Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
Category Archives: Immigration
My Experience of the UK Business Visa System
If you’re considering a UK business visa, learning about other people’s experiences is helpful. For those unfamiliar with me or my work: I started my business in the UK as a 22-year-old international graduate on a business visa. After successful extensions and further UK business visas, I obtained permanent residency in the UK (Indefinite Leave to Remain). This was all through my initial business: StudyFlats. Firstly, allow me to elaborate that this is the old visa system and many aspects of this article may not be relevant today. Nor is this any form of immigration advice and it is solely my personal experience. I received two endorsements from Newcastle University for the Tier 1 Graduate Entrepreneur Visa (the former version of the current Start-Up Visa). I subsequently obtained a Tier 1 Entrepreneur Visa (T1E). The latter was the former version of the current Innovator Visa), although with different requirements. As part of the T1E visa extension requirements, the two below were the primary; Whilst they may seem relatively straightforward (though demanding), it was, in fact, quite the opposite. The manner in which the two requirements above were required to be demonstrated to the Home Office was quite complicated. For instance, your proof of investment or job creation would not be acceptable via bank statements/payment proof alone. I was required to enrol my staff on PAYE (provided by HMRC). Plus, the investment proof was subject to stringent requirements. The investment aspect on whether the money was invested via share capital or director’s loan. Below are just “some” examples of the concerns that I had; As stated, I received two endorsements from Newcastle University for my start-up, StudyFlats. Generally speaking, the process of obtaining endorsements can be long and complex. However, it is difficult to define a universal set of problems on this note. This is because endorsing institutions each have their own requirements. This is the case even under the current UK business visa system. This was very confusing and strict to adhere to. One example was when I wanted to rent an office space (as remote working was not yet the norm in 2019). I discovered that, by law, each person is entitled to a minimum space of 11 cubic metres. As I in fact was employing 4 people (instead of 2), this required plenty of time and consideration. Read more about this on the Health & Safety Executive (HSE). As mentioned earlier, the investment aspect itself was quite tricky. An example of this was that the director’s remuneration could not be counted as an investment. Moreover, deciding an investment structure (share capital vs. director’s loan) could have future ramifications if StudyFlats were to raise investment. Employing staff as a solo founder/director is tricky enough. Combine the latter with strict immigration requirements and the degree of complexity is limitless. This is particularly with strict employment laws being in force. Tip: there are lots of “P” forms that you will need to learn about. Therefore, I suggest cracking on with pre-emptive research if you’re planning to recruit staff. Last, but certainly not least, the biggest struggle was just managing and growing the company. Do a simple search about entrepreneurship challenges and you will come across SO much material, and perhaps millions of problems. Entrepreneurship is a tough journey. However, it can be extremely difficult when pursued in the business framework. This is not to discourage founders. If you have a viable idea/business that you believe in, you will overcome the challenges. If I could do it, then so can you! In short, UK business visas can be complex….. However, with the right mindset, management and direction you can overcome the complexity. As stated, the current UK business visa system does substantially differ from the Tier 1 Entrepreneur route. Need help with a UK business visa endorsement? As you have probably seen through my countless disclaimers (another aspect of being an entrepreneur in the UK), I am not an immigration advisor. However, I am a business consultant who can help you map the right idea and also help with your business planning. Better business planning and awareness will maximise your chance of getting an endorsement. And that’s why I’m here! Get in touch with me today for a free 1:1 introductory call. About My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats which I scaled to over 30 UK cities. I currently help other entrepreneurs and businesses of all size with the digital marketing strategy around SEO, copywriting and content. For more info, please visit here.
