UK Business Visa Cost: A Complete Guide for Entrepreneurs and Investors

Expanding a business internationally is an exciting step, and the UK remains one of the world’s top destinations for entrepreneurs, investors, and business professionals. However, before you embark on your journey to London, it is essential to comprehend the cost of a business visa in the UK.

Whether you’re looking to start a business, attend meetings, or invest in the UK economy, there’s a visa category tailored for you. In this guide, I’ll break down the cost of a UK business visa, including application fees, additional charges, and hidden costs you need to consider.

By the end of this article, you’ll have a clear roadmap on budgeting for your UK business visa and how to maximize your chances of approval.

Types of UK Business Visas and Their Costs (Updated with More Details)

Before applying, you need to determine which UK business visa suits your specific needs. The UK offers different business visa options depending on whether you want to attend business meetings, start a company, expand operations, or invest in the UK market. Here’s a detailed breakdown of each visa type, their costs, and key requirements.

#1. Standard Business Visitor Visa

Purpose: Ideal for individuals visiting the UK for short-term business activities such as attending meetings, negotiating contracts, conducting market research, or participating in trade shows.

Duration: Up to 6 months (Multiple entry options available).
Visa Cost:
- £115 (~₦135,000) – 6-month visa
- £400 (~₦470,000) – 2-year multiple entry visa
- £771 (~₦900,000) – 5-year multiple entry visa
- £963 (~₦1.1 million) – 10-year multiple entry visa

📌 Important Notes:

This visa does not allow you to do paid work in the UK.
You must leave the UK after your visa expires unless you apply for an extension.
You cannot switch to another visa category while inside the UK.

#2. UK Innovator Founder Visa

Purpose: Designed for entrepreneurs looking to start and operate an innovative business in the UK. Your business idea must be endorsed by an approved UK endorsing body.

Duration: 3 years (Renewable, with a route to permanent residency).
Visa Cost:
- £1,191 (~₦1.4 million) – If applying from outside the UK
- £1,486 (~₦1.7 million) – If switching from another UK visa
Additional Costs:
- Endorsement Fee: £1,000–£2,000 (~₦1.2M–₦2.4M) (This fee is paid to the endorsing body reviewing your business proposal).
- Healthcare Surcharge: £624/year (~₦735,000) (Paid upfront for the entire visa duration).

📌 Key Requirements:

Your business must be innovative, scalable, and viable.
You do not need an initial investment (unlike the previous Innovator Visa).
You can apply for indefinite leave to remain (ILR) after 3 years.

#3. UK Start-up Visa

Purpose: Designed for early-stage entrepreneurs who want to start a business in the UK without requiring initial investment funds. This visa is ideal for those who need time to grow their business before transitioning to the Innovator Visa.

Duration: 2 years (Cannot be extended, but you can switch to an Innovator Visa).
Visa Cost:
- £378 (~₦445,000) – If applying from outside the UK
- £508 (~₦600,000) – If switching from another UK visa
Additional Costs:
- Healthcare Surcharge: £624/year (~₦735,000)

📌 Important Notes:

No minimum investment is required, but you must prove your business idea is innovative.
You must get an endorsement from an approved body before applying.
After 2 years, you must switch to an Innovator Visa to continue your business.

#4. UK Expansion Worker Visa (Global Business Mobility Visa)

Purpose: For companies planning to expand their operations to the UK and send key employees to oversee the process. This visa is best suited for business executives, senior managers, and specialists.

Additional Costs to Consider for a UK Business Visa

In addition to the visa application fees, here are other costs you must factor in:

Priority Processing Fees – If you need a faster decision, priority processing costs £250–£500 (~₦295,000–₦600,000).
Legal or Immigration Consultant Fees – If you need help preparing documents, costs range between £500–£3,000 (~₦600,000–₦3.5M).
Document Translation Fees – If your documents are not in English, translation costs start from £50 per page (~₦60,000).
Business Setup Costs – Entrepreneurs may need an additional £1,000–£3,000 (~₦1.2M–₦3.5M) for company registration, office space, and legal compliance.

