UK Investor Visa for Entrepreneurs

Hello! Do you have a great idea for a new business? Do you want to build your company in the United Kingdom? The UK is a wonderful place to start a business. It has good rules, helpful banks, and many clever people. To do this, many business people from other countries need a special paper. This paper is called a UK investor visa for entrepreneurs. This article will talk all about this special visa. We will learn what it is, who can get it, and how to apply. Think of this as your friendly post to the UK investor visa for entrepreneurs. It will help you understand each step of the way.

This visa is for people who want to invest money. You put your money into a new UK business or an existing UK business. The government likes this because it makes new jobs and helps the UK economy grow. It is a win for you and a win for the UK! But getting this visa can be tricky. There are many rules to follow. Do not worry. We will explain everything in a simple way.

What is the UK Investor Visa for Entrepreneurs?

The UK investor visa for entrepreneurs is not its official name anymore. The rules changed a little bit. But people still use this name to talk about the new visa. The new visa is called the Innovator Founder visa. It is for experienced business people. You must have a new, different, and exciting business idea. The idea must be something that has not been done before in the same way. The government wants to see that your business will grow and be successful.

This visa lets you come to the UK to start your business. You can live in the UK for three years. After three years, you can ask to stay for three more years. Later, you can even ask to live in the UK forever. This is called “settlement” or “indefinite leave to remain.”

Who Can Ask for This Visa?

Not everyone can get this visa. You must meet some important conditions. The government needs to be sure you are a serious business person. Here are the main things you need.

• A New Business Idea: Your business idea must be new. It must be different from other businesses. It must be something that can grow and make money. You must have a plan for your business. This plan should show how your business will work.

• Money: You need to have some money to support yourself. You must have at least £1,270 in your bank account for 28 days in a row. This shows you can live in the UK without help from the government. You do not need to have £50,000 or £200,000 to invest like in the old rules. The focus is now on your idea, not just your money.

• English Language: You must speak English. You need to show you can read, write, and speak English. You can show this by passing a simple English test or if you went to an English school.

• An Endorsement: This is a very important word. It means you need a “thumbs up” from an expert group. The UK government has a list of approved bodies. These are groups of business experts. You must show your business idea to one of these groups. If they like your idea, they will give you a letter of endorsement. This letter says your idea is new, different, and can grow. You cannot get the visa without this letter.

Why is the Endorsement So Important?

The endorsement is the key to the door. The government trusts these expert groups to find the best business ideas. They are looking for ideas that will help the UK. Your idea must meet at least two of these things:

• It creates jobs for people living in the UK.

• It makes a new product or service, or makes an old one much better.

• It helps a business sector in the UK grow.

• It sells things to other countries, which is called exporting.

Getting the endorsement can be hard. You need a very strong business plan. Your plan must be clear and easy to understand. It must show how your business will make money and help the UK.

How is This Different from the Old Rules?

Some people remember the old Tier 1 Investor visa. That visa was mostly about how much money you had. If you had £2,000,000, you could get a visa. The new Innovator Founder visa is different. It is not just about money. It is about your business idea. The government wants smart ideas, not just big money. This is better for people who have a great idea but not millions of pounds.

This new way is good for the UK. It brings in clever and creative people. It helps build businesses that last for a long time. It is not just about quick money. It is about building something special.

Your First Steps to Getting Your Visa

So, what should you do first? Your first job is to work on your business idea. Make it as strong as you can. Write a very good business plan. Then, you can start looking for an endorsing body. Find a body that understands your type of business. For example, if your business is in technology, find a body that likes tech ideas. You will send your business plan to them. If they say yes, they will give you the precious endorsement letter.

Once you have the endorsement letter, you can fill out the application form online. You will also need to show your bank statement to prove you have the £1,270. You will show your English test result. Then you will pay the application fee. You will also pay for the NHS healthcare surcharge. This is a payment that lets you use the UK’s National Health Service. After you pay and send your application, you will give your fingerprints and a photo at a visa application centre. Then you wait for the answer. The waiting time can be a few weeks.

This is the start of your exciting journey. The next part of this article will talk about the application form. We will look at the fees and the healthcare surcharge. We will also talk about what you can and cannot do with this visa. We will explain the rules for your family. Can your husband, wife, or children come with you? We will answer all these questions next.

Living and Building Your Business in the UK

Welcome back! In the first part, we learned what the UK investor visa for entrepreneurs is all about. We talked about the new Innovator Founder visa. We learned you need a great idea and an endorsement. Now, let us talk about what happens after you get your endorsement letter. What comes next? Let us look at the application, the costs, and the rules for living in the UK.

