The UK Scale Up Visa Requires To Fulfil 3 Important Criteria For A Successful Application!
If you’re an ambitious entrepreneur with a great business idea, the UK scale up visa is something worth considering. This visa programme is designed to help talented entrepreneurs grow businesses and create jobs in the UK.
However, there are three crucial criteria that must be met for an application to be successful. This blog post will look at those criteria and explain why they’re so important. So if you’re thinking of applying for the scale up visa UK, make sure you read on!
What are the UK Scale Up Visa Requirements for a Successful Application?
The UK is an amazing place to do business, with plenty of opportunities and a supportive environment for entrepreneurs. But before you can get started, you’ll need to meet the criteria for the UK scale-up visa 2022. Here are three important things you’ll need to do to be successful:
The applicant must have an endorsement from a designated UK startup or scale-up programme. Their endorsed skills must be of graduate level or RQF 6 equivalent. The sponsored job must be in the listed occupation code in Appendix Skilled Occupations filed under UK’s immigration rules.
Apart from the Certificate of Sponsorship (CoS), the job or business should have successfully run for six months. Needless to say, the job or business must be legal and bring value in terms of growth and job opportunities. You may fulfil the visa requirements without the endorsement only if you’ve previously been granted permission as a scale-up worker. In addition, you must have a valid TB certificate.
Your business should have a record of success, as evidenced by financial statements and other metrics. The demonstrated annual growth of the business should be at least 20% for a period of three years.
This will also work as evidence that you have already established your business in the UK, including registered office addresses and details of any employee time management already based here. Your business must have a minimum of ten employees during the three years. There should also be a plan to hire more employees to increase the team.
Besides, a detailed growth plan should show your business will scale up in the UK. There should be a comprehensive understanding of your regulatory environment and market opportunity.
As financial proof, your yearly earnings must be £33,000 per year or more. The per-hour rate or going rate for the job should be £10.10 per hour. Note that only gross earnings are taken into consideration, not including any additional pay or benefits. You must show proof that you have committed investment funds available.
Either personal funds or third-party investment may back these up. And finally, you’ll need to prove that you have the skills to keep the business afloat with these finances. There is one exemption for finances when applying for the scale-up visa.
The applicant must have a minimum of £1,270 for at least 28 consecutive days before applying for the UK scale up visa. Another way for the exemption is to ask your sponsor to confirm the maintenance costs on the Certificate of Sponsorship.
Getting the UK scale up visa has several benefits, including business growth with or without a sponsor, provided you meet all the necessary criteria. You may want to connect with an immigration specialist when applying for the scale-up visa. These professionals have in-depth knowledge of the process and may help ensure your application is as strong as possible.
Their expertise can save you time and hassle in the long run by helping you avoid common mistakes made during the application process. So if you’re looking to grow your business in the UK, contact Mishoura for help! They will connect you to an experienced immigration lawyer.
“Written By – Omar Shams”