- Breaking into the UK market becomes easier with the Overseas Business Representative Visa leading the way.
There are a lot of things to consider when starting a business. Knowing where to start your business is among them.
The 67 million population, a GDP of over 4.2 trillion pounds, ease of communication, and a straightforward regulatory framework make the UK a fertile ground for international businesses. Hence, through the representative of an overseas business visa, a company can break into the UK market and take advantage of all that they have to offer. How?
Employees of foreign newspapers, broadcasting organizations, and news agencies can come into the UK for a long-term assignment through an Overseas Business Representative Visa. Senior employees who wish to establish and run a UK branch or subsidiary of their foreign company can also come through this visa. This is something anyone should know about when starting a business abroad, including the UK.
Since one of the requirements of this visa states that the parent company must already be registered and trading abroad, the company need not incorporate again in the UK. Another reason why incorporation is not needed is that the visa is meant for the employee and not the business itself. You should know this before starting a business in the UK.
One of the many questions surrounding this visa is how a foreign company can break into the UK market through this visa. This article will explain properly what this visa is about, who is eligible for this visa, the requirements for the overseas company, and how to apply.
Why the UK Market is Attractive for Overseas Businesses
Most foreign businesses are always on the lookout for countries with mature and stable markets to set up branches or subsidiaries of their business. Over the years, the UK’s business-friendly environment, skilled workforce, robust economy, and thriving market have attracted multiple multinational businesses.
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Another factor most businesses consider is the tax system of the host country. The UK market has a very supportive tax system that offers relief for businesses with profits between certain thresholds and is currently competing with other G20 countries.
The UK government has also streamlined the business registration process, which means that some foreign businesses can now register their business within 24 hours. Furthermore, there are investment zones and freeports provided by the government that could help these businesses.
Aside from a favourable business environment, the UK market boasts of skilled and diverse workforce, which gives these businesses access to various talent. The world-class universities ensure that there are professional and educated workers whom these businesses can hire.
Location-wise, the UK is positioned strategically in a way that gives it easy access to the European and international markets. This means that businesses situated fully or partially in the UK can have access to these markets.
Most importantly, the official language in the UK is English language which means that language barrier will not be a problem. Continuously, with the cultural mix of residents in the UK, the overseas business representative visa holder will always have a familiar society to network with.
The Key Features for Understanding the Overseas Business Representative Visa
In simpler terms, the overseas business representative visa is a specialized visa that allows a company established overseas to be represented within the UK’s news and media sector through one of their employees (mostly senior).
The visa is one of the most preferred visa routes for foreign businesses to enter the UK because of how beneficial it is. As mentioned above, it gives international businesses direct access to the UK market without the need to incorporate.
Senior employees who are granted this visa are allowed to come with their family and can apply for permanent residency after 5 years of holding this visa. The visa holder is also allowed to work overtime for the overseas company’s UK operations without applying for a work permit.
Despite the many enticing benefits of the overseas business representative visa, there are limitations attached to it. Firstly, the overseas company must remain headquartered outside the UK, and its representative cannot engage in any other business or employment while on this visa.
Also, special attention is always paid to seniority and knowledge of the representative. This means that the employee must occupy a senior position in the company and needs to have sufficient knowledge about the company and its operations.
Who is Eligible for the Overseas Business Representative Visa?
This section explains the eligibility criteria for the representative the foreign company wishes to send to the UK.
The age requirement for the overseas business representative visa is 18 years and above.
The individual must be the sole representative of the business.
He/she must be a full-time senior employee of the parent company.
He/she must have major decision-making authority.
Neither the applicant nor their immediate family member should have major ownership in the overseas company or media outlet.
The applicant must have sufficient knowledge of the company operations.
The applicant must speak and write English fluently or have a translator if he/she cannot.
To meet the financial requirement, the applicant must present documents that prove that he/she can fund him/herself and their family (if they are coming with their family).
The applicant’s criminal record and immigration history must be clean.
What are the Requirements for the Overseas Company?
Here, the requirements of the parent company or news outlet will be discussed.
The company’s headquarters must be located and actively operating outside the UK.
Must show proof of genuine intention to establish a branch, representative office, or subsidiary in the UK.
The company must not already have a branch in the UK.
Depending on the size of the company, it should be financially sound and able to support the UK expansion.
Step-by-Step Guide to Apply for the Overseas Business Representative Visa
Expanding a business to the UK is a major move that requires the assistance of professionals, such as immigration lawyers, to assess eligibility, registration, employment process, tax documentation, and other legal procedures.
After that, both the company and its representative have to gather the needed documents such as a passport and travel history, details about the overseas company’s business activities and finances, proof of employment and seniority, business plan for the UK expansion, proof of funds (e.g., bank statements), proof of English language proficiency, etc.
After ensuring that the documents are complete and accurate, they can begin their application online, pay the visa application fee, and schedule a biometric appointment. During the biometric appointment, there might be an interview that the representative should be prepared for.
Then he/she should wait for the visa decision.