Save Smart, Move Smart: Navigating the UK Self-Sponsorship Visa Affordably

Moving to the UK on a Self-sponsorship Visa is an attractive option for entrepreneurs and business owners who want control over their immigration and business operations without relying on third-party employers. However, the costs involved in following this route can be a big setback for some aspiring applicants. As such, ensure that you can meet the financial obligations associated with the Self Sponsorship Visa UK route. This guide explains the UK Self-sponsorship Visa, its eligibility criteria, savings strategies to navigate the visa affordably, and its step-by-step application process.

Understanding the Self-sponsorship Visa?

Self-sponsorship is an immigration method that allows non-UK citizens to sponsor their work visa by running a business and entering the United Kingdom as employees of their companies. In the UK, the term “Self-sponsorship Visa” is not an actual visa name. Rather, it just refers to a broad immigration pathway that enables foreign nationals to sponsor themselves to work through their own company without the requirement for a traditional employer to sponsor them.

The process involves purchasing or establishing a UK-based business, which subsequently applies for a sponsor licence to the Home Office. After the Home Office acknowledges the company as a sponsor, it can issue a Certificate of Sponsorship (CoS) to the business owner, who can now apply for a Skilled Worker Visa to enter the UK as an employee of the company.

Eligibility Criteria for a UK Self-sponsorship Visa

To qualify for a Self-sponsorship Visa, you must meet certain eligibility requirements. The exact requirements to fulfill mostly depend on your circumstances. However, the Self-sponsorship Visa eligibility requirements include:

• You are aged 18 or over.
• You have set up a genuine UK company.
• You have a genuine job offer.
• The job is at an eligible skill level.
• Your company must have applied for a Skilled Worker sponsor licence to sponsor you.
• You have received a valid Certificate of Sponsorship (CoS) for the job you’re going to do in your company.
• Your employer has paid the Immigration Health Surcharge (IHS) on your behalf.
• The salary you will receive can meet or be above the “going rate” for the relevant SOC 2020 occupation code, as well as a general salary threshold. Hence, you must earn at least £38,700 per year, or £30,960 and £34,830 if you score alternative tradable points as a worker.
• You can access sufficient funds to cover your expenses in the UK without relying on public assistance.
• You can demonstrate your English language proficiency at the Common European Framework of Reference for Language (CEFR) level B1 (intermediate).
• Your Tuberculosis (TB) test certificate is available.
• You have a clean criminal history (if applicable).

Note that immigration rules are subject to change periodically. As such, you must be up to date with the recent changes and align your Self-sponsorship Visa accordingly. That said, you may need the help of an immigration lawyer to help you with the Self-sponsorship Visa application to submit a comprehensive application in compliance with the recent UK immigration rule updates, giving you a higher chance of success.

Saving Strategies and Smart Fund Sources for UK Self-sponsorship Visa

Moving to the UK through a Self-sponsorship Visa requires a significant financial commitment. The following tips can help you have enough finances to afford the route before applying:

• Create a budget to track expenses: You can break down potential costs into three phases, such as business setup, sponsor license, and Skilled Worker Visa application.
• Cost reduction: You can identify and eliminate unnecessary expenses, even if it requires downsizing living arrangements and entertainment spending.
• Financial backing: Secure more financial support from your friends or family. You can properly document your agreements to prevent future complications.
• Seek low-interest loans: Check your options for a line of credit or low-interest business loans to assist you with the start-up and initial operating expenses. Additionally, examine government-backed lending programs or initiatives that support business owners.
• Consult an immigration solicitor: You can seek advice from an experienced immigration solicitor to craft a comprehensive financial plan that aligns with the UK visa requirements, tailored to your financial capability. This can provide you with a bird’s-eye view of your expected expenses and help you source funds early.

Step-by-step Application Process for Self-sponsorship Visa UK

The following steps can help you obtain a Self-sponsorship Visa:

• Establish a company in the UK: To set up a business in the UK, you must:
  • Register a UK company or use an existing one.
  • Develop a business plan showing the viability and growth potential of the business.
  • Obtain a corporate bank account from a bank registered in the UK.
  • Get appropriate business premises.
  • Ensure your business complies with the UK business legal and regulatory requirements.
• Apply for a Skilled Worker Sponsor Licence: After registering the business, you can do the following:
  • Apply for a Skilled Worker Visa sponsor licence through the Home Office website.
  • Gather the required documents, such as evidence of business registration, a financial statement, and proof of compliance with the UK employment laws.
  • Pay the application fee.
  • Welcome the Home Office for a compliance visit. They may come to determine the suitability of your business to sponsor you as an employee.
  • Obtain a sponsor licence.
• Obtain a Certificate of Sponsorship (CoS): You’ll need a CoS to apply for a Skilled Worker Visa to work for your company to attain self-sponsorship. To achieve this, you must issue a CoS to yourself through the Sponsor Management System (SMS) using Level 1 User or Authorizing Officer credentials. It must confirm a genuine role that meets the Skilled Worker Visa criteria. The CoS must specify your salary, job title, and other related details about you as a Skilled worker.
• Complete the UK Skilled Worker Visa application using your CoS reference number. Pay the required fees, and then collect your visa once it is ready.

What’s Next?

While the Self-sponsorship Visa route to the UK offers business owners the freedom to manage their immigration and business operations, it usually requires a substantial investment of funds. You can achieve success by cutting expenses without compromising it by eliminating unnecessary costs and budgeting carefully. With a correct budget and access to funds, you may establish your ideal life in the UK without financial pressure by saving and moving wisely. You can seek legal advice from an immigration solicitor to give you a breakdown of all the current costs of obtaining a Self-sponsorship visa, ranging from establishing a UK company to applying for a Skilled Worker Visa.