 18 years old;
- Have not previously established a business in the UK
- Have been endorsed by a UK-based higher education institution or a business organisation, which is historically known for supporting UK entrepreneurs
- Plan to commence, and are capable of undertaking, any work or business activity in the UK stated in their application
- Are proficient in the English language to at least CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening, and speaking)
- Have at least £1270 to support themself, and £285 for a dependent partner, £315 for a first child and £200 for each additional child.
Requirements & Criteria
INVESTMENT FUNDS REQUIREMENTS
Start-up visa applicants don’t require any capital investment for their business but some endorsement companies need a definite amount of funds as a rule for endorsing
ENDORSEMENT CRITERIA
To get endorsement for a business idea, the endorsement body should be content with the business’ feasibility and sustainability. The endorsement body will have to be satisfied that the individual needs to give most of his to work on growing the business.
TEAM START-UP VISA
If there is a start-up team, each member will have to get his/her own endorsement by an official endorsement body.
START-UP VISA ENDORSEMENT LETTER
If the endorsement gets an approval, one will be given the letter of endorsement which needs to be given as a step of the application for visa.
VALIDITY
2 years
EXTENDING & APPLYING FOR ILR:
- Not-extendable
- Not eligible for settlement.