How to Use the Self-Sponsorship Route to Maximize Your UK Investment Visa Benefits
nicholasblake
The United Kingdom is one of the most admirable and desired countries for global business enthusiasts. The UK government also considers the requirement of international business owners. Considering their requirements the UK visas and immigration offers several visa routes and one of them is investment visa UK. However, this visa route is specifically designed for the high net worth business enthusiasts who can contribute to the country’s development through their dynamic business. Now if you are someone with limited financial goals an obvious question may arise in your mind which is: is this visa a great option for you? Well, to all your questions, here in this specific piece of article, we have mentioned if it is the right choice for you or not along with its eligibility and certain requirements.
Understand the UK Investment Visa:
Before deciding if it’s good or bad for you it is crucial to understand what it actually is. About this visa route you must know that earlier this route was known as tier 1 investor visa (which is now closed). This visa type was specifically curated for people who can invest a hefty amount in the UK’s business market. That’s why this visa type is considered by the established business owners but can’t be a beneficial route for entrepreneurs and startups.
However, Investment Visa UK opens the door for permanent residency and citizenships as well. The name defines them all, in simple words we can say that this visa is for people who want to invest, not for those who want to start their business in the United Kingdom.
Eligibility Criteria & Requirements For Investment Visa UK
Let’s understand the eligibility criteria and requirements of the UK investment visa route to understand whether this visa is right for you or not.
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This visa requires a minimum of £2 million to invest in the UK business market. This investment money can be invested in the form of a limited private company or sole trader.
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To obtain this visa it is crucial that you must provide sufficient evidence of finances. It is essential to provide in terms of demonstrating to the UK government that you are capable enough to invest in the UK market.
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You must have a viable and successful business that can be expanded in the United Kingdom.
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You must have proficiency in speaking and writing the English language. To prove your proficiency you can submit a certificate of the English language test.
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You must not have any criminal records in your respective country. As a proof, you may be required to submit a non-criminal record certificate.
Understanding the self-sponsorship visa route:
As the Tier 1 UK visa has been shut down, there’s another route through which you can still establish your business in the UK - self-sponsorship visa route.
This route is a combination of a sponsor licence and a skilled worker visa. The entrepreneurs need to prove that they have attained a sponsor licence using which they can sponsor themselves under the skilled worker visa route.
Under the traditional methods of getting a skilled worker visa, you need to show the UK Home Office that you hold a valid sponsor licence issued by your employer. This route is the best option for those entrepreneurs and investors who are not directly in connection with any UK-based organisation or who want to prove that they can meet the visa requirements on their own.
How can you use the self-sponsorship visa route to maximise benefits:
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The financial requirements:
In order to apply for a UK investment visa, the applicants must fulfill the investment requirement. Maximising your benefit starts with planning on the ways you could complete the financial requirement and you can do so by working with a financial advisor who can guide you through this process. Planning in advance can save you a lot. The second thing to note is, under this route, you need to spend less funds as compared to other routes which need at least £2 million of investment without covering the professional help cost. The amount you save can be invested by you in your business and operations.
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Control on the business
As this visa route does not have any restrictions on categories of businesses and entrepreneurs who can start their establishment in the UK, you have full control over the sector or industry of your interest in building a business. You are in charge of where you invest your money on. This can make it easier for you to save money as well.
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Personalised visa experience
Another benefit of self-sponsorship is that since you are not dependent on a third party to sponsor you there are very few bureaucratic hurdles to go through. You have direct control over the process from investing options to managing the funds so you are able to leverage the benefits needed.
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Getting access to education, healthcare, and social benefits
Via the self-sponsorship visa route, you can leverage the benefits that the UK offers to you. The UCs fines education, healthcare, and social benefits that you and your family members can enjoy. As you can move your dependant family members to the UK after 5 years of running your business in the UK, it is extremely beneficial for you.
Conclusion;
If planned carefully and with expertise the self-sponsorship route can be a valuable path to start a business in the UK. This route proves to be beneficial financially and strategically.
If you are an entrepreneur or want to set up your small business in the UK you can go with a self-sponsor visa. This visa route is low maintenance and does not require a minimum investment and it is an ideal path for entrepreneurs and small business owners.
Let the self-sponsor visa route be the key to your entrepreneurial success. Seek expertise from experienced experts like A Y & J solicitors who have helped thousand of overseas entrepreneurs to establish their business in the UK and ultimately become citizens of the UK.
