What are the requirements to apply for a UK Start-up Visa 2023?

Important Notes:

• The UK Start-up Visa has replaced the Tier 1 Graduate Entrepreneur Visa
• One of the prime features of the UK Start-up Visa is that, it requires ZERO initial investment funds

In 2019, the UK’s Prime Minister, Theresa May, announced the launch of a new visa category for aspiring entrepreneurs across the world. This new route – the UK Start-up Visa was launched in the Spring of 2019 and focuses on inviting talented individuals with business plans to set up businesses with a Start-up Business Visa UK.

The UK Start-up Visa is a new route for prospective entrepreneurs coming into the UK and those who have an innovative, viable, and scalable business plan.

Theresa May said, “It’s a great time to be in tech in the UK, and our modern Industrial Strategy will drive continued investment, ensuring the nation flourishes in the industries of the future and creating more high-paying jobs.”

The visa is a great opportunity to allow young, spirited minds with the motivation to affect the world in a positive way, to follow through with their entrepreneurial ambitions in a strong economy such as the United Kingdom.

To be eligible for a UK Start-up Visa:

1. You must be at least 18 years old
2. You have never owned a business in the UK (unless you previously held leave as a Tier 1 Graduate Entrepreneur)
3. You will require a Start-up Visa UK Endorsement.[This means, your business plan must be approved by a UK endorsing body, which has evaluated your business idea for innovation, viability, and scalability and is satisfied that you will spend the majority of your working time in the UK developing your business venture]
4. Your endorsement letter was issued within 3 months of the date of your UK Start-up Visa application
5. You genuinely intend to and are capable of carrying out any work or business activity listed in your application in the UK
6. As per the UK Start-up Visa UK English Requirements, you must have at least CEFR Level B2 English proficiency (equivalent to IELTS 5.5 in reading, writing, listening, and speaking)
7. If you are not from the UK or have only been here for less than a year, you must have at least £1,270 to support yourself, plus £285 for a dependent partner, £315 for a first child, and £200 for each additional child

The specific requirements for a Start-up Visa UK that you must meet will depend on the circumstances of your case.
For expert advice, we recommend consulting an immigration lawyer.

Keep an eye out for more such UK immigration-related updates!

The SmartMove2UK posts regular updates on the UK Start-up Visa and its requirements.
In the meantime, our expert UK immigration consultants are happy to assist aspiring entrepreneurs looking to migrate to the UK on a UK Start-up Visa.