UK self sponsorship visa: A new route to gain entry in foreign market
Self sponsorship visa is a new way to gain access to the foreign market as British SME market and possible citizenship for business owners
Anushruti Singh June 10, 2022
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UK self sponsorship visa: Businesses’ ultimate goal is to expand, whether it’s small or enterprise. Selling your product or service in another country allows organisations to enter new foreign markets, increase sales and profits, build brand recognition, and reduce the risk of only operating in one market in case of economic slowdowns.
Organisations that wish to enter foreign markets such as the UK have few options. The main options are, viz., the UK Sole Representative visa, the Innovator visa, and the Investor visa. However, these options have limitations. The majority shareholders are unable to apply for the Sole Representative Visa. The Innovator visa applies only to those who have innovative ideas and businesses. Investor visas are only allocated to those who have £2m to invest. These limitations preclude a vast number of smaller business owners.
Speaking to SME Futures, immigration expert, Yash Dubal, Director at AY & J Solicitors, suggests a new way to gain access to the British SME market and possibly citizenship for business owners who do not qualify for regular UK visas.
Dubal has identified a process that will enable many Indian entrepreneurs and start-ups to expand into the UK. Dubal’s recommendation of a self-sponsorship route applies to those business owners who do not qualify under the current criteria.
Under Dubal’s process, the smaller business owners can now set up or buy a business in the UK, register it with the UK Government Department that assigns visa sponsorship licenses and finally use the license to allocate themselves a Skilled Worker Visa.
Dubal said, “This is a new and innovative idea that no one is talking about but that works well for entrepreneurs that do not qualify under the other rules. It is a very good option for someone who doesn’t qualify for a Sole Representative visa because they are a majority shareholder, or who hasn’t got £2m to invest.
“As long as you have a genuine intention to open a business in the UK and want to run an active trading company in the UK, you can follow this route and get a skilled worker visa to work within that business.”
Business people from Gujarat can now open British businesses with very little investment apart from accountancy fees. There is no minimum or maximum investment required under this process.
“After five years, one may also qualify for residency and after six years, for citizenship. One can bring over his or her spouses and children under 18,” adds Dubal. “This self-sponsorship route is not widely known or practiced, and we have been doing this for 13 years and are a specialised multi-award-winning law firm.”
The UK SME sector is an attractive option for expanding Gujarati businesses. At the start of 2020, there were 5.9 million small businesses, up 1.9 per cent from the previous year. They are the lifeblood of the UK economy, accounting for 50 per cent of the total revenue generated by UK businesses and 44 per cent of the country’s labour force.