Did you know 1.29 million non-EU nationals were working in the UK at the end of 2018? If you’re considering moving, we can help.

Are you wondering how to start a business abroad? Not to worry! In this guide, we’ll go over steps to take when moving to Britain.

Want to learn more? Keep reading to find out.

1. What Is Your Visa Status?

First, you must find out if you can become a business owner in the UK. This will depend on your nationality and immigration status.

The UK immigration system involves points and various tiers. For example, Tier 1 Entrepreneur visa is for people who want to start a new business, invest, or buy a property.

If you are a non-EU national, you will need to get the necessary permit and visa. File your application right away. You will have to wait for a certain amount of time.

You can apply for this visa while outside the UK or staying in the UK. If applying outside of the UK, you will need to show a certain amount of funds in your bank account.

2. Create a Business Plan

If you’re starting a business, make sure you work out your business plan ahead of time.

Research what businesses could succeed well in the UK. Prepare budget forecasts and look into the market.

3. Guidance from UK Trade and Investment

You can get free help from UK Trade and Investment. There are free services available there for any companies looking to locate or invest in the UK.

They can answer questions about taxes, visa applications, staff recruitment, and location advice.

4. Choose a Name for Your Business

You can use your name if you’re a sole trader. When it comes time to register your business and join the company register, you’ll need an address.

If you are a limited company, you have to register a name. Others will register to keep another business from trading under that name.

5. Register with Customs and HM Revenue

For tax purposes, you’ll need to register your business with HMRC. If you’re a limited company, you’ll need to also register with Companies House.

Do you plan to work from home? You’ll still need to sign up with HMRC as a self-employed taxpayer.

If you own a business, read more about what can qualify for tax relief.

6. Apply for Licenses, Permits, and Insurance

Depending on the type of business you’ll have, you may need permits or various licenses.

For example, you might want to sell food or alcohol. Or do you plan to trade in the street or perform live music? Look into rules you need to follow if you plan to sell goods in a store or abroad.

You’ll also need to research insurance for your business.

7. Sole Trader or General Partnership

If you want to run a business on your own or work as self-employed, you will be a sole trader in the UK.

If you are working with one or more people, your business will be a general partnership.

The responsibilities get shared between partners, along with the profits. Each partner will have to pay taxes on their shares.

They are also liable for losses and debts. This is one of the top options for small businesses in the UK.

8. Limited Partnership

With a limited partnership, there is one leading partner who will run the business in the UK. This individual’s responsible for any business debts.

There is also at least one ‘limited’ partner. They will provide finances and are only liable for the amount they give.

9. Registering Property and Construction Permits

If you need to build a business, the construction process is quite straightforward. It can take up to 100 days, and there are up to nine procedures.

Getting permission and organizing the sewerage and water will take the most time. Registering your property will take up to 22 days.

UK Power Networks will take care of electricity connections. This can take up to 100 days to finish everything.

Submit plans and get an inspection finished before the connection gets completed. Try to find a supplier with a competitive rate.

10. Getting Credit

In the UK, there is a robust financial sector and credit to develop and start-up businesses. Research to find out what kind of credit will suit your specific business.

11. Consider Location When Moving to Britain

Different spots in Britain will offer various advantages and their unique culture. What are your technical and infrastructure needs?

Once you have a list of places, next, you’ll want to research the availability of utilities.

Find out more about commercial leasing policies. See if there are similar businesses. You’ll want to know about your competitors before you move. 

12. Think About Your Future Employees

If you’re moving to a competitive district like London, you’ll want to think about ways to keep workers.

Try and set up a business in a nice part of the area and provide unique benefits. Treat your team to lunches out. This way, you can keep your employees happy. If you keep up the office morale, you will have a more productive team. 

Want to Learn More?

We hope you found this guide on starting a business in the UK helpful. When moving to Britain, make sure you have your business plan and name complete.

If you want to check out other helpful resources, don’t forget to save our site.