Originally published at: The UK Startup Visa: All You Need To Know | GoVisaFree
If you’re an entrepreneur who wants to start a business in the United Kingdom for the first time, why not consider applying for a UK startup visa? If you’ve always dreamt of living and working in the UK, this might be a great opportunity for you.
In this article, we’ll take you on a journey through the UK startup visa and help you understand how it works.
What Is UK Startup Visa?
The UK Startup visa is for ambitious entrepreneurs who want to start their firm in the United Kingdom. Startup Visa provides a wonderful chance for entrepreneurs to begin their careers in the country by exploring a company idea that will benefit the UK economy as a whole.
The visa is valid for a maximum of two years, after which you’ll be required to apply for a different visa category, such as the Innovator visa, to continue your company and live in the UK.
Startup Visa vs. Innovator Visa
If you’re already familiar with the UK Innovator Visa, you might be wondering how a startup visa is different. The primary differences are the experience and investment funds. Successful applications for a startup Visa are based on an entrepreneur's 'great potential,' rather than their prior expertise. Also, you don’t need to have funds available in your bank account, unlike Innovator Visa. All you need is a lot of passion to start a business in the UK for the first time!
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<h2><span class="ez-toc-section" id="UK_Startup_Visa_Eligibility_and_Requirements"></span><strong>UK Startup Visa Eligibility and Requirements</strong><span class="ez-toc-section-end"></span></h2><p><span style="font-weight: 400;">The main eligibility criteria to be eligible for a startup visa in the UK is getting an endorsement from approved bodies.</span></p><p><span style="font-weight: 400;">An authorized body is either a higher education institution in the UK or a business organization with a history of helping UK entrepreneurs. </span></p> </div>
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<h3 class="gvf-pac-title"><span class="ez-toc-section" id="Youll_also_need_to_demonstrate_that_your_business_concept_meets_the_following_criteria"></span>You’ll also need to demonstrate that your business concept meets the following criteria:<span class="ez-toc-section-end"></span></h3> <ul class="gvf-pac-items">
<li >New - you cannot join an existing company
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<p><span style="font-weight: 400;">The endorsing organization will provide you with a letter that you can include with your visa application. After six, 12, and 24, they will contact you to assess your development concerning your business objectives.</span></p> </div>
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<span class="gvf-alert-content"><h3><span class="ez-toc-section" id="Definition_of_an_Endorsing_Body"></span><strong>Definition of an Endorsing Body</strong><span class="ez-toc-section-end"></span></h3><p><span style="font-weight: 400;">An endorsing body is a government-approved entity that has been accredited to recommend a business. To be able to get a startup visa in the UK an endorsing body should evaluate your business idea and check if it is creative and viable. Incubators, accelerators, government agencies, and business development organizations are examples of endorsing bodies.</span></p></span>
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<h3><span class="ez-toc-section" id="UK_Startup_Visa_Requirements"></span><b>UK Startup Visa Requirements</b><span class="ez-toc-section-end"></span></h3><ul><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">You are at least eighteen years old</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">You haven’t started a business in the UK before (exceptions may apply depending on your previous visa applications)</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">You have been authorized by the UK endorsing body that has evaluated your business idea for innovation, viability, and scalability, and is satisfied that you’ll be committed to growing your business</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Your endorsement letter was sent out no more than three months before the submission of your startup visa application</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">You truly want to engage in any work or business activity in the United Kingdom that you mention in your application, and you are capable of doing so;</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Your English level is at least B2 Level</span></li></ul> </div>
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<p><span style="font-weight: 400;">Citizens of the following countries don’t need to demonstrate their English proficiency:</span></p> </div>
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<li >Australia</li>
<li >The Bahamas
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<li >Malta</li>
<li >New Zealand
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<h3><span class="ez-toc-section" id="Financial_Requirements"></span><b>Financial Requirements</b><span class="ez-toc-section-end"></span></h3><p><span style="font-weight: 400;">When you apply for a UK startup visa, bank statements demonstrating that you have had at least £1,270 in savings in your bank account for 28 days before applying will suffice. For this visa application, no further financial capacity proof is required.</span></p><h2><span class="ez-toc-section" id="UK_Startup_Visa_How_To_Apply"></span><b>UK Startup Visa: How To Apply</b><span class="ez-toc-section-end"></span></h2> </div>
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<h3 class="gvf-accordion-title"><span class="ez-toc-section" id="Check_If_Youre_Eligible"></span>Check If You’re Eligible <span class="ez-toc-section-end"></span></h3> </div>
<div class="gvf-accordion-content" data-content=""><p><span style="font-weight: 400;">Check to see if you match the eligibility requirements before contacting any endorsing body. This stage is critical, and we recommend that you seek professional advice before proceeding to the next phase.</span></p></div> </div>
