Why start a business in the UK
UK Entrepreneurial Advantages
The advantages of economic development are obvious
The UK is the fifth-largest economy in the world, with huge domestic consumption potential and market size. The World Bank ranks the UK first in Europe and sixth in the world.
Europe's largest financial center
A number of key performance indicators show that London is the world's leading financial services center. Several investment consultancies have ranked London as one of the best business cities in Europe.
UK tax rates are lower
Since April 2015, corporate income tax has been reduced to 20%, making the UK one of the lowest tax rates in developed countries. The basic rate of personal income tax in the UK is 20%, with a threshold of £11,000 and a maximum rate of 45%.
Fewer barriers to investment and entrepreneurship
According to OECD statistics, the UK has the fewest barriers to entrepreneurship in the world and ranks second in the world in terms of “product-market regulation” and third in terms of trade and investment facilitation.
World-leading innovation capability
The UK is one of the most active countries in the world for innovative companies, and the quality of its research base is second only to the US.
Stable political environment
According to Transparency International, the UK is one of the most transparent (and least corrupt) countries in the world.
Start-up – Start-up visa
Innovator – Innovator Visa
UK Entrepreneur Visa Type
Suitable for fresh graduates of UK universities. IELTS requires B2 (equivalent to 5.5 points), or an undergraduate degree or above from an English-taught university. There are no specific investment capital requirements for this type of visa. The business plan needs to get the Endorsement certificate (Endorsement) of the guarantee agency (Endorsing Body). The first visa is for 2 years, during which it can be converted to an Innovator visa, and after 3 years, you can apply for permanent residence.
Suitable for applicants who have some business/work experience and plan to start a business in the UK. IELTS requires B2 (equivalent to 5.5 points), and investment of no less than £50,000 in entrepreneurial capital. At the same time, you need to get an Endorsement from the Endorsing Body. The first visa is 3 years, and you can directly transfer to permanent residence (depending on the development status of the company) or renew for 3 years. There is no limit to the number of renewals.
Advantages of returning from overseas to start a business
Overseas project landing policy
High-quality overseas projects can enjoy project financial support, loan discount, direct financing support, and other services when they return to China and land. For example, the Nanjing Municipal Government directly provides project financial support of 5 million to 10 million RMB for high-quality Haichuang projects.
Encouraging Policies for Overseas Entrepreneurial Talents
Founders having high-quality overseas return projects can enjoy free settlement support from 0.5 million to 2 million RMB, free car purchase, rent reduction and other benefits.
The starting point of returning to China for transnational entrepreneurship is higher
Entrepreneurs with overseas entrepreneurial experience generally have an international business vision. Overseas departments of multinational companies are more inclined to hire such talents as executives, and top investment companies also prefer such entrepreneurs.
EGG incubator provides more activity platforms
As a bridge between Chinese and British entrepreneurs, EGG UK provides comprehensive support for returnee entrepreneurs, such as network accumulation, resource contact, project implementation, financing support, and other services.