Many overseas entrepreneurs move to the UK each year to set up a new business venture. The UK’s robust economy, welcoming environment for entrepreneurs, and ease of doing business make it an excellent place to start a new company. The sky is the limit when it comes to choosing the type of business to set up in the UK. Whether you are looking to start a small business or invest in a larger venture, the potential for commercial success is enormous. As a business person with plans to start a new venture in the UK, it is important to understand the immigration routes available to you and your family. This guide discusses 10 of the most popular business opportunities for immigrants in the UK and the most suitable visas for each.
1. Tech startups
The UK is a global hub for technology and innovation, particularly in cities like London, Manchester, and Edinburgh. Tech startups in areas such as fintech, artificial intelligence, and cybersecurity are booming. Indeed, London is now considered to be Europe’s biggest hub for generative artificial intelligence (genAI), with around one-third of Europe’s new startups in this rapidly emerging field. London has also been voted the most supportive hub for AI development.
Suitable visa categories
The Global Talent Visa is an excellent choice for digital technology leaders and potential leaders. With this particular visa, you have a choice of being an employee, self-employed, or director of a company. In addition, you can stay for up to 5 years and then apply for permanent settlement. You will need to have your application endorsed by Tech Nation to confirm that you are considered a leader or potential leader in digital technology by your peers. Another option is to apply through the self-sponsorship route. This is particularly popular with IT consultants who want to register their own business in the UK and sponsor themselves.
2. Retail businesses
The UK’s retail sector offers great opportunities for immigrants. Whether you are interested in opening a local grocery store, a specialist shop, or an online retail business, there is almost limitless potential for success.
Suitable visa categories
If you already have a retail business in another country and you wish to expand into the UK market, then you should consider applying for a Global Business Mobility Expansion Worker visa. This will allow you or another senior member of your business to come to the UK to establish a wholly-owned branch or subsidiary.
On the other hand, if you want to start an entirely new business in the UK, you can apply for an Innovator Founder visa.
3. Franchising
Franchising offers an excellent way for immigrants to enter the UK business market without taking on considerable risk. The UK has a wide range of franchises on offer, from food establishments such as Subway and Costa Coffee, to gardening businesses such as Green Thumb and car repairers such as ChipsAway.
Suitable visa categories
If you are planning to buy and operate a UK franchise, the Innovator Founder visa is likely to be the most suitable visa for your needs. You will need to prove that your business is innovative, scalable, and viable. One way to achieve this is by buying into a new franchise and providing a new and innovative service.
4. Real estate investment
The UK property market continues to be an attractive investment option. As of September 2024, house prices are trending upwards at the highest rate since 2022. Whether you are interested in residential or commercial properties, UK real estate offers lucrative opportunities.
Suitable visa categories
At present, there is no legal requirement for overseas investors to hold a visa or be a resident of the UK to purchase property here. That said, real estate investors should always be alert to the possibility of change, such as additional stamp duty for non-UK nationals.
5. Healthcare Services
With an ageing population and increasing demand for healthcare services, the UK’s healthcare sector offers excellent opportunities for immigrants. This is especially so because the NHS is in high demand and is struggling with large waiting lists for treatment and other services. Healthcare opportunities may include setting up a private medical practice, a care home, or a healthcare consultancy.
Suitable visa categories
The Health and Care Worker Visa is suitable for qualified medical professionals who wish to work in the UK’s healthcare sector. If you wish to start your own business in this sector, the Innovator Founder visa is likely to be the most suitable option. If you plan to go into consultancy in this area of health and care, you may also be able to consider self-sponsorship, whereby you set up a business in the UK and sponsor yourself to work here.
6. Food and Beverage Industry
The UK is world-renowned as a melting pot of cultures, providing an opportunity for overseas nationals who want to set up a business providing their native cuisines to a new market. A restaurant, café, or food truck may be highly successful in multicultural cities like London, Birmingham, or Manchester.
Suitable visa categories
To start a food and beverage business in the UK, you can apply for an Innovator Founder visa as long as you demonstrate that your business is truly innovative, viable, and scalable. For example, if you plan to provide a completely new type of cuisine that is not currently available in the UK.
7. Education and Training Services
The UK is renowned for having some of the world’s most prestigious educational institutions and has a strong demand for quality education and training services. There is currently a strong demand for tutoring centres, online education platforms, or vocational training institutes. According to one market insight company, the UK’s education market was estimated at US$280 billion in 2022 and is expected to reach around US$510 billion by 2032, with an annual growth rate of around 15%.
Suitable visa categories
If you are interested in meeting the UK’s growing demand for educational services, the Innovator Founder visa is an excellent immigration route to consider. Again, you must be able to demonstrate that your business is innovative, viable and scalable in order to gain endorsement.
8. Creative sector
The UK is well known for its thriving and dynamic creative sector, especially film, TV, music, fashion, design, digital media, and the arts. This brings with it many new business opportunities for those with a background in art and design, writing, music production, architecture, and TV and film production.
Suitable visa categories
The Global Talent Visa is particularly suitable for individuals who are recognised as leaders or emerging leaders in fields such as arts and culture. This visa allows talented individuals to be employed or self-employed and live in the UK for up to 3 or 5 years and then apply for permanent settlement.
For those who may not yet meet the criteria for the Global Talent Visa, the Skilled Worker Visa is an excellent option for creative professionals employed by UK-based creative companies. For those who wish to run a business in the creative sector, the Innovator Founder visa may also provide a suitable immigration route, especially if they have an innovative business idea.
9. Renewable energy
It is estimated that the UK’s renewable energy market is currently worth around £23 billion, and this is expected to rise considerably with the push towards decarbonisation. This offers enormous opportunities for overseas investors and immigrants looking to set up a new business in the UK. There are many business opportunities in the UK renewable energy market, including the provision of consultancy and heating and solar power services for businesses and homes.
Suitable visa categories
The Innovator Founder visa may provide a suitable immigration route if you wish to set up a completely new and innovative business in the UK. If you are interested in consultancy, the self-sponsorship route may provide an excellent option. Self-sponsorship will allow you to register a business in the UK, secure a sponsor licence, and sponsor yourself to work in the UK in your chosen sector.
10. E-commerce
E-commerce remains one of the fastest-growing commercial sectors in the UK. If you already have an e-commerce business, you may wish to expand into the UK market. Or if you are keen to create a whole new business enterprise, the UK is an excellent place to base yourself. The two biggest e-commerce markets are clothing and consumer electronics. In addition, there is currently enormous demand for warehousing due to the enormous expansion of e-commerce in the UK.
Suitable visa categories
If you are considering setting up a completely new and innovative e-commerce business, we recommend applying for the Innovator Founder visa. If you wish to expand your existing e-commerce brand into the UK, the Global Business Mobility Expansion Worker visa will allow you to do so. Finally, if you are considered a leader or potential leader in digital technology in the area of e-commerce, the Global Talent visa may be ideal for your needs.
Final words
For help with any aspect of setting up a business in the UK as an overseas business person, please speak to one of our expert business immigration lawyers. Depending on the route you choose, they will guide you through the visa, endorsement, and/or sponsor licence processes, ensuring that your application and those of your family members have the very best chance of success. By letting us handle your immigration requirements, you can concentrate on your business plans for the UK. We wish you all the best with your new business venture in the UK in 2024 or beyond.
A Y & J Solicitors is a specialist immigration law firm with extensive experience with all types of visa applications. We have an in-depth understanding of immigration law and are professional and results-focused. For assistance with your visa application or any other UK immigration law concerns, please contact us on +44 20 7404 7933 or contact us today. We’re here to help!