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<h3 class="gvf-accordion-title"><span class="ez-toc-section" id="Create_Your_Business_Plan"></span>Create Your Business Plan<span class="ez-toc-section-end"></span></h3> </div>
<div class="gvf-accordion-content" data-content=""><p><span style="font-weight: 400;">As we’ve previously stated, your business plan must be a unique one. If you work with experienced advisors, they’ll help you prepare your business plan.</span></p></div> </div>
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<h3 class="gvf-accordion-title"><span class="ez-toc-section" id="Contact_an_Endorsing_Body"></span>Contact an Endorsing Body<span class="ez-toc-section-end"></span></h3> </div>
<div class="gvf-accordion-content" data-content=""><p><span style="font-weight: 400;">It's time to contact an endorsing body if you and your business plan meet the requirements. At your initial meeting with the endorsing body, you can submit your business plan and strategy. </span></p></div> </div>
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<h3 class="gvf-accordion-title"><span class="ez-toc-section" id="Get_Approval"></span>Get Approval <span class="ez-toc-section-end"></span></h3> </div>
<div class="gvf-accordion-content" data-content=""><p><span style="font-weight: 400;">If the endorsing body is convinced that your business plan will succeed, they’ll approve it. You can move on to the next step after you receive your endorsement letter.</span></p></div> </div>
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<h3 class="gvf-accordion-title"><span class="ez-toc-section" id="Start_Your_Visa_Application"></span>Start Your Visa Application<span class="ez-toc-section-end"></span></h3> </div>
<div class="gvf-accordion-content" data-content=""><p><span style="font-weight: 400;">If you're applying from outside the UK, you'll need to visit the Home Office's official website to apply for a UK Startup Visa. You'll need to submit your documents and confirm your identity at this point. Depending on the sort of passport you have, your biometric data will be collected at a visa application center or via the UK Immigration ID Check app.</span></p></div> </div>
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<h3><span class="ez-toc-section" id="Visa_Approval"></span><b>Visa Approval</b><span class="ez-toc-section-end"></span></h3><p><span style="font-weight: 400;">After you’ve applied online, verified your identification, and submitted your documents, you should get a response within three weeks. If your application takes longer than expected, you will be notified, for example: </span></p><ul><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">If you’re applying with a family member who needs an appointment but you don’t;</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">If your supporting documents must be validated; </span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Or if you must attend an interview due to personal circumstances, such as a criminal conviction.</span></li></ul> </div>
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<span class="gvf-alert-content"><p><b>Remember:</b></p><p><span style="font-weight: 400;">You’ll need to stay in touch with your endorsing body while you’re staying and working in the UK under a startup visa. This happens through checkpoints at certain times. At these checkpoints, your endorsing body, will assess your progress and see if it’s in alignment with your business plan.</span></p></span>
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<h3><span class="ez-toc-section" id="Validity_of_UK_Startup_Visa"></span><b>Validity of UK Startup Visa</b><span class="ez-toc-section-end"></span></h3><p><span style="font-weight: 400;">UK Startup Visa is valid for two years. It can’t be extended but, at the end of the two-year visa term, if you qualify, you can apply to switch to the UK Innovator Visa.</span></p><h3><span class="ez-toc-section" id="Eligible_Family_Members"></span><b>Eligible Family Members</b><span class="ez-toc-section-end"></span></h3><p><span style="font-weight: 400;">As your dependents, your partner, and children under the age of 18 are welcome to accompany or join you.</span></p><p><span style="font-weight: 400;">While in the UK, your partner and children must each have a set amount of money to sustain themselves.</span></p><p><span style="font-weight: 400;">You – or your partner or child – will require the following in addition to the £1,270 you must have to support yourself:</span></p><ul><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">£285 for your partner</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">£315 for one child</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">£200 for each additional child</span></li></ul><h2><span class="ez-toc-section" id="Fees"></span><strong>Fees</strong><span class="ez-toc-section-end"></span></h2><p><span style="font-weight: 400;">The cost of a startup visa varies depending on your circumstances and where you apply.</span></p> </div>
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<tr class="table-body"><td >Initial Application processing fee</td><td ><span style="font-weight: 700;">€532.70</span> for the main applicant<br><span style="font-weight: 700;">€83.10</span> for each dependant applicant</td></tr><tr class="table-body"><td >Initial Application approval fee</td><td ><span style="font-weight: 700;">€532.70</span> for the main applicant<br><span style="font-weight: 700;">€83.10</span> for each dependant applicant</td></tr><tr class="table-body"><td >Initial Application processing fee</td><td ><span style="font-weight: 700;">€532.70</span> for the main applicant<br><span style="font-weight: 700;">€83.10</span> for each dependant applicant</td></tr><tr class="table-body"><td >Initial Application approval fee</td><td ><span style="font-weight: 700;">€532.70</span> for the main applicant<br><span style="font-weight: 700;">€83.10</span> for each dependant applicant</td></tr><tr class="table-body"></tr>
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