Start Up Visa UK

Start Up Visa UK

Start Up visa is a successor of Tier 1 visa. This route is for new entrepreneurs who are looking to establish a business in the UK for the first time. Home Secretary announced about Start Up Visa in June 2018 that this new route will expand the applicant pool of talented entrepreneurs. To qualify for the Start Up Visa route, you must be endorsed from an approved endorsing body. This process will also make the visa process faster and smoother for entrepreneurs to come to the UK.

Start Up Visa Requirements

Endorsement and 18 years above age restriction is first things that needs to be checked. Other requirements are:

• Have a minimum level of English Language at least CEFR level B2 in reading, writing, speaking and listening. However, if you are applying within the United Kingdom and have already proved your knowledge of English language to be of level B2 in any earlier successful application, then you are exempt of this requirement. Moreover, if you are a national of English-speaking country then you are exempt of this requirement.
• Be able to maintain yourself while you are in the UK. You need to have at least £945 in your bank account for 90 consecutive days before you apply. (If you are applying from outside the uk, and the maintenance funds are held in another currency. The amount of maintenance funds will be converted using the GBP exchange rate. The Home office relies upon oanda for exchange rates).

Startup Visa Main Features

No initial funding is required & Visa is granted for 2 years. It offers you flexibility of working outside your own business to support yourself. You can bring your dependant family members i.e. spouse (husband/wife) or any children under 18 to the UK.

Eligibility criteria for applying for a Start Up visa

You can apply for a Start-up visa if:

• You want to set up a business in the UK.
• You’re from outside the European Economic Area (EEA) and Switzerland.
• You are at least 18 years old.
• You meet the English language requirement.
• You are able to prove that you have enough personal savings to support yourself while you’re in the UK
• You must get your business idea endorsed by an authorized body that is either a UK higher education institution or a business organization with a history of supporting UK entrepreneurs.

Duration of Start Up Visa

You can stay in the UK for up to 2 years with no extension possible. However, you can extend into Innovator Visa.

Application Process Time

The decision on Start up visa can be made within 3 weeks. You can apply up to 3 months before the intended travel date.

Home Office Application Fee

Applicant applying from outside the United Kingdom must pay £363.00 towards the application fee.

Start-Up Visa Extension

On 24 months endorsement, you must demonstrate enough progress to meet the requirements of UK Innovator Visa.