How You Can Start a Business as an Immigrant in UK

Foreign investors who want to start doing business in the UK usually need an Innovator Founder visa (the Tier 1 visa for entrepreneurs closed to new applicants in March 2019) if all important requirements are met. Our immigration solicitors in London are ready to provide suitable information and details in this matter and can help you prepare the documents to legally perform activities as an entrepreneur in the UK. And if you are interested in family reunification, the UK family visa is the type of document you need. Our UK immigration lawyer can help you.

Requirements to meet when starting a business in the UK

Overseas entrepreneurs can benefit from the fruitful business opportunities in the UK, in cities like London, Birmingham, Nottingham, Cambridge, Liverpool, or Manchester where the market is quite attractive. First of all, a business plan is mandatory before making any movement and the market should be properly analyzed, in order to start a money-making company.  A businessman should know that opening a company in the UK does not require a minimum share capital (a single £1 share is enough), nor employees with a full-time work contract, from the country or from abroad. Please take into consideration the following conditions to start a business as an immigrant in the UK.

•     prepare for the IELTS test if you do not have sufficient English knowledge;
•     make proof of the financial situation, to see if you can support yourself and the employees before the business starts generating money;
•     propose a suitable business plan;
•     obtain an endorsement from an approved endorsing body for an innovative, viable and scalable business (Innovator Founder visa).

We remind you that you can solicit help and guidance from our UK immigration lawyer if you want to settle or to relocate to the UK.

How to apply for a UK Innovator Founder visa

This important type of visa, the Innovator Founder visa (which replaced the Tier 1 visa for entrepreneurs) is granted for 3 years, with the possibility to extend it if your company still runs activities in the UK. You can also use it if you plan to develop and to set up a new business in the country, or if you want to bring your family with you. One should know that you cannot obtain public funds as a foreign entrepreneur in the UK.

The Tier 1 Investor visa closed to new applicants on 17 February 2022, so there is currently no UK investor route to permanent residence. Our team can give you more details.

Business recommendations for immigrants in the UK

If you have decided that the UK is the proper country you can develop and want to be a successful businessman, it is recommended to consider a few important aspects:

•     choose the proper business structure and name for your company;
•     make research in the chosen domain, in order to create a business plan;
•     find out information about the needed licenses;
•     choose an accountant to deal with the taxes and the financial situation of your new company;
•     create a website and promote your company.

The UK registered good numbers related to the economic growth for the last year. Tourism, banking, engineering, oil and gas, insurances, and real estate are among the important areas of interest where an immigrant can set up a business. Details in this matter can be offered by our London immigration lawyer.

Please feel free to contact our team of immigration solicitors in London for extra details about how you can start a business as an immigrant in the UK. Let our London immigration lawyer help you.