Best UK Visas for Foreign Entrepreneurs Who Wants to Establish Their Business in the UK

Ryan Patrick

Aug 8, 2024 • 9 min read

A UK business visa is a type of visa that is typically for people who want to carry out activities related to business. The current UK immigration rules have several types of business visas available for individuals. One important thing to note is that there have been significant changes to the business immigration rules in the UK in the past couple of years.

For instance, the Tier 1 entrepreneur visa, investor visa, intra company transfer visa, and sold representative visa are no longer available for new applicants. However, individuals who already have these visas can still apply for indefinite leave to remain (ILR) or extend their stay in the UK if they meet the eligibility requirements.

Due to the recent updates in the UK visa system, there has been the introduction of new visas that serve as replacements for the other ones that are no longer available. These changes were made to adapt to the needs of businesses and individuals who want to come to the UK for business purposes. However, the names and details for these visas may vary, they are generally meant for investors, entrepreneurs, and company representatives to contribute to the UK economy.

For instance, while the Tier 1 Entrepreneur visa is no longer available for new applicants, the innovator visa has been introduced as a new option for individuals who want to establish a business in the UK. The innovative visa requires applicants to have innovative ideas, viable and scalable business ideas that have been approved by a recognised and approved body. Similar to this, the startup visa serves as a replacement for the Tier 1 Graduate Entrepreneur visa. This visa is mainly for people who are starting a business for the first and similar to the innovator visa, the business idea must be endorsed by an approved body.

There have also been changes to the intra company transfer visa system and a new visa has been introduced, the global business motility visa, which allows overseas businesses to send their employees to the UK for specific reasons which might include expanding their business presence or working on special projects. This visa is to create a more flexible option for businesses and their employees, making the UK an attractive location for international business activities.

The UK immigration has made sure that other visas were made to complement the older visas that are no longer available for applicants in the UK.

Short-term Visa

For individuals who are coming to the UK for business-related activities for only a diet period, two main visas are available under the visitor's category: the standard visitor visa and the permitted paid engagement visa.

The standard visitor visa is also known as the short-term UK business visa and this visa allows individuals to stay in the UK for only business purposes for up to 6 months and also covers a wide range of business activities. The following are activities you can carry out with this visa.

With this visa, individuals can attend job interviews, work-related meetings and events. It also legally allows you to meet with clients for negotiation and signing commercial contracts.
If you are attending an international fair that is aimed to promote your business, this is also covered by the visa.
You can also receive work-related training that is not available in your home country.
Give unpaid talks or a series of talks
Conduct site visits and inspections
Oversee the delivery of goods and services from a UK-based company to an overseas company.
Provide training or share knowledge.

It is very important to note that you cannot carry out paid or unpaid work for a UK-based business or work as a self-employed individual with the standard visitor visa. However, if you want to come to the UK for a short period for a paid job, then you will need to apply for the permitted engagement visa.

The permitted engagement visa, on the other hand, allows individuals to visit the UK for up to a month to carry out a paid assignment. This visa is specifically for individuals who have been invited to the UK by a UK-based business as a specialist or expert in their profession. This could include artists, entertainers, sports professionals, guest lecturers, or other professionals who have been invited for their area of expertise.

The UK business visa system has gone through so many changes over the past years and these two visitors are part of the system. As an entrepreneur who wants to go to the UK, it is important to stay updated with the latest immigration rules and visa options to ensure that you apply for the right visa you need. Though the standard visitor visa and the permitted paid engagement visa are for similar purposes, they both have different business activities they cover allowing individuals to pick their visa depending on the business activities they are coming to the UK for.

Requirements for Short-term Business Visa

To qualify for the short-term business visa in the UK, certain requirements must be met to ensure the reason for your visit is legit and follows the regulations of the visa.

First, you need to be sure that you intend to leave the UK before your visa expires, meaning that you have a plan to return to your home country or any other location once you are done with your business activities. You will need to provide evidence of your return, such as a booked flight ticket, to prove that you do not intend to stay more than you are supposed to.

Secondly, you also need to prove that you have enough funds to support yourself and any dependents during your stay in the UK. This includes covering accommodation, living expenses and any other costs that might arise. If someone or an organisation, you need to provide a letter of support from them. This letter should contain every detail on the nature of the financial support they will be offering.

You must also show that you have a way to pay for your return. You must be able to leave the UK when your visa expires without needing help from UK public funds. A return ticket satisfies this requirement.

It is important to note that you cannot use a short-term business visa as a way to live in the UK for extended periods. You must stay temporarily and carry out your specific business activities and leave the country.

Innovator Visa

The UK's innovator visa is made for business individuals and entrepreneurs from all over the world who want to come to the UK and start up a new innovative business. The visa replaces the old Tier 1 Entrepreneur visa, although there is still a possibility for people who already have the Tier 1 Entrepreneur visa to extend it, it is not available for new applications. With a legit entrepreneur visa, you can stay in the UK and bring dependent family members with you.

To apply for the innovator visa, you must meet the requirements set by the UK Visas and Immigration (UKVI).

