4 Steps to Enter the UK and Start a business

If you’re a foreign national who wants to start a business within the UK, you’re at the right place.

The UK isn’t only one of the largest economies on this planet but is the 6^th richest country with respect to GDP. Plus, it has the highest wealth per capita of all the economic superpowers. With a diverse consumer market, extensive legal structure, and an extremely stable economic system, it’s the dream of every entrepreneur to start up a business in the UK.

Here, our immigration lawyers in the UK discuss four simple steps to enter the UK and start a business.

Step 1: Get a visa

Your nationality will decide if you’ll need to get a visa. Residents of more than 40 countries need a visa to enter the UK. If you’re from one of those countries, you’ll need a visa, which will allow you to live legally in the UK. Before starting a business, you may also consider getting a work visa.

While applying for a visa may seem a tad overwhelming, it’s easy, provided you’ve got the right information. Since there are many different types of visas, asking your travel agent questions is important to ensure you apply for the correct one. Usually, UK visas are accepted or declined within 3 weeks.

Step 2: Consider your business structure

If you’re starting your business in the UK as a foreigner, find out the type of business structure that exists and thrives in the UK. Read about the tax payment and legal position of every business structure. Following are four categories of business structures within the UK:

• Limited company
• Limited liability partnership (LP)
• Partnership
• Sole trader

Step 3: Open and register a business bank account

To make your business in the UK better and to optimise international transactions, you should open a bank account as a non-resident. While registering a UK business bank account for non-residents isn’t easy (due to legal issues), it’s an essential step.

Step 4: Register your business for tax

Once you select your legal structure, registering your business with a UK tax corporation should be your next step. If you forfeit your tax payment, your business may be eradicated, which may also affect your stay within the UK.

Wembley Solicitors’ best immigration lawyers in London can assist you with legal issues

At Wembley Solicitors, our immigration solicitors in London pride themselves on fair/transparent costs, exceptional standards of legal services, and high success rates.

Give us a call now for more information on our UK immigration lawyers!