Hidden Costs to Consider When Applying for a UK Business Visa

While the visa application fee is the main cost, additional expenses may arise during the process:

a) Immigration Health Surcharge (IHS)

Required for visas longer than 6 months.
Cost: £624 per year (~₦735,000).
Covers NHS (National Health Service) access during your stay.
Must be paid upfront when submitting your application.

b) Biometric Enrollment Fee

If applying from Nigeria, you must provide fingerprints and a digital photo at a TLS contact centre.
Cost: Usually included, but premium centres charge extra for faster appointments.

c) Legal & Consultancy Fees (Optional)

Some applicants hire immigration lawyers or consultants for assistance.
Cost: £500–£3,000 (~₦600,000–₦3.6 million), depending on the complexity of the case.

d) Document Translation & Notarization

If your business documents (e.g., registration certificates) aren’t in English, they must be translated and notarized.
Cost: ₦5,000–₦15,000 per page.

e) Travel Costs for Visa Appointments

If you don’t live in Lagos or Abuja, you’ll need to travel to a visa application center.
Consider costs for transport, accommodation, and food.

📌 Pro Tip: Budget at least ₦300,000–₦700,000 extra for these hidden costs to avoid financial surprises.

Which UK Business Visa is Right for You?

Visa Type	Best For	Cost (₦)	Renewable?	Path to PR?
Business Visitor Visa	Attending meetings, networking, short-term business trips	₦135,000–₦1.1M	❌ No	❌ No
Innovator Founder Visa	Entrepreneurs with innovative businesses	₦1.4M–₦1.7M	✅ Yes (3 yrs)	✅ Yes (3 yrs)
Start-up Visa	Entrepreneurs launching a business without funds	₦445K–₦600K	❌ No	✅ Must switch to Innovator Visa
Expansion Worker Visa	Companies expanding operations in the UK	₦350K + ₦1.2M/yr	✅ Yes (2 yrs)	❌ No

How to Pay the UK Business Visa Fee

Paying your UK business visa fee is an essential step in the application process. The UK Home Office provides multiple payment options, ensuring that applicants can complete the transaction securely and conveniently.

#1. Online Payment (Most Common Method)

Payments are typically made online via debit or credit cards (Visa, Mastercard, American Express, etc.) when submitting your visa application on the official UK government website.
Ensure that your bank card is enabled for international transactions to avoid payment failures.
Some Nigerian banks may have restrictions on foreign transactions, so check with your bank before attempting payment.

#2. Bank Transfers (Selected Visa Centers Only)

Some UK Visa Application Centers (VACs) allow direct bank transfers for visa payments.
If your VAC supports this option, you will receive bank account details during the application process.
Processing time for bank transfers may take 1–3 business days, so plan accordingly.

#3. Payment at Visa Application Centers

If applying from Nigeria, you will process your application and make payments through TLScontact centers in Lagos or Abuja.

Processing Time for a UK Business Visa

The processing time for a UK business visa depends on the type of visa and whether you opt for standard or expedited processing.

#1. Standard Processing

Timeframe: 3–6 weeks depending on the visa category.
Best for: Applicants who can wait and want to save on additional fees.

#2. Priority Processing (Faster Decision)

Timeframe: 5 working days.
Additional Cost: £500 (~₦600,000).
Best for: Those needing a quicker decision but can wait a few days.

#3. Super Priority Processing (Fastest Option)

Timeframe: 24 hours (next working day).
Additional Cost: £956 (~₦1.1 million).
Best for: Business travelers who need urgent approvals and can afford the extra cost.

📌 Important Notes:

Business visas requiring an endorsement (Innovator Founder & Start-Up Visa) may take longer to process due to additional verification requirements.
Processing times start after your biometrics appointment, not from the date of application submission.
Delays may occur during peak seasons or due to incomplete documentation, so apply well in advance.

How to Choose the Best Processing Option

Processing Type	Timeframe	Extra Cost	Who Should Choose This?
Standard	3–6 weeks	No extra cost	If you have ample time before your travel date
Priority	5 working days	£500 (~₦600,000)	If you need a faster decision but don’t require same-day results
Super Priority	24 hours	£956 (~₦1.1 million)	If you need urgent approval for last-minute business travel

📌 Final Tip: If you urgently need your visa, book priority or super-priority processing to get a quicker decision, but ensure that your documents are 100% accurate to avoid delays. 🚀

How to Increase Your Chances of Approval

Have a Strong Business Plan – If applying for an Innovator Visa or Start-Up Visa, your business idea must be innovative, scalable, and viable.
Show Proof of Funds – Ensure your bank statements meet financial requirements to avoid rejection.
Provide All Documents – Missing or incorrect documents can delay processing.
Use an Immigration Consultant – If unsure, seek professional guidance.

