UK Self Sponsorship
UK Self Sponsorship: Business paths to permanent residency in the UK
Self-sponsorship: What is it?
Who is this for?
- You want to own the UK Company.
- You want to lead, manage, and sustain your UK business.
- You wish to live without worry of losing your UK visa (a sense of freedom).
- Has experience, skills, or qualification(s) in the field of the business they intend to start. Has a business concept or has found a pre-existing UK firm to take over.
- Has sufficient resources to support its projected business in the United Kingdom
- Ideally, has a person who is settled in the UK or a British citizen to take on the Authorizing Officer’s responsibilities, and
- Can take and pass a Level B1 English language exam.
Which businesses are eligible for self-sponsorship?
What makes self-sponsorship more advantageous?
If you wish to start a business or expand your current international operation to the UK, the Self Sponsorship route may be the ideal way to work and live there. It is critical to understand that there is no such thing as a “Self Sponsorship Visa,” but rather a route to enter the UK through the Skilled Worker Visa category. The Self Sponsorship Visa UK allows you to set up a UK firm that will sponsor your immigration and employment in the UK (with the help of a UK resident Director). Unlike the Innovator Visa, you can hold stock in the company and there is no minimum investment limit.
One of the major advantages of self-sponsorship is that it allows company owners to operate and manage their businesses in the United Kingdom without fear of having their visas cancelled. This visa option is best suited for seasoned entrepreneurs or those who have investigated the UK market and seen an opportunity to establish a new firm here. You must first get a Sponsor License before the Company may sponsor you.
StatsRef:
In 2021, there were 1,311,731 UK visas awarded, with the skilled worker visa route, which was launched in late 2020, accounting for 148,240 or 62% of all work-related visas issued and 98% of all skilled labour awards. Meanwhile, there are presently 33 UK groups that provide endorsements, with just a few of the Innovator endorsing bodies accepting open applications. Many of them have very little publicly available information about their procedure, and many of them only accept applications from people who are already part of their group.
As a result, the great majority of potential applicants are essentially barred from applying. Some certifying groups have confessed that they are either unprepared, lack the relevant documentation, or are not yet ready to accept applications for endorsement. Prior to the establishment of this approach, the Home Office gave the bulk of endorsing bodies and very little information about their obligations. The visa route gives the appearance that the tourist did not plan and prepare enough.
Visa eligibility criteria for UK self-sponsors
- The applicant should have some expertise, skill, or qualification in the industry in which they wish to establish their business.
- The candidate must have a business idea or have discovered an existing firm in the UK that they wish to expand.
- The applicant must have the financial means to conduct their intended business in the United Kingdom.
- Please keep in mind that there is no minimum or maximum amount that must be invested in your business venture. It might be as much as £25,000, depending on your company's needs.
- The applicant is acquainted with a British national who is a resident of the United Kingdom and is capable of performing the responsibilities of the Authorising Officer.
- The applicant must take and pass the approved English language test at Level B1.
- Basic knowledge of the English language is required.
When compared to Innovator or Start-up visas, what are the pros and cons of the Self-Sponsored visa UK route?
Here’s a table of contents:
| Self-Sponsorship Route | Innovator Visa | Start-up Visa |
|---|---|---|
|
You can be the director and 100% shareholder of your company.
|
Although these routes do not have a shareholding requirement, applicants should be aware that certain endorsing bodies for the Start-Up and Innovator visas need a portion of stock in the firm before giving an endorsement.
|
Although these routes do not have a shareholding requirement, applicants should be aware that certain endorsing bodies for the Start-Up and Innovator visas need a portion of stock in the firm before giving an endorsement.
|
|
Any business can qualify for the self-sponsorship route
|
This business is for experienced businesspersons
|
This business is for new entrepreneurs
|
|
No Endorsement letter required
|
Endorsement letter is required
|
Endorsement letter is required
|
|
No such requirements
|
Your business idea has to be something unique that is not already existing in the market
|
Your business idea has to be something unique that is not already existing in the market
|
|
Valid for 4 years as per the conditions of The UK Skilled Worker visa
|
Valid for 3 years
|
Valid for 2 years
|
|
You can apply if you are a successful businessperson, and you have identified a business opportunity in The UK.
|
You cannot join a business that is already trading
|
You cannot join a business that is already trading
|
|
No possibility of visa termination as you’ll be your own sponsor.
|
If your endorsement is revoked, your visa might terminate.
|
If your endorsement is revoked, your visa might terminate.
|
What is the Self-Sponsorship procedure?
- Your UK Corporation can be registered with the assistance of a licensed UK accountant.
- Note: If you are not a UK resident, you must first choose a UK-based Director.
- Estimated time frame: 6 to 8 weeks.
How can I get a Sponsor License?
- Most recent UK bank statement demonstrating funds in the account (the amount necessary may vary depending on the sort of business you intend to operate).
- Employer Liability Insurance, VAT Certificate, PAYE Number, and Accounts Reference Number
Additional information
- A working website (if relevant)
- An email address for the firm
- If the company is in its early stages, a business strategy is required.
- An organizational chart displaying existing employees and open positions.
- A letter stating the data about your company, such as business details, working hours, open positions, and the amount you will be paying yourself.
Stage 2 - Create and deliver a Human Resources package to your UK organization.
You must verify that your firm has the required policies and processes in place to sponsor you as a skilled worker as part of the process of applying for a sponsor license.
Timeline:Â Approximately two days.
Stage 3 - You will be issued a Certificate of Sponsorship, and we will assist you in obtaining a Skilled Worker Visa.
You will need a Defined Certificate of Sponsorship after your UK firm Sponsor license has been approved.
Timeline: Between 4 and 12 weeks.
How much money do I need to put in my UK business?
There is no minimum or maximum investment; it may be as little as £25000 or as much as £500,000.
Can I be a 100% shareholder and Director in the UK Company?
Yes, you may own 100% of the stock and be the sole director.
When do I have to show the funds?
Before submitting the Sponsor License to the Home Office.
What will my role be at the UK firm?
You may be one of the majority owners in the UK Company, and your job title may range from Managing Director to Director of Operations, as well as any other appropriate function you may choose to operate your company.
What is the cost of a Skilled Worker Visa?
From £464 to £1408. There are other payments, such as the Immigration Health Surcharge, which is presently £624 per year for adults and £470 per year for child dependents.
Can I work anywhere else in the UK?
You may be able to find additional work that is related to your job classification.
What happens to your immigration status/sponsor license if the business does not operate successfully throughout the 5-year period?
The Sponsor License is valid for four years, after which a renewal application must be submitted to the Home Office. You can keep your sponsor license as long as you have an active/trading business. If your company ceases operations, you will be compelled to change your immigration status.
What assistance can Global Solicitors provide regarding self-sponsorship?
We can:
- Introduce you to strategic partners that can assist you in achieving your goals, such as an accountant, a web designer, and a sales/marketing consultant.
- Preparation of a business strategy for a company
- Help in opening a business bank account
- Prepare and guide your firm sponsor license application.
- Plan ahead of time and train your Authorizing Officer.
- Make your Skilled Worker Application and submit it.
- Give you total hand-holding assistance with your UK immigration procedure.
Can my partner/spouse and children accompany me?
Yes, you are permitted to bring your partner/spouse and children to the United Kingdom.
How long does the visa last?
Between the ages of 3 and 5 years.