UK Residency

UNITED KINGDOM PERMANENT RESIDENCY:

• The Innovator visa category is for experienced businesspersons seeking to establish a business in the UK. In most cases, you will need to have access to at least £50,000 (65,523 USD) to invest in your business (or have already invested £50,000 in your business), but certain exceptions apply. You can start a business or numerous firms with an Innovator visa. Working for your company entails being a director or being self-employed as a member of a business partnership. If your partner and children are qualified, you may bring them with you as dependents.

• The UK Start up visa is for entrepreneurs who are looking to establish a new business for the first time. To apply for a startup visa, you will require an endorsement letter from one of the home offices approved endorsing bodies. A Start up visa is valid for 2 years and the category does not lead directly to settlement in the UK.
• You do not need to be the sole founder of your business and maybe a member of a Start-up team. This means that you may share the same business idea and plan as another Start-up team member. However, each applicant must receive their own individual endorsement from an approved endorsing body.
• As a start-up visa applicant, you do not need any funds to invest in your business. However, the requirement to have a ‘viable’ and ‘scalable’ business idea means that, in practice, you may need to have funds available to invest. Some endorsing bodies require a certain level of funding as a condition of endorsement.

• The new Scale Up visa system aims to encourage innovation by streamlining the process for ‘Scale Up’ businesses to bring those who are “very highly skilled” and “academically elite” to the UK. Scale Up businesses are those who are deemed to be fast growing, fulfilling the following requirements:
• an annual average revenue or employment growth rate over a three-year period greater than 20%; and
• A minimum of 10 employees at the start of the three-year period.

• Low investment amount i.e., £50,000.
• Live in the UK with your family for 3 years.
• Get Visa extension for 3 years.
• Access UK healthcare and education benefits.
• Easy and quick processing.

• You can set up a business or several businesses.
• You can work for your business - this includes being employed as a director, or self-employed as a member of a business partnership.
• Bring your partner and children with you as your ‘dependents’, if they’re eligible.
• Travel abroad and return to the UK.
• Apply to settle permanently in the UK (also known as ‘indefinite leave to remain’) if you’ve lived in the UK for 3 years and meet the other eligibility requirements.

• Its exemption from the Immigration Skills Charge.
• No sponsorship is needed to acquire one; only a job offer is required.
• The visa is extendable.
• Dependent partners/spouses and dependent children are able to apply to accompany or join a Scale-up Worker in the UK, if they are eligible.
• A “fast-track” route for eligible employers and employees than the Skilled Worker visa.
• Short period of sponsorship.
• Reduces costs.
• People on a Scale-up visa will be able to change jobs and employers.
• Although talents need to work for the sponsor for at least 6 months, they can also work in another job at the same time and after their sponsored role ends, including self-employment.
• People who meet the requirements may apply for citizenship once they have held indefinite leave to remain for five years.