The United Kingdom’s decision to exit the European Union, known as ‘The Brexit,’ led to a range of reactions and opinions worldwide. While some were in favour of it, others were worried about how it would affect the economy. The business environment has changed, though, over the years since Brexit in February 2020. Despite its difficulties, the UK continues to be a popular choice for the creation and expansion of new businesses. The UK offers a strong footing for entrepreneur visa UK applicants to venture out with their potential ideas thanks to its thriving economy. Additionally, its advantageous location allows for quick access to both European and other international markets.
Following Brexit, business owners now have more freedom to decide how their industries function, which enables the creation of new international trade alliances. The UK business visa has undergone some changes as a result of the UK’s popularity as a location for foreign entrepreneurs looking to expand their enterprises. Let’s look at the most recent changes to the business visitor visa UK and what it means for entrepreneurs from other countries.
Introduction of two new visas
The UK government has launched two visa categories:
- Expansion Worker Visa
- Innovator Founder Visa.
Expansion Worker Visa
This
UK business visa type is for entrepreneurs who want to expand their business operations into the UK. As part of the Global Business Mobility (GBM) visa program, this visa allows individuals to launch overseas businesses by starting a branch or subsidiary of their business in the UK. However, the firm whose branch would be set up should not have started trading yet in the UK.
Eligibility criteria for the applicant are:
- Applicants must be at least 18 years old and employed by a foreign company to qualify for this visa. When applying for this visa, you should hold a senior or specialized position. Additionally, you must have worked for your employer for at least a year outside of the UK and possess a certificate from them.
- You should get a remuneration of minimum eligible salary as per the job position held.
This visa is granted for up to 2 years, depending on the job’s beginning and end dates on the sponsorship certificate. This visa can be obtained for all genres of businesses and is popular among those moving to the UK for work. You can also bring your family with you, including your spouse, partner, and children. However, after arriving in the UK with this visa, you can’t switch jobs, apply for another job, or seek permanent residency in the UK.
Advantages:
- It is a simpler way to begin expanding a business abroad where a key employee can temporarily relocate to the UK to set up the branch and expand the business forward.
- Dependents can live in the UK and attend school.
- Entrepreneurs can get access to the vibrant UK business infrastructure and explore opportunities in the European Union market.
Innovator Founder Visa
Introduced to replace previous Innovator and Start-up visas in 2023, this visa lets aspiring entrepreneurs run a creative business in the UK which has a uniqueness to it. Applicants must present an innovative, viable, and scalable business idea that they have either created from scratch or significantly contributed to.
For this UK business visa requirements, the eligibility criteria is as follows:
- Applicant should be 18 years old, should have a good command over the English language and should be on level B2 on the CERF scale.
- The idea of the business should be unique, something that is not in the UK market and must be vouched and endorsed by an approved body. It should be a brand new idea with a good scope of potential growth that would also create jobs in the international markets.
- Applicant should have enough personal funds, close to GBP 1300 for 28 days to support the stay in the UK.
Advantages
- Eligible applicants can obtain Indefinite Leave to Remain status in just three years, ensuring long-term stability.
- Investment funds are not needed if the business is already a thriving one and endorsed for an earlier visa.
A three-year permission is granted with this visa, with the possibility of applying for indefinite leave to remain, and dependents can join them in the UK. However, a meeting with the endorsing body after 12 months and 24 months will decide if the company is making progress and has a future potential growth vision. The visa can be extended any number of times at the end of 3 year period and is also eligible to apply for settlement in UK as well.
Both visa types offer significant chances for business expansion. Likewise, they serve as long-term multiple-entry
UK visa type, offering an expedited way to settle in the UK and allowing entrepreneurs to establish a future for themselves, their business, and their families in the United Kingdom.
Conclusion
The United Kingdom is one of the world’s leading economies. After Brexit, it has modified its immigration policies to draw in foreign investors, entrepreneurs and promote economic growth. The following visas encourage creative business owners from around the world to start a company in the UK with simple visa application procedures. If you tick all the boxes for the requirements for these visas, the process for obtaining a UK visa from Dubai or anywhere else in the world as an entrepreneur is fairly simple.
