Immigration consultant's notes. How to move to the UK with own Startup.

If we rely on experts in the field of startups, the UK takes 5th place in the top ten Startup - friendly countries in the world, after Japan, Germany, the USA and Switzerland.

It is an indisputable fact that the UK is the birthplace of world-class universities and one of the world centers of attraction for talented businessmen and investors. It is no coincidence that 7 out of 10 leading European venture capital funds are located here. And it was the UK where 37% of all European startups took roots (whose value exceeds $ 1 billion).

It remains only to answer one question: what is necessary for the UK to open its doors to the founder of another innovative project?

After the Tier 1 program has been abolished, the most acceptable option is to get a Startup visa.

The applicant can apply for a Startup visa if:

• there is a desire to create a business in the UK,
• business idea has been approved (authorized) by an authorized agency,
• the candidate is 18 years old at the time of application,
• English level corresponds to B2,
• the necessary financial support is available for both the candidate and dependent members of his family.

For authorization, the applicant must prove that his idea is:

• new
• innovative, original
• viable
• with potential for growth.

It is no secret that the agencies responsible for authorization always carefully consider (evaluate) the proposed projects, using their own criteria. Moreover, if the agency gives approval to the project, then it must also support it in the implementation process, controlling (from the point of view of the immigration authorities) business development.

Authorized agencies have the right to revoke authorization at any time and thereby initiate the process of canceling an already issued visa.

Consideration of documents for a Startup visa is fleeting (by immigration standards) and takes about 3 months.

A visa is issued for a period of 2 years and does not allow to obtain the status of permanent residence. For permanent residence it is necessary to convert Startup into Innovator visa, valid for another 3 years, after which permanent residence status becomes attainable. A distinctive requirement of Innovator is that the applicant must demonstrate an amount of at least £ 50,000 invested in his own existing project.

In connection with Brexit, Foggy Albion authorities plan to radically change the approach to assessing applicants for long-term visas to the UK. The new system should work in 2021. However, there is hope that the Startup and Innovator visas will continue and will not undergo major changes.

For all questions of organizing Startup projects in the UK and obtaining the relevant permits, please contact our specialists.