CoronaVirus severely damaged Britain’s economy, and it suffered its biggest crash in output as compared to the last 300 years. It tumbled by 9.9% approx, losing a little ground in the year 2020. Avoiding to crash further by the end of the year, the economy looks on course for a recovery in 2021. Although the growth rate is higher than expected, due to the Covid recession’s depth, many top economists suggest that the economy would not be able to reach the pre-pandemic stature until 2022.
Although the U.K. is still experiencing restrictions, there is a ray of light and hope at the end of the tunnel while the vaccine reaches all the people at risk. This could result in a gradual decrease in social restrictions, pointing towards normalisation.
The U.K. government is leaving no stone unturned to normalise the economic situation and take all the necessary steps. One such step is the announcement of a very innovative “Start-up Visa“. It is one of a kind, which aims to stimulate growth and innovation in U.K. PLC. This new visa is formulated to allure more international entrepreneurs to come and construct their businesses in the U.K. through this eased up eligibility criteria.
It would not take long when Britain would be the place for startups.
The U.K. has always been a hot spot, an attractive premise for entrepreneurs due to political stability, language, liberal tax breaks, and other lucrative economic advantages. And with this “Start-Up Visa” coming in, there is no looking back. Undoubtedly, creating favourable chances and opportunity in the U.K. to accept more overseas entrepreneurs would surely be a perfect manifesto for economic growth and wider economic gains. This visa would surely come up with additional support for startups, whole accessing to mentor and establish a business network.
So basically, anyone anywhere in the world, with some amazing ideas, vision and passion for spending time and effort, can come and build a fortune in the U.K. Startup-Visa has the capability to do this.
Criteria and the rules for the Start-Up Visa.
The first and foremost criteria are that the business idea should be innovative and different from what everyone else is doing, and also, it should have a potential for growth. Apart from this, one should be above 18 years of age and have a certain amount of money in the bank for at least a month before being eligible to apply for the visa.
The Start-Up Visa is applied for a maximum of 2 years, after which one will have to switch to an innovators visa if one wishes to stay longer.
How to Apply?
The application is online, and the wife and children below the age of 18 years can be included as dependants. All the documents and identity proofs have to be provided while applying for the visa. It takes around a month or more to be able to receive the response.
How can Osbourne Pinner help?
The Start-Up Visa is one of the most eased up and innovative ways for foreign Entrepreneurs with the potential to start their business in the U.K. No one would like to mess up on the formalities and legal documentation and would not want to be held back with an unsuccessful application. An in-depth preparation (documentation and other formalities) is required in order to be able to attain the visa. Osbourne Pinner, a seasoned immigration expert, is the best in business and aids in the immigration process. We help our clients right from the start of the application, complex paperwork and the U.K. immigration system and the legal advice in case of rejection. We make sure that everything falls in its place at the right time.