You must be 18 years or above.
You must have at least £50,000 in investment funds to put into your business. This is to ensure that you have the necessary finances for your business.
You must have a well detailed unique business plan. Your business should be able to introduce something new to the market with Hugh's success possibilities, and your business plan must be endorsed by an approved body.
Must meet the English language requirements which involves taking a test to prove your ability to communicate in English effectively.
Enough savings to support yourself while you are in the UK without the need for public funds.

Once your visa is successful, you are allowed to stay in the UK for up to 3 years initially and after this period, you can extend your visa if your business meets the requirements. The innovator visa also provides one of the fastest routes to permanent settlement in the UK known as the Indefinite Leave to Remain(ILR). After three years in the UK on the innovator visa, you can apply for the ILR allowing you to obtain permanent settlement.

Start-Up Visa

This visa is specifically for entrepreneurs who are just starting in the innovative world. Unlike some other business visas, application for a start-up visa in the UK does not require an investment fund. To qualify for the startup visa, you must meet the criteria.

You must be 18 years old or above.
You must have a detailed and unique business plan that is endorsed by any approved body.
You must prove that you have the skills and requirements to start and operate a business.
You must meet the English requirements by taking a test to prove that you can effectively communicate in English.
You must have enough savings to support yourself while you are in the UK without needing public funds.

The startup visa offers settlement in the UK for only two years. However, if you want to extend your stay or get a permanent settlement, you will need to apply for a visa that qualifies such as the innovative visa, then after your visa expires, you can then apply for the IRL.

Global Business Mobility Scheme

This was introduced by the UK Visas and Immigration (UKVI) in April 2022. This scheme includes five new visas that were for overseas businesses who want to expand into the UK market. These visas provide different ways for various business activities, allowing companies or organisations to send their employees into the UK for business activities.

Senior or Specialist Worker Visa

The senior or specialist worker visa replaced the intra-company transfer visa. It was made for senior managers and employees with specialist skills who want to work in a UK branch or subsidiary of their employer. To qualify for this visa, you must be sponsored by your employer or hold a valid certificate of sponsorship. Also, you must have a job on the list of eligible occupations and receive an annual salary of at least £42,000.

Holders of the senior or specialist worker visa are legally allowed to stay in the UK due up to five years. If they receive an annual salary of £73,900 or more, they may be able to extend their stay. ILR is not possible with this type of visa.

Graduate Trainee Visa

The graduate trainee visa replaced the intra-company transfer graduate visa. This visa allows companies to go send their employees to the UK to work for a branch or subsidiary of their employer. Applicants must be sponsored and be part of a graduate training program. The applicant must have worked for their sponsor for a minimum of three months, have a certificate of sponsorship and receive a salary of at least £23,100 annually. Individuals who want to stay for more than the period offered by this visa will need to apply for another type of visa.

UK Expansion Worker Visa

This visa replaced the sole representative visa of an overseas business visa. It allows foreign businesses to send a senior manager to the UK to establish a business presence. Applicants must have a certificate of sponsorship, must have worked with the sponsor for at least 12 months and have an eligible job that pays not less than £42,000 annually. The initial stay period is 12 months and individuals can extend their stay for a maximum of two years. If they intend to stay permanently, they may need to apply for another type of visa.

Secondment Worker Visa

The visa is designed for workers who are transferred by their employer to work on a high value contract for a UK business. Applicants must have worked for a foreign business with a high-value contract with a UK-licensed sponsor for at least a year. They must have a certificate of sponsorship and an eligible job. The initial stay period is 12 months, with the possibility of extending their stay to two years. To go for a permanent settlement, the individuals must go for another type of visa.

Service Supplier Visa

This allows foreign employees or self-employed individuals to come to the UK to provide services for a UK-based business as part of a contract. To qualify for this visa, applicants must work for a foreign business or be a foreign self-employed service provider. There must be a contract as part of international trade agreements in the UK, with the UK-based business acting as the sponsor. Applicants must have a job and meet the necessary criteria and professional experience alongside a certificate of sponsorship. The initial stay period varies between six to 12 months, depending on the agreement between the two parties. This visa does not allow a permanent settlement.

Applying for a UK Business Visa

The following are the steps you need to follow if you want to apply for a UK business visa:

Review the requirements and criteria and check if you are eligible
Depending on the nature of the business, you need a valid certificate of sponsorship or an endorsement letter. If you are applying for a visitor visa, you need a letter from the relevant business giving reasons why you will be going to the UK.
Prepare all your necessary information and submit your visa application online through the UKVI website.
Pay the visa fee, which varies depending on the type of visa you are applying for
Book an appointment with a UKVACS service point if in the UK or a visa application centre (VAC( outside the UK to process your biometrics.
Upload all the required documents by UKVI to support your application
Attend your biometrics appointment and get your phone taken and your fingerprint scanned.
Wait for the feedback on your application

You may need to attend an interview to explain your application.

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Conclusion

Applying for a business visa is easy and can be done online. However, this will differ depending on the type of business activities you are going to the UK for and whether you are self-employed or have an employer. Before starting the application process, you must make sure to go through the requirements and ensure you meet all the criteria stated for the specific visa you are applying for.