2. Table Of Content
▫ Who Is Allowed To Start Their Business in
The UK?
▫ Steps To Kick Start a Business in the UK?
▫ Steps To Avail UK Business Visa
▫ Wrap Up
2
3. Hello!
We are from coursementor.
We are here because we love to give
presentations.
You can find me at www.coursementor.com
3
4. Who Is Allowed To Start Their
Business in The UK?
Let’s start with the first set of slides
5. As stated above, the citizens who are EEA and EU nationals don’t require any kind of
special acceptance or approval for business. But, yes, there is an exception for the
people in Romania and Bulgaria. Things are a lot different from the ones who are
outside the country. First, you need to apply for a UK business visa and get that
approved.
In fact, prospect entrepreneurs can also avail better treatments to gain out of points-
based immigration processes in the UK. This is only possible when you follow the
rules that can help you get to the Tier1 platform. Hopefully, you got clarity on who all
can get their business started in the UK. Now the question might be how! Don’t
worry, we have that sorted for you! The below segment can help you understand
how to get started with your dream business in the UK. Let’s check it out
7. As a foreigner, if you desire to start your self-employed life in the UK, then you need to know about
some of the basic steps related to it. Let’s dive in:
Legal Status: The first and the most important step that you need to check is your immigration status. If
you are not an EU or EFTA national, then you need to have a visa and residence permit in the UK first.
Business Plan: The next important step is to get your business plan drafted convincingly. It is important
that you frame it in such a way that it sounds convincing and positive. If it does, then you are likely to get
a thumbs up.
Structure: After a business plan, the next important step that you need to work on is selecting the
business structure that is going to represent your mode of work.
Business Identification: After this, you need to decide on the factors like business name and address.
You need to get them registered and have their documentation done to move ahead for the tax
purposes.
HM Revenue and Customs Registration: After you have your business identification details ready, the
next step has to be getting your business registered with HMRC for tax-related needs and then also
getting associated with Companies House.
Following All The Other Rules: You need to check if there are any other additional rules to follow to set
up your business in the UK. You need to check with rules and regulations related to licenses and permits,
insurance, import and export, and others to work accordingly.
9. When it comes to innovator visas, it follows the same guidelines as the now-defunct entrepreneur visas.
To get this visa approved, you must have your investment capital of a minimum of £50,000. If you do not
have that much-invested capital, then you must have funds endorsed in the government assets that
belong to the UK government.
There are many more rules that you need to follow to get the respective visa approved, like belonging to
a majority English-speaking country or having a convincing English language examination convincingly. It
can cost you around £1,021 and is valid for three years. If you meet all the criteria, you can extend the
validity even more.
Innovator visa
10. You can also consider applying for a start-up visa if you already have a degree of the same from a UK
higher education institution. Not only this, but if any specific organization has funded you for the same,
then also this visa is applicable. But, this organization must have supported several start-ups before as
well.
To get this visa approved, you need to first prove that your business idea is fully innovative and new. Not
only this, but you also need to show that your business idea has the potential for excellent opportunities
and growth. It can cost you around £308 to £363. This visa is valid for two years, and you can’t extend its
validity. You can get this visa switched to an entrepreneur visa after the validity is over.
Start-up visa
11. You can consider applying for an investor visa if you have more than £2 million to invest. Applying for an
investor visa can cost you £1,623. It can take up around 3 months to get the application approved so
that you can travel and get started with the same. With the help of this visa, you can reside in the United
Kingdom for 3 years and 4 months maximum. You can also get the validity extended if you are able to
match their criteria.
Investor visa
13. Hopefully, you have got complete clarity about how you can start your
business in the UK. If you need any assistance with a UK business visa,
you can always consider connecting with the experts. They can take
care of all the aspects and help you kick-start your business. Good luck!
