The United Kingdom is the second largest economy in Europe. It is considered to have the most robust and established legal system which has been inherited by one third of the world.
The United Kingdom is a leader in the international community and a member of the G7, NATO and Commonwealth of Nations. The government has introduced a variety of residency by investment schemes to attract the most talented professionals and business leaders.
The UK innovator visa and Self Sponsorship Route offers investors the ability to set up a business in the United Kingdom and a route to acquire permanent residency.
Investors will need to present a scalable, innovative and viable business idea. The business idea will need to be assessed by an approved government body. The endorsing body will assess whether business is genuinely viable, scalable and innovative.
Investor will need to demonstrate various requirements within their business plan in relation to source of funds, work experience and skillset.
If the business receives a successful endorsement, the investor can proceed to submit their application on the online portal and provide their biometric data at a government mandated visa application centre.
If the visa application is approved, the investor will need to travel to the united kingdom within three months and acquire their UK residence permit.
Two of the following requirements will also need to be fulfilled in order to apply for indefinite leave:
Main Applicant
GBP £1191
Spouse
GBP £1191
Child
GBP £1191
Initial Endorsing Body Fee
GBP £1000
Endorsing Body Monitoring Fee
(12 Month Checkpoint)
GBP £500
Endorsing Body Monitoring Fee
(24 Month Checkpoint)
GBP £500
Over 18 years of age
GBP £3105
Under 18 years of age
GBP £3105
In order to apply for indefinite leave to remain after three years of residency, the investor must receive another endorsement letter by a government approved endorsing body.
The endorsing body will need to assess the following criteria:
Confirm the business has made significant progress over the three years. The endorsing body will assess the business plan to see whether the business is achieving the goals set out in the business plan.
Confirm whether the business is registered with Companies House and the applicant is listed as a director.
Confirm the business is active and trading.
Confirm the business can continue to be sustainable in the following 12 months at the time of the new endorsement. The endorser will assess the assets and expected income of the business and weigh them against its current and planned expenses.
Confirm the applicant has demonstrated an active key role in the day to day management and development of the business.
If you have any questions or are ready to start your journey 2nd citizenship journey,
Contact AIM Capital Partners and we will be happy to help.
