FAQs: Can international students and graduates set up a business in the UK?

Non-EEA nationals can set up their own full time business in the UK providing certain criteria are met. You need to provide a detailed business plan. This should include:

• the object of the business;
• evidence that you have at your disposal in the UK at least £200,000 of your own money for investment in the business;
• evidence that you will create at least 2 full time jobs for people already settled in the UK and details of their employment conditions;
• the projected opening balance sheet following the start of the business.

(Note that if you qualify as an INNOVATOR - i.e. setting up a business based on a new concept in science or engineering, then certain criteria may be relaxed).

You also need to show that you can live in the UK without help from public funds. Initially you are granted permission to stay for 12 months. You can then apply for an extension of stay for up to another three years.

You also need to apply for entry clearance before travelling to the United Kingdom as a business person.