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Amid FTA Uncertainty between India and the UK, Consider Self-Sponsorship as a Solution for UK ImmigrationMumbai (Maharashtra) November 11: The UK is a preferred international destination for 89% of Indian businesses, according to new research. But while mid-market businesses recognise the opportunities the UK offers, a key barrier to trade and investment is a restrictive immigration and visa regime. Also, the need for detailed business documentation and proof of economic contribution’ is posing a challenge for investors.
With a Free Trade Agreement (FTA) between India and the UK yet to materialise, visa specialists point to the self-sponsorship system as a solution. The scheme was pioneered by British legal firm A Y & J Solicitors and has allowed overseas businesspeople to start ventures in the UK in a wide range of sectors including research, IT, construction, logistics and food production. Self Sponsorship has been growing in popularity since several commonly used business visa routes were cancelled as part of an overhaul of British immigration.
Yash Dubal, director of A Y & J Solicitors, has helped facilitate over 140 Self Sponsorship applications. He says it is the only option available for many smaller investors.
“Many Indian businesses are keen to invest in the UK but there are limited visa options for them, particularly those who are serious about setting up an independent small business in the UK,” he said. “Self Sponsorship is proving to be a lifeline for these people. The system has helped entrepreneurs from all over the world who otherwise would not have been able to bring their skills and investment to the UK. They have established IT businesses, food manufacturing businesses, research and development companies and renewable energy ventures.”
Under the Self-Sponsorship system, overseas entrepreneurs legally establish UK limited companies from abroad and then sponsor themselves for a Skilled Worker visa to work in a role that qualifies under the Skilled Worker route.
According to the Grant Thornton research, almost all (92%) of the Indian businesses surveyed said an FTA with the UK would encourage them to explore opportunities in this market.
Earlier this year Grant Thornton issued its India meets Britain Tracker, developed in collaboration with the Confederation of Indian Industry in the UK. It identified a record 971 Indian-owned companies
