The Self-Sponsorship Visa
The Self-Sponsorship visa provides a pathway to settled status in the UK through your UK business. Permanent residence or Indefinite Leave to Remain (ILR) is a prerequisite for British citizenship and can be achieved after completing 5 consecutive years on this route.
Who should consider this pathway?
This strategic pathway is ideal for experienced foreign investors looking to expand their existing overseas business to the UK. It is equally suitable for investors looking to set up a completely new entity. The pathway also caters to applicants wanting to invest in and run an established UK company with a proven track record. There are no restrictions on the type of business you can undertake; however, minimum salary levels for roles within the business must be adhered to.
Key Requirements
The requirements for this pathway are broad:
- Access to capital is mandatory to cover operational costs for the UK venture. There is no minimum investment level required. To determine the investment level needed, a detailed business plan should be in place.
- Research into UK laws and practices for running a UK company is essential.
- The main applicant’s English proficiency must be equivalent to B1 IELTS in reading, writing, speaking, and listening.
Key Benefits
- Five years to settled status in the UK with fairly flexible residency requirements. However, be mindful of the more stringent residency needs for citizenship at year 6.
- Partners and children (under 18) can accompany the main applicant to the UK.
- Access to healthcare and free education for children until 18.
- Control of your own business, which is a significant advantage for experienced business applicants. You are not relying on an employer to guide you through the five-year qualifying period for ILR.
This pathway addresses many needs, especially in light of the closure of the Tier 1 Entrepreneur Visa and the Sole Representative Visa. However, it is crucial to consider all the requirements thoroughly before pursuing this pathway.
Authored by Adeeb Chowdhry, who serves as the Director and Head of the Business Immigration Department at Farani Taylor Solicitors. You can contact him at adeeb@faranitaylor.com or by phone at +44 207 242 1666.