The United Kingdom’s robust economy, welcoming environment for entrepreneurs, and ease of doing business make it an excellent place to start a new company. The sky is the limit when it comes to choosing the type of business to set up in the UK. Whether you are looking to start a small business or invest in a larger venture, the potential for commercial success is enormous. Some of the business opportunities in the UK include:
Tech startups: the United Kingdom has over the years been known for its innovation in science and technology, especially in places like London, Manchester and Edinburgh. Tech startups in areas such as fintech, artificial intelligence, and cybersecurity are booming. Indeed, London is now considered to be Europe’s biggest hub for generative artificial intelligence (genAI), with around one-third of Europe’s new startups in this rapidly emerging field. London has also been voted the most supportive hub for AI development.
Retail businesses: The UK’s retail sector offers great opportunities for immigrants. Whether you are interested in opening a local grocery store, a specialist shop, or an online retail business, there is almost limitless potential for success.
Franchising: Franchising offers an excellent way for immigrants to enter the UK business market without taking on considerable risk. The UK has a wide range of franchises on offer, from food establishments such as Subway and Costa Coffee to gardening businesses such as Green Thumb and car repairers such as ChipsAway.
Other enticing business, evolving and lucrative ventures in the UK are: Real estate investment, Healthcare Services, Food and Beverage Industry, Education and Training Services, Creative sector, Renewable energy and E-commerce.
As a business person with plans to start a new venture in the UK, it is important to understand the immigration routes available to you and your family. Again you might need to apply for a UK Business Visitor Visa which is a subcategory of the Standard Visitor Visa.
Business visa Eligibility Condition
Foreigners who are not citizens of countries on visa exemption list with the UK are eligible for a visitors Business visa to the UK if they meet the eligibility condition below:
- Have a valid travel document or passport. It should be valid for the entire duration of your stay in the UK.
- Provide proof you are traveling for business. This could be, for example, an invitation from a company, organization, or other institution in the UK to attend a business meeting, conference or other business-related activity.
- Provide proof you intend to leave the UK at the end of your visit, such as a return ticket.
- Show that you are able to support yourself during your trip, or, that you have funding from someone else to support you (i.e. your employer or hosting company/organization).
Requirement
After ascertaining your eligibility condition international business men and women must submit the following as they make their application:
- Valid passport or other valid travel documents
- Evidence of what you will be doing while in the UK, e.g., documents that confirm your meetings, business-related appointments, activities, etc.
- Proof that you have the sufficient means to support yourself during your intended stay. This could include your bank statements
- Proof of your employment. A letter of employment from your employer or your work contract, which states your position and salary.
- Proof of your business, if you are self-employed, such as a business certificate.
- Evidence that you will leave the UK at the end of your visit, such as a return-flight ticket.
- Evidence that you can pay for your onward and return ticket.
How to Do the Application.
To apply for a business visa in the UK, follow these steps:
- Choose the appropriate visa type based on your business activities, such as the Innovator Founder
Visa , Self-Sponsorship visa route, or Global Talent Visa. If you are unsure, our team can guide you on the best route to take. - Complete the online application form on the UK government’s official visa and immigration website.
- Pay the visa fee and healthcare surcharge.
- Submit required documents, including a business plan, financial statements and proof of industry experience.
- Attend an appointment at a visa application centre to provide biometric information (fingerprints
and photograph).
Processing Time
The processing time for UK business visas varies depending on the visa type and the applicant’s circumstances. While the visitor visas typically take around 3 weeks. Business visas like the Global Talent Visa, Self-Sponsorship route, or the Innovator Founder Visa, may take longer often up to 8 weeks due to the need for thorough assessment of business proposals and endorsements
Validity
Validity of a UK business visa depends on the type for instance :
- Standard Visitor Visa: Allows stays of up to 6 months per visit.
- Global Talent Visa: Granted for up to 5 years, with the possibility of extension and permanent settlement
- Innovator Founder Visa: Typically allows a stay of 3 years, with the possibility of extension and settlement
- Self-Sponsorship Visa: Allows you to establish and run your business in the UK, issued either for 3 years or less or 5 years or less, with the possibility of extension and settlement
- High Potential Individual Visa: Generally, allows a stay of 2 years, if you have a PhD or other doctoral qualification, it will last for 3 years. with no extension but the possibility of switching to a different visa category for a further stay.
Cost Of Getting A UK Business Visa.
The cost of getting a UK business depends on the type of the visa as follows:
- UK visitor’s visa valid for six months $100
- Long-term Standard Visitor Visa (with a validity of up to 2 years) $ 376
- Long-term Standard Visitor Visa (with a validity of up to 5 years) $ 670
- Long term standard Visa (with validity period of up to 10 years) $876