For most small business owners who are thinking about starting a business in the UK- Self- Sponsorship Visa route looks like a very appealing option. But why do small business owners think about starting a business in the UK? The simple answer is the UK’s growing economy, diverse market, and centralised global trade network.

But despite the advantages of starting a business in the UK, most small business owners are not sure how to achieve their dreams using the Self-Sponsorship Visa route. In today’s article, we will be sharing:

1. What is the UK Self-Sponsorship Visa route 
2. Benefits of  the UK Self-sponsorship visa route 
3. Essentials of launching a business in the UK using the Self-Sponsorship Visa route

What is the UK Self-Sponsorship Visa route:

The UK Self Sponsorship Visa route is an amalgamation of a Skilled worker visa and Sponsorship licence. Simply said, if you are thinking about opening a business in the UK, you can sponsor yourself in your self-established business in the UK. Unlike other business visas, this route offers flexibility to work, autonomy over business decisions, and migrating your family to the UK without many restrictions. 

This is the only route that does not burden you with a lot of financial investment, making it ideal for especially small business owners. This route is very different from other traditional routes that require a significant amount of investment and innovative ideas. Under this route, you particularly don’t need to have a unique idea but the only condition that applies here is that your business must be a genuine one and not a sham. The Home Office makes sure that your business is not created for the sake of it and it is trading in the UK. Here are 3 quick pointers on how this works practically: 

1. You are your sponsor

Under this route, you establish your own business in the UK, act as your own sponsor, and obtain a Sponsor Licence- generally required for those who are applicants for a Skilled Worker Visa.  After this, you are then eligible to issue yourself the certificate of Sponsorship so that you can apply for a skilled worker visa. 

2. Freedom to complete Visa requirements

The Self-Sponsorship visa route needs you to meet certain eligibility criteria like English language fluency, proof that you have enough to invest, and a genuine business plan- without the need for any third party’s involvement. This key feature of this visa route gives a surety to business owners that they will have freedom and control over their visa process and business.

3. An ideal solution for entrepreneurs like you

The Self-Sponsorship visa route is an ideal option for visionary entrepreneurs, especially for small business owners who are willing to launch their business without letting someone offer them a job. This is suitable for those who have a well-drafted business plan that works which grows the UK’s economy and creates jobs.

Benefits of  the UK Self-sponsorship visa route 

The UK Self-Sponsorship visa route comes with many advantages that make it an attractive option for small business owners. Here are some key benefits that make this route better than traditional business visas:

1. No Strain on your pocket:

When we compare it with other traditional business visas, the Self-Sponsorship visa route does not burden you with investing a lot and going out of budget. This route gives you the bandwidth to establish your small business on a more realistic budget, making it beneficial for business owners like you to manage better in the early days of your business.

2. A route to settle in the UK

The skilled worker visa obtained under this route to attain a self-sponsorship visa can lead to your chance to become a permanent citizen of the UK after five years (commonly known as Indefinite Leave to Remain). This is one of the most attractive parts of a Self-Sponsorship visa for entrepreneurs who want to reside for the long term in the UK, grow their business while staying in the UK, and also plan to move their family here. 

3. Flexible enough to scale business

Now that you are aware that you are your own boss, the route from here becomes relatively easy for you in terms of scaling your new business as a small business owner. 

You are now free to grow, employ people who suit the job role, and expand your business according to your pace and resources. 

Essentials of launching a business in the UK using the Self-Sponsorship Visa route

 Step 1: Create a thorough business plan

The foundation of your self-sponsorship visa application is a well-written business strategy. Your strategy should highlight your competitive edge, show that you have a thorough understanding of the UK market, and offer a thorough growth roadmap. Market research, financial forecasts, staffing requirements, and the potential economic benefits your company can provide to the UK are important elements to mention. A solid business plan acts as a useful road map for success in addition to improving your visa application.

Step 2: Register Your Company in the United Kingdom

The next step is to formally create your company in the UK by registering it with Companies House. To make transactions easier, you’ll also need to register a business bank account in the UK. Additional regulatory requirements, such licensing or sector-specific licences, can apply depending on the nature of your business.

Step 3: Submit a Sponsor Licence Application

Getting a sponsor permit is essential for self-sponsored business owners. You will require a Certificate of Sponsorship in order to work for yourself under the Skilled Worker Visa, and this permit enables your business to lawfully issue one. Verifying the validity of your company and confirming your ability to adhere to UKVI standards are two requirements of the application procedure. Make sure you collect all necessary paperwork, including financial documents, evidence of business location, and details regarding the organisation of your company.

Step 4: Get a Certificate of Sponsorship (CoS) for yourself.

You can issue a Certificate of Sponsorship for yourself after obtaining the sponsor licence. This document attests to your eligibility to apply for a skilled worker visa, which will allow you to live and work legally. 

Step 5: Submit a skilled worker visa application

Now that you have your Certificate of Sponsorship, you can apply for a skilled worker visa. This phase is paying the visa fees and providing supporting papers, including your business strategy, financial records, and evidence of your English language skills. Although processing times vary, a judgement should be made in a few months on average.

Step 6: Fulfil Continued Sponsorship Requirements

It’s crucial to abide by UK sponsorship laws after your visa has been approved. This entails keeping correct records, disclosing modifications to your work status, and making sure you fulfil the requirements for renewal. By following these guidelines, you can keep your business running well and prevent any problems with your visa status.