Among many other options for business visa UK, the UK self-sponsorship visa stands out as one of the most preferred and promising routes for getting a visa that helps you with citizenship and achieving business goals, especially if you are an overseas business owner from a non-European countries like the US.
The business conditions in the UK and the US have both challenges and advantages.
The US is popular for its wide-ranging market, large customer base, and an ecosystem that is entrepreneur-centric. On the other hand, the UK opens the gates to the European market with a less strict regulatory environment for specific industries. However, for US citizens who want to establish or grow their business in the UK, getting a business visa becomes a very significant step. And this is where the UK self-sponsorship visa route becomes savvy for you.
In this article we will guide how US citizens can leverage the self-sponsorship visa route for establishing or growing their business in the UK.
What is the UK self-sponsorship visa route?
The UK self-sponsorship visa route is an extension of the Sponsor licence and a skilled worker visa. If you are an overseas resident and interested in establishing your business in the UK, then Via the self-sponsorship visa route you open a UK-based organisation and sponsor yourself for a skilled worker visa. This route gives US citizens more autonomy as they are the employees and employer both surpassing the need to get sponsorship from a third party.
Distinguished Benefits of UK Self-Sponsorship Visa Route for US Citizens
- Liberty to make decisions:
US citizens can completely avoid depending on any third parties to sponsor themselves for a business visa under this route. They are on their own to take decisions as they act as both employer and employee.
- Opportunity to become a UK resident:
After getting a skilled worker visa, and completing 5 years, the US citizens can become eligible to settle in the UK.
- Bringing dependants to the UK:
Your family can join you in the UK after you have fulfilled the requirements that make the self-sponsorship visa route a friendly option for you and your family to reunite.
- Tax Benefits:
By starting your own venture in the UK you can get access to business owner-friendly tax benefits and trading routes. This can support you in expanding to the UK market at large while also leveraging tax benefits.
Step-by-step guide for US citizens to get the sponsor licence visa:
- Starting a Company in the UK:
Your journey to attain UK self-sponsorship starts with establishing a new business in the UK. The usual way is to establish a private limited company, which has limited liability and an easy setup process. While you establish a company, you will also have to meet the prerequisites, like opening a bank account and preparing a business plan to support your visa application.
- Get a Sponsor Licence:
The next step is to get your established company to apply for a sponsor licence from the UK Home Office. The licence’s purpose is to help your company to sponsor the overseas worker (in case of a self-sponsorship visa, it would be you)
The requirement of the application will be to show the genuineness of your business and your need for a skilled worker.
Here is a list of documents you would need:
- Certificate of incorporation
- Recent bank statements
- A definite outline of business activities and premise
The process of application could take approximately eight weeks. If you are a US citizen who is very new to UK business requirements having a professional solicitor by your side can ensure fewer visa rejections and more success.
- Issuing the Certificate of Sponsorship
Once you are approved as a legitimate sponsor by the home office, you can issue yourself a certificate of sponsorship. The certificate contains a reference number, details of your roles and responsibilities, and the remuneration you are getting. It is important to note that your skills must match the pay you are getting (according to the threshold set by the authorities)
- Applying for a skilled worker visa
After obtaining the certificate of sponsorship, you can apply for a skilled worker visa, which lets you live and work in the UK. You will be needing the documents mentioned below to start with it:
- Valid passport
- CoS reference number
- Proof of English language proficiency (usually waived for U.S. citizens)
- Bank statements to confirm you can support yourself
- Criminal record certificate, if applicable
After completing the application, you would need to get an appointment for biometric verification. This process can typically take approximately three weeks. A thing to be noted – you need to plan this well in advance.
Important things to be noted for U.S. Citizens:
- Mitigate the Double Taxation
As a US citizen, even when you are residing in the UK you need to pay tax and file a U.S. Tax Return. So it is advisable to connect with an expert who can guide you in managing your taxes and has an understanding of any treaties that can help you mitigate the double taxation.
- Following the compliances:
Your company that is established in the UK must follow and abide by the UK employment and immigration regulations which include regularity in payments for the Immigration Skills Charge and keeping consistent checks and compliance checks. If you are not able to follow these compliances it may end in revocation of your sponsor licence.
- Business Survival
Conducting market research before applying for the self-sponsorship visa is a must. You need to understand if your business will work or not in the UK market. It is very important that while you curate your business plan it must be a viable business and sustain in the UK market.
Conclusion:
While the self-sponsorship visa route proves to be the most attractive option for US citizens, it requires diligent and well-in-advance business planning. In return, you can expect growth and opportunity to settle in the UK with your family.
Hire an expert before you even think about this process as do it yourself project.