The Importance of the Innovator Founder Visa Business Plan
*Disclaimer: None of the content in this article, or this website, constitutes any form of immigration advice whatsoever. The material in relation to immigration on this website is solely “signposting”. Readers are encouraged to seek advice from a qualified advisor using the OISC’s website. Any opinions expressed on this website are those of the author and of a business nature, nor do they constitute any form of advice.* So you’re considering entrepreneurship in the UK, you may be wondering just how important the Innovator Founder visa business plan is. Now, before we go into the visa part, I have to state that common sense indicates that most viable businesses have a business plan. Going abroad is normally an experience that most people wouldn’t consider “easy”. Likewise, starting your own business, whether as an immigrant or native, is hardly an easy task. When you combine the two and seek to be an immigrant entrepreneur, you have many challenges ahead of you. Therefore, it’s really important to ensure you take adequate measures to get the first step right: your visa. In this article, I will be specifically talking about the Innovator Founder visa business plan, and why it’s key to get it right. So let’s go into why the business plan is vital for your Innovator Founder visa. I will also highlight some other reasons why you should have a solid business plan. The Innovator Founder visa business plan is necessary for endorsement According to UKVI, (the UK Home Office department responsible for visa applications), obtaining an Innovator Founder visa requires you to have the support of an “endorsing body”. As my consultancy has a key focus on Innovator Founder visa business plans, I have thoroughly researched these bodies. To save you the effort, I can inform you that basically, all these bodies will require a business plan (at a minimum). Therefore, you need an Innovator Founder visa business plan to be able to obtain an endorsement. Business viability and scalability As discussed above, your business plan is a key requirement for obtaining an Innovator Founder visa endorsement. Before starting a business, you need to ensure that your product or service will have viability and that there will be demand for your offering. Ket factors The process of writing a business plan involves researching various elements. These include (but are not limited to) the following: Without any validating research, your business idea is just the latter: an idea, based on assumptions. Conducting the research and drafting a business plan helps you validate those assumptions. Of course, any business is a risk. However, pursuing a business that is backed by research and market need makes it a calculated risk. Business plans are essential for funding And lastly, if you intend to raise funding from any type of investor, you will need a business plan. Plus, it’s noteworthy that you need a solid (and defensible) one. This article highlighted a number of key points with regard to the importance of an innovator founder visa business plan. If you wish to learn more, or need help with getting started on the business plan, contact me for more information. Find out more about my services for Innovator Founder visa business applicants HERE. About My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats.I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (which was replaced by the Innovator Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.
The Realities of Being a Foreign Entrepreneur
In today’s globalized world, being a foreign entrepreneur is becoming an increasingly popular phenomenon. Subsequently, there’s a growing body of academic and non-academic material revolving around migrant entrepreneurship. In this article, I’ll seek to highlight a number of realities about being a foreign entrepreneur, building on my personal experience. Firstly, allow me to state that being a foreign entrepreneur is not “all sunshine and rainbows” (as the famous Rocky Balboa once said). It carries an enormous amount of risk and can be a quite dark life path (anybody who says otherwise either lacks the knowledge or is lying to you). My purpose in writing this guide is to provide you with a “no BS” and informative piece of advice that can hopefully enable you to consider every aspect of this journey before embarking on it. There’s a good chance your mental health will suffer Let’s face it: there’s a reason why the majority of people don’t start their own businesses. First and foremost, there’s a huge amount of risk involved with no guarantee for any return. This factor alone is enough to make entrepreneurship a non-option for most. But assuming that you’ll proceed regardless of the aforementioned, the constant risk and uncertainty are bound to affect your mental health. Immigration rules can be rigid This is a broad observation, and it highly depends on the country that you migrate to. Nevertheless, you’ll be bound by some form of immigration legislation, and may have to meet specific milestones for extending your stay in the host country. As mentioned earlier, entrepreneurship is unpredictable in itself, let alone having to meet pre-defined goals. The worse part is that you may invest time and money, and still not meet those objectives. Not only are you jeopardizing your most valuable assets, time and money, but you may even have to leave the place that you deemed to be your new home (worst-case scenario, of course). Of course, as I mentioned, this is objective given that different countries have varying rules around their entrepreneur/startup visas. Personally, I went through the foreign entrepreneur journey via the UK’s former Tier 1 GE and Entrepreneur visas, and “easy” is not a word I would use to describe that path. Prepare for (a lot of) rejections I am generally under the assumption that most people associate rejection with employment applications, or their social and romantic lives. Hence, let me elaborate: it’s highly likely that you will have to endure a considerable amount of rejections. Whether it’s from prospective clients, customers, or funders such as VCs and angel investors, you will need to be ready for it. You may face a scarcity of resources Being a migrant may limit some of the business resources that are available to you. For instance, a native person may have access to business loans made available by banks. However, the same option may be unavailable to you due to you having a time limit on your stay. Again, this is a general and objective observation. It is best practice to be prepared for minimal resources and emphasize self-sufficiency. You may be seen as a “cash cow” This is something which I personally experienced in the early days, and it did irritate me a great deal. It was perhaps partly true, as I did invest a substantial amount of money in order to obtain my visa. But the unsettling aspect was the sense of exploitation that I felt when I sought to outsource the company’s projects. To give you an example: I started my company, StudyFlats, as a solo non-technical founder. As I had no idea how websites worked, I obtained some quotes for the website to be coded. Some of these quotes were in the region of tens of 1000s of pounds, for a simple WordPress website. Needless to say, I eventually did it myself at a cost of ÂŁ300. This is just one instance to demonstrate how fast you’ll lose your money if you lack the right skills and knowledge. Being a foreign entrepreneur is a life-changing experience Lastly, I will say that being a migrant entrepreneur is an experience that will shift your perspective and life direction indefinitely. Once you overcome the obstacles and grow your concept, you will realize your true competencies as a person, which you may have never imagined. I hope this guide has given you an idea about what to expect in the bittersweet journey of migrant entrepreneurship. If you require any consultation from someone who’s been there and done it before, ping me for a chat here. About My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, I started my own Property Technology (PropTech) business, StudyFlats. I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (which was replaced by the Innovator Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.
