Investing In United Kingdom
The United Kingdom (UK) offers opportunities across various sectors, including finance, technology, healthcare, and real estate. The UK boasts a stable political environment, strong legal framework, and well-developed infrastructure, making it an attractive destination for foreign investors. London, in particular, is a global financial hub, while cities like Manchester and Birmingham are emerging as centers for technology and innovation
What Are The Benefits Of Starting a Business In United Kingdom?
Starting a business in the United Kingdom offers numerous benefits, including access to global markets facilitated by strong trading relationships, a business-friendly environment with straightforward regulations and incentives for startups, a highly skilled and diverse workforce, opportunities for innovation and research collaboration supported by renowned institutions, well-developed infrastructure and connectivity, and a high standard of living with quality healthcare and education.
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Sponsorship Licence For Bringing Workers To The UK
A Sponsorship Licence is granted to companies located in the United Kingdom to bring workers from another country, including Turkey, to the UK for employment purposes. Both Sole Traders and Limited companies based in the United Kingdom can apply for this licence. To bring workers with a Sponsorship Licence, the following steps need to be completed:
- Stage One
- Company Establishment (if the company does not exist) and preparation of tax and corporate bank account:
A detailed list of documents will be shared by us at the beginning of the process. This process takes an average of 1.5-2 months. The documents required may vary depending on the characteristics and activities of the company. However, initially, basic information about the company is obtained (such as Paye No, VAT no, company bank statements, etc.). Some other information that needs to be provided about the company includes working hours, job codes, minimum wage, and desired qualities in future employees.
- Stage Two
- Submission of Sponsorship Licence Application under the sponsorship of a UK Citizen or someone with Indefinite Leave to Remain (ILR) in the UK:
The Home Office processes current applications within 8 weeks. If the Home Office accepts the licence application, it qualifies for an A-type licence, which allows for the employment and residence permission of up to 10 workers.
- Stage Three
- Applying for the Skilled Worker Visa:
After the Sponsor Licence is approved, the visa application for the desired worker is processed within a 4-5 week period. It must be committed that the worker being brought in will receive an annual salary of £25,600 gross, and the worker must obtain a B1 English certificate from any institution approved by the Home Office. The worker can apply for the visa for up to 5 years and can bring their family to the UK as dependents. The Home Office has listed professions eligible for worker immigration, and the worker being brought in must be a professional in one of these occupation groups.
Document Checklist For Sponsorship Licence
COMPANY DOCUMENTS:
- Company Insurance (Employers Liability Insurance must be minimum £5 million)
- 3 months’ Company Bank Statements
- List of employees in your company – should be in hierarchical order, listing the names and positions of individuals
- Lease contract, certificates, licenses for the workplace
- PAYE documents
- PAYE Reference letter, PAYE/NIC payments
- VAT certificate if applicable
- Corporation Tax Return – must be for the current financial year
- Certificate of Incorporation (from Companies House)
- Share certificate (for limited companies with partners)
- Partnership Agreement if applicable
- Companies House Documents (if possible, all changes)
DOCUMENTS BELONGING TO THE COMPANY LICENCE HOLDER:
- Passport
- Unlimited residence card if not British
- Proof of address with a sample invoice and lease contract
Why Invest In United Kingdom?
Investing in the United Kingdom offers numerous benefits, including access to global markets facilitated by strong trading relationships, a business-friendly environment with straightforward regulations and incentives for startups, a highly skilled and diverse workforce, opportunities for innovation and research collaboration supported by renowned institutions, well-developed infrastructure and connectivity, and a high standard of living with quality healthcare and education. Additionally, the UK’s strong legal framework protects intellectual property rights, while its vibrant business community provides networking opportunities for entrepreneurs to connect with mentors, partners, and investors, making it an attractive destination for launching and growing a business.
FAQs
Are there specific legal requirements for foreign entrepreneurs?
Foreign entrepreneurs establishing businesses in the United Kingdom need to register with Companies House, choose a suitable business structure, obtain necessary visas, understand tax obligations, comply with employment laws, ensure regulatory compliance, protect intellectual property rights, and seek legal advice as needed.
What is the market like for my business in United Kingdom?
The United Kingdom presents a diverse and dynamic market for entrepreneurs across sectors like finance, technology, healthcare, manufacturing, retail, and services.
Are there any incentives or exemptions for new businesses?
The UK provides various incentives and exemptions to support new businesses, including tax relief schemes, start-up loans, R&D tax credits, business support programs, enterprise zones, grants, the Start-up Visa, and the Patent Box Scheme.
