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Sponsor Licences: Small vs. Large Companies
If you want to sponsor overseas workers (including those from the EU after 01/01/2021) you will need a sponsor licence. The fees and costs associated vary depending on whether you are a small, large or charitable sponsor. Here we’ll explain how to determine which category you fall into and what difference it makes.
Small Companies and Charitable Sponsors:
Companies fall into this category if they are either registered charities or meet two of the three following requirements:
-They have a turnover of £10.2 million or less
-They have a balance sheet total of no more than £5.1 million
-They have 50 employees or fewer.
Medium or Large Sponsors:
Companies that do not meet the above requirements will be classed as medium or large sponsors (for the purpose of obtaining a sponsor licence there is no distinction between medium and large). The following organisations are automatically classed as a large company regardless of actual size:
-Public Companies
-Insurance Companies
-Banking Companies
-E-Money issuers
What’s The Difference?
There are a few fees which differ depending on the size of your company:
Sponsor Licence Application Fee – This is the fee you will need to pay in order to apply for your initial sponsor licence. It will cost £536 for a small or charitable organisation and £1476 for a large organisation.
In Conclusion
It is important to make sure you have assessed the size of your organisation prior to applying for a sponsor licence and are aware of the costs. For a more comprehensive view of the costs associated with sponsoring overseas workers, please see our blog here.
We are experienced in advising both employers and individuals in relation to the sponsorship process. Should you require any further information about this please get in touch with one of our experts on 01403 801 801 or email us at [email protected]
