First things first, if you are a non-UK resident who wishes to form a UK limited company, there is no need to apply for a work visa, as there is no requirement for you to travel to the UK. The entire company formation process can be completed online from wherever you are in the world, within 24 hours.
However, if you wish to relocate to the UK to run a business, there are work visa requirements. Also, if you wish to visit the UK on a business trip, there can be visa requirements. In this article, we look at the different visas that may apply to you.
Work visa requirements for relocating to the UK to start a business
As someone wanting to come and live in the UK to set up a business, several visas may be appropriate for you, including the:
- Innovator Founder visa
- Global Talent visa
- High Potential Individual visa
- UK Expansion visa
These visas are dedicated to people (generally regardless of citizenship) who wish to come to the UK for the purposes of setting up a business or working in a highly skilled environment. As such, they require you to demonstrate that you have a groundbreaking business idea, are an industry leader, or hold a relevant and recent qualification. These are the visas that we are going to focus on in this article.
Nonetheless, there are also visas that, whilst not dedicated to setting up a business or working to a high-performing level, enable you to come to the UK, and as a byproduct of that, start a business. The criteria for these visas are typically associated with citizenship (or the citizenship of a relative) and/or age.
To find out more about these visa types, click the links below:
Let’s now look at the dedicated business visas in more detail.
Innovator Founder visa
This type of visa is for experienced entrepreneurs who have an innovative, scalable idea for a business – different to anything else in the market – that they want to set up in the UK.
This idea must be approved by one of the following endorsing bodies: Envestors Limited, Innovator International, The Global Entrepreneurs Programme (GEP), or UK Endorsing Services.
Key Innovator Founder visa information
| Visa cost | £1,191 plus an endorsement fee (approximately £1,000), plus a healthcare surcharge (cost depends on personal circumstances) |
| ‘Supporting yourself’ requirements | Minimum of £1,270 in bank account |
| Age limit | At least 18 years old |
| Knowledge of English | Yes, to a B2 standard |
| Visa length | 3 years |
| Option to extend | Yes, if still eligible |
| Option to stay permanently | Yes, upon successful application |
| Application process | Online with a response within 3 weeks |
Global Talent visa
This visa allows leaders or potential leaders who work within the digital technology, arts or culture, and academia or research industries, to come to the UK to set up a business.
As part of the application process, the Home Office also sends visa requests to industry-specific endorsing bodies, to ascertain the leadership credentials of the applicant (unless the individual has won a specific award, in which case this step is bypassed).
Key Global Talent visa information
| Visa cost | £716 (£524 for the endorsement, £192 for the visa), plus a healthcare surcharge (cost depends on personal circumstances) |
| ‘Supporting yourself’ requirements | Not specified |
| Age limit | At least 18 years old |
| Knowledge of English | No |
| Visa length | 5 years |
| Option to extend | Yes, if still eligible |
| Option to stay permanently | Yes, upon successful application |
| Application process | Online with a response within 3 weeks |
High Potential Individual visa
Graduates who have been awarded a qualification (to the equivalent of a UK bachelor’s degree, postgraduate degree, PhD, or doctorate) within the last 5 years by an eligible university can come to the UK for a limited period and set up a business using this visa.
Key High Potential Individual visa information
| Visa cost | £1,032 (£210 for a qualification check, £822 for the application fee), plus a healthcare surcharge (cost depends on personal circumstances) |
| ‘Supporting yourself’ requirements | Minimum of £1,270 in bank account |
| Age limit | Not specified |
| Knowledge of English | Yes, to a B1 standard |
| Visa length | 3 years |
| Option to extend | No (a visa switch would be necessary) |
| Option to stay permanently | No |
| Application process | Online with a response within 3 weeks |
UK Expansion visa
This visa allows senior managers or specialist employees of existing businesses (that are not currently trading in the UK) to visit and set up a UK branch. To enable this, the initial business will need to apply for a sponsor licence.
Key UK Expansion visa information
| Visa cost | £259, plus a healthcare surcharge (cost depends on personal circumstances) |
| ‘Supporting yourself’ requirements | Minimum of £1,270 in bank account |
| Age limit | Not specified |
| Knowledge of English | No |
| Visa length | 1 year |
| Option to extend | Yes, up to 2 years |
| Option to stay permanently | No |
| Application process | Online with a response within 3 weeks |
Work visa requirements for visiting the UK to do business
If your business has already been established and you wish to travel to the UK to do some work – or carry out research for a business you haven’t yet set up – you don’t necessarily need a specialist work visa.
If eligible, as a Standard Visitor you can come to the UK (and stay for up to 6 months) to partake in certain ‘business activities’. For example, you can:
- Attend meetings and conferences
- Negotiate and sign contracts
- Visit trade events
- Carry out site visits
- Give one-off presentations
- Get training
- Provide training
Depending on your citizenship, you can either travel to the UK as a Standard Visitor (without the need to pay a fee) or you may need to apply for a Standard Visitor visa (£115). Find out which applies to you – or if you are eligible at all – by using the ‘Check if you need a UK visa’ tool.
If the work you will be doing goes beyond the business activities outlined above, or if you are not eligible to travel for business purposes as a Standard Visitor, you will need a work visa.
Let us help form your UK limited company
There are no work visa requirements for forming a UK limited company, because you do need to travel to the UK to complete the company formation process. It can all be done online, from the comfort of your home – wherever in the world you live.
If you are a non-UK resident who wants to form a UK company, we can help with our Non-Residents Package (available for £164.99). This provides you with everything you need to set up your company, including a UK based registered office address and the option to open a WorldFirst UK Business Bank Account.
So there you have it
We hope you now have a good understanding of the different visas that are available to you, as someone who wishes to travel to the UK to set up and run a new company, or do business for an existing company. Please leave a comment if you have any questions.
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