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New entry for SMEs in the international market thanks to UK Sole Representative VISA
Posted on August 9, 2021
The UK SME sector is booming. At the start of 2020, there were 5.9 million small businesses, up 1.9% from the previous year. They are the lifeblood of the UK economy, accounting for 50 percent of the total income generated by UK businesses and 44 percent of the country’s workforce.
Many of these companies recorded record investments during the pandemic. Those looking to expand in the UK may take into account that investment in UK small businesses amounted to £ 8.8bn last year, a 9% increase. The trend continued in the first three months of 2021, when an additional £ 4.5bn was raised. Tech-driven companies have thrived particularly well. Funds accumulated during the pandemic by investors eager to invest money in new businesses are creating fertile ground for foreign companies looking for opportunities.
The UK Only Representative visa allows a senior executive from a foreign company to come to the UK to establish and operate a UK branch or a wholly owned subsidiary of the parent company. This visa is the ideal vehicle for India-based business owners who wish to enter new markets and take advantage of the favorable climate for SMEs in the UK. It can also open the door to full British citizenship.
There are several eligibility requirements necessary for a successful Single Representative visa application, so we always recommend that companies hire the services of a professional and experienced immigration law specialist, to save time and money. money, as did Kunal Agrawal, director of Lippi Systems Ltd. Lippi Systems Ltd was founded in India in 1993. The company is a professional digital printing and engraving company, and is currently listed on the Bombay Stock Exchange.
Mr. Agrawal said, “The Single Representative Visa has allowed my business to expand into a new market. The result has been an increase in business and having an office in the UK now gives us a strategic foothold that will help us in all of the activities we do in Europe and the US. AY & J Solicitors were invaluable in helping us with the visa and made sure our application had the best chance of success.
In the UK, 122,512 work-related visas were granted in the year ending March 2021, down 37% from the previous year. This drop is the result of the pandemic and travel restrictions and we expect demand to increase significantly throughout 2021 and 2022.