Alternative Business Visas for the UK (Lower Cost or No Investment Required)

If the standard UK business visa is too expensive, you might qualify for these alternatives:

a) Skilled Worker Visa (Employer-Sponsored)

If a UK-based company offers you a job, they can sponsor your visa.
Cost: Starts at £625 (~₦740,000).
No personal investment is required.

b) UK Sole Representative Visa (For Business Expansion)

For senior employees of overseas companies setting up a UK branch.
Cost: £719 (~₦850,000).
Ideal for executives and managers.

c) UK Visitor Visa (Short-Term Business)

If you just need to attend meetings, sign deals, or network, a Standard Business Visitor Visa is a cheaper option.
Cost: Starts at £115 (~₦135,000).

📌 Tip: If you don’t qualify for an investor visa, explore skilled worker or business expansion options.

Common Reasons for UK Business Visa Rejections & How to Avoid Them

The UK refuses thousands of business visa applications yearly due to common mistakes. Here’s how to avoid rejection:

a) Incomplete or Incorrect Documentation

📌 Ensure bank statements, tax records, and business registration are up to date.

📌 Attach a well-structured business plan (if applying for an Innovator Visa).

b) Insufficient Proof of Funds

Solution: Show at least £1,270 (~₦1.5 million) in your bank account for 90+ days before applying.

c) Lack of Genuine Business Intent

📌 Some applicants use business visas to enter the UK for other purposes (e.g., job hunting).

📌 Ensure your application clearly explains why you need to visit the UK for business.

d) Overstaying or Visa Violations in Other Countries

📌 If you overstayed in another country, the UK Home Office may flag your application.

Solution: Be honest about past travel history and provide strong ties to Nigeria (e.g., proof of ongoing business).

Best UK Cities for Business and Networking (Where to Set Up)

If your goal is to start a business in the UK, consider the best locations:

a) London (Financial Hub)

✔ Ideal for finance, technology, and corporate businesses.
✔ Has the highest number of investors and networking opportunities.

b) Manchester (Affordable Business Growth)

✔ Popular for start-ups and small businesses.
✔ Lower cost of living compared to London.

c) Birmingham (Manufacturing & Logistics)

✔ Perfect for import-export businesses, logistics, and factories.
✔ Well-connected transport system to Europe.

d) Edinburgh (Tech & Tourism)

✔ Growing hub for technology businesses and tourism-related industries.
✔ Has lower business taxes compared to London.

📌 Tip: Choose a city that aligns with your business industry to improve your chances of visa approval and success.

Post-Visa Opportunities—What Comes After Your UK Business Visa?

Once you have your business visa, here’s what you can do next:

a) Renewing Your Visa

✔ Most business visas are renewable if you meet the requirements.
✔ Innovator Visa holders must show business growth and financial success to qualify for renewal.

b) Applying for UK Permanent Residency (Indefinite Leave to Remain—ILR)

✔ After 5 years on a valid UK business visa, you can apply for permanent residency.
✔ ILR lets you live, work, and run a business without restrictions.

c) Transitioning to UK Citizenship

✔ After 1 year of ILR, you can apply for British citizenship.
✔ This grants you a UK passport, full work rights, and visa-free travel to 150+ countries.

📌 Final Tip: If your long-term goal is citizenship, start with a business visa and transition to residency over time.

Key Takeaways

The cost of a UK business visa varies depending on the category, ranging from £115 to £1,191 (~₦135,000 to ₦1.4M).
Hidden costs like healthcare surcharges, legal fees, and priority processing can increase total expenses.
Entrepreneurs need an endorsement from a UK body before applying for the Innovator or Start-Up Visa.
Processing time ranges from 3 weeks to 6 months, depending on the visa category.
Proper documentation and financial proof are crucial for visa approval.

Conclusion

Applying for a UK business visa is a significant step toward expanding your business, networking, or investing in the UK economy. While the costs may seem high, the opportunities for growth, financial benefits, and global networking make it a worthy investment.

So, is a UK business visa the right choice for your entrepreneurial journey? Let me know your thoughts in the comments!