The Challenges of Being an Immigrant Entrepreneur
Starting a business as an immigrant entrepreneur can be challenging. There are many uncertainties along the way that might make it difficult to take the leap and start your own business. In this article, I’ll explore some of the challenges you may encounter when starting your own business abroad as an expat, and what you can do to ease the process! The hardships of being an immigrant entrepreneur Starting your own business is hard enough, but add in the challenges of being an immigrant entrepreneur and it can seem downright impossible. From finding the right visa to accessing capital, there are a number of unique hurdles you’ll need to overcome. But don’t despair – with careful planning and a bit of tenacity, you can make your migrant entrepreneurship dream a reality. Here are some of the challenges you may face, and how to overcome them. One of the first challenges you’ll face as a migrant entrepreneur is finding the correct visa. Depending on your country of origin and destination, there may be a number of different visas available to you. However, not all visas will allow you to start your own business – so it’s important to do your research before making any decisions. Once you’ve found the right visa, the next hurdle is accessing capital. Without the right financial backing (though the amount varies depending on the destination), it can be difficult to get your business off the ground. You may need to consider alternative financing options such as crowdfunding or small business loans. Another potential challenge is language barriers. If you’re not fluent in the language of your destination country, it can be difficult to communicate with potential customers or partners. The Road to Success As a migrant entrepreneur, you will face many obstacles on the road to success. But, with hard work and determination, you can overcome these obstacles and achieve your goals. One of the biggest challenges you will face is finding funding for your business. Many banks and investors are reluctant to lend money to immigrant entrepreneurs because they perceive them as high-risk. However, there are a number of organisations that provide loans and other financial assistance to immigrant entrepreneurs. Another option is to raise funds through crowdfunding platforms such as Crowdfunder. You will also need to deal with visa and immigration issues. This can be a complex and time-consuming process, but it is essential to ensure that you have the right to live and work in your chosen country. Another challenge you may face is cultural differences. This can be a barrier to networking and building relationships with potential customers and clients. It is important to research the culture of your target market and adapt your communication style accordingly. Despite the challenges, being a immigrant entrepreneur can be a very rewarding experience. You will have the opportunity to build something from scratch, create jobs, and make a positive impact in your community. With dedication and perseverance, you can achieve success as an expat entrepreneur. End of the Challenge As an immigrant entrepreneur, you may have faced many challenges along the way. But don’t give up! You can overcome these challenges and be successful in your venture. Here are some tips to help you end the challenge: 1. Stay positive and motivated It can be easy to feel defeated when you’re facing difficulties, but it’s important to stay positive and keep going. Remember why you started your business and what your goals are. This will help you push through the tough times. 2. Seek advice and support There’s no need to go through the challenges alone. Seek out advice and support from family, friends, mentors, or other entrepreneurs. They can offer valuable insights and help you find solutions to the problems you’re facing. 3. Be persistent Success seldom comes easy, so it’s important to be persistent in pursuing your goals. Don’t give up when things get tough. If you keep working hard, you will eventually achieve your objectives. If you’re seeking help with setting up your business abroad and require consultancy, check out my services or contact me to find out how I can help! About My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats.I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (which was replaced by the Innovator Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.