Filling Out the Application Form

The application form is online. You must fill it in carefully. You will need to give a lot of information about yourself. Be honest and always tell the truth. Here is some of the information you will need.

• Your passport details.

• Details about your travel history.

• Your endorsement letter reference number.

• How you meet the English language requirement.

• Proof you have your living costs money (£1,270).

You will also need to pay some money to the government. This is called the application fee. The fee for the Innovator Founder visa is £1,191. This is the cost for the government to look at your application. You must pay this fee online with a credit or debit card.

The Healthcare Surcharge

This is another very important payment. It is called the Immigration Health Surcharge (IHS). This payment lets you use the UK’s National Health Service (NHS). The NHS is the UK’s hospitals and doctors. It is very good. Paying this surcharge is like buying health insurance for your stay. The cost is £1,035 for each year of your visa. Since your visa is for three years, you will pay £1,035 multiplied by three. That is £3,105. You must pay this when you make your application.

So, the total cost to apply for the visa is the application fee plus the health surcharge. That is £1,191 + £3,105 = £4,296. This is a lot of money. You must be ready for this cost.

What You Can Do With Your Visa

Once you have your visa, you can come to the UK! Your visa will be a sticker in your passport. This is called a vignette. It shows you can enter the UK. When you arrive, you will need to collect your Biometric Residence Permit (BRP). This BRP is a card. It has your photo and information on it. It proves you can live in the UK.

With the Innovator Founder visa, you are allowed to do certain things.

• Start Your Business: This is the main reason for the visa. You can work on your own business. You must follow the business plan you showed to the endorsing body.

• Work for Your Business: You can only work for the business you created. You cannot take a different job with another company.

• Bring Your Family: You can bring your family members. This includes your husband or wife. It also includes your children who are under 18 years old. They will need to apply for their own visas. You will need to show you have more money to support them.

• Travel: You can travel in and out of the UK freely.

• Study: You can study in the UK.

What You Cannot Do With This Visa

There are also some things you are not allowed to do.

• You Cannot Take a Second Job: You cannot work for a different company. You cannot do work that is not for your own business.

• You Cannot Get Public Funds: This means you cannot ask the UK government for money. You cannot get welfare or housing help. You must support yourself and your family with your own money.

• You Cannot Be a Professional Sportsperson: For example, you cannot play football for a team.

Your Duties to Your Endorsing Body

Remember the group that gave you the endorsement? Your relationship with them does not end. After you get your visa and come to the UK, you must talk to them. You must check in with them. You need to do this after 6 months, and then again after 12 months. After the first year, you will check in with them once every year.

You will need to show them how your business is doing. You will show them your progress. You must show that you are working on your business plan. You are meeting the goals you set. If your business idea changes a lot, you must tell them. They need to endorse your new idea. If you do not keep in touch with them, they can tell the Home Office. The Home Office is the UK’s immigration government department. If your endorsing body is not happy, your visa could be taken away.

Keeping Your Visa and Staying Longer

Your first visa lasts for three years. Before it ends, you can apply to extend it. You can stay for another three years. There is no limit to how many times you can extend. But, you must still have your endorsement. You must show your business is doing well. You must show you are following your business plan.

To extend your visa, you will need to apply again. You will need a new endorsement from your endorsing body. You will need to pay the application fee and the health surcharge again. You will also need to show you still meet the English language and money rules.

The Path to Living in the UK Forever

Many people want to live in the UK forever. This is called “settlement” or “indefinite leave to remain.” You can apply for this after you have lived in the UK for three years. But, you must meet some special conditions. You must show that your business is a big success.

You must show at least two of the following things.

• Your business has made at least £50,000 in income in the last year.

• Your business has made at least £50,000 in exports in the last year.

• Your business has created at least 10 new full-time jobs for people who live in the UK.

• Your business has created at least 5 new full-time jobs for people who live in the UK, and each job pays at least £25,000 per year.

This is a very big step. It means your business must be doing very, very well. It is a big achievement. If you get settlement, you can live in the UK forever. You can work any job you want. You can also get public funds if you are allowed. Later, you can even apply to become a British citizen.

This shows how the UK investor visa for entrepreneurs is a path to a new life. It is not just a short visit. It is a journey to build a business and a home. In the final part, we will talk about getting help with your application. We will also talk about common mistakes people make. And we will look at the future for your business in the UK.