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Corporate Immigration to the UK
The United Kingdom is among the most open and welcoming countries for foreign-led startups. Some of the fastest-growing businesses in the UK are founded or cofounded by foreigners, and India represents the top 5 countries from which these entrepreneurs emerge.
Foreign businesses thrive in the UK because the government has created opportunities that attract innovative entrepreneurs and made company immigration processes smoother for business owners and their employees.
If you run an Indian-based company, you can migrate your business to the UK and access a diverse and developed market that can spur your growth. Read on to learn how to start your company in the UK and some legal considerations you should keep in mind.
There are several advantages of moving your Indian startup to the UK, and here are some:
According to World Bank research, the UK is the easiest location in Europe to start a business and the sixth easiest globally. British Business Bank states that about 360,000 new businesses are set up annually in the UK.
The UK government has made the business registration process easy and simplified, making it possible to complete most of the registration process online. The business setup is also very fast, taking about ten days to complete.
The UK also has a favourable regulatory environment that attracts entrepreneurs and has been ranked the third best for its least barriers to trade and investment. The government has long set up systems, such as the Cutting Red Tape programme, to free businesses in the country from restrictive policies and regulations that stifle growth.
The country also offers low tax rates. The small profits rate for corporation tax is 19% for single companies with Augmented profits of less than £50,000, while personal allowances are tax-free for income up to £12,57.
They’ve also provided schemes that offer grants and tax benefits, with over 100 funding programs for UK businesses. In addition, there are private avenues for securing funding from investors and incubators.
The UK’s economy is one of the fastest growing in the world. One primary reason for its rapid economic growth is its mix of traditional and progressive businesses.
It boasts highly profitable businesses, particularly in the finance sector, including international banks and investment firms. It also has a thriving manufacturing and services sector, and its technology and creative industries contribute to its rapid growth.
In addition, over the years, the UK government has been committed to infrastructure development in transportation, energy, and digital connectivity, which has improved the economy's productivity.
The UK is one of the best places to employ workers. Its labour laws support a variety of employment contracts, including permanent, casual, part-time, and zero-hour contracts, allowing businesses to hire according to their needs.
There are also immigration programs that support talent mobility. So, foreign-based businesses can relocate their staff when moving to the UK.
Before you can move your Indian startup to the UK, you must register the business. You should first determine the legal structure of your business. The UK has four main types of business structures: sole traderships, partnerships, limited companies, and limited liability partnerships.
Each option has different legal, operational, and tax implications. You might need to discuss with a UK corporate immigration lawyer to decide which company structure is appropriate for you.
Then, you should register your business name with Companies House, which is responsible for incorporating companies in the UK.
It’s also essential to determine and obtain any licences, permits, and insurance you’ll need to set up your business. Furthermore, you should set up your UK business bank account and register for corporation taxes.
As a foreign national, you must obtain a visa before legally moving to the UK. The primary visa for non-British entrepreneurs intending to set up a business in the UK is the Innovator Founder Visa.
To apply for this visa, you must prove that your business idea is innovative and different from anything else on the market. Before you can submit a visa application, your business or idea must also be assessed and endorsed by a Home Office-approved endorsing body.
In addition, you must prove that you have sufficient knowledge of English and you have at least £1,270 to support you in your first month in the UK. Furthermore, the visa costs £1,191, and you can get a decision on your application within three weeks.
The other visa options available to you will depend on your circumstances. For instance, if you are already in the UK and have recently graduated from a UK university, you can apply for a Graduate Visa. It will allow you to remain in the UK for two years and be self-employed.
Another option is to apply for a family visa if you have a British or settled immediate family member. This will allow you to be self-employed.
You can also have employees join you from India and work for your business in the UK.
One of the leading immigration pathways for talent mobility is the Global Business Mobility visa. It comprises five visas that will allow your employees to work temporarily for you in the UK, and they include
Senior or Specialist Worker Visa
Graduate Trainee Visa
UK Expansion Worker Visa
Service Supplier Visa
Secondment Worker Visa
You may also be able to use the Skilled Worker Visa to hire your Indian employees to work for you in the UK.
Before your employees can apply for these visas, you must obtain a sponsor licence from the Home Office authorising you to hire foreign workers. Once you become a licensed sponsor, you can issue your staff certificates of sponsorship, which they’ll use to apply for their visas.
There are opportunities in the UK market for foreign-led startups. However, to set up your business, you must comply with UK labour and immigration laws. If you are unfamiliar with UK immigration laws, you should consider speaking to a corporate immigration lawyer who can help you with all the legal aspects of setting up your business.
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