Tag Archives: Innovator Visa

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

image for article about the innovator 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.

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