New start-up visa route announced by the Home Secretary
The Home Office has announced plans for a new UK “start-up” visa, which will be launched in Spring 2019, for entrepreneurs wishing to set up a business in the UK. With this new route, it is aimed to widen the applicant pool of entrepreneurs and make the visa process faster and smoother.
This new start-up visa is being designed to replace the existing route which was exclusively for graduates and to open it up to a wider pool of business founders. In order to apply for this visa, applicants will be required to have an endorsement from a university or approved business sponsor including accelerators but will not be required to possess a degree.
Unlike the Tier 1 Entrepreneur Visa currently in place, the new UK start-up visa route promises to appeal to a larger audience and therefore a wider variety of talent. The Home Secretary, Sajid Javid, said:
“The UK can be proud that we are a leading nation when it comes to tech and innovation, but we want to do more to attract businesses to the UK and our migration system plays a key part in that.
That’s why I am pleased to announce a new visa for people wanting to start a business in the UK. This will help to ensure we continue to attract the best global talent and maintain the UK’s position as a world-leading destination for innovation and entrepreneurs.
This initiative builds on other recent reforms to the visa system – including doubling the number of visas available on the Exceptional Talent route to 2,000 per year – and shows the government’s commitment to making the UK a dynamic, open, globally-trading nation.”
It should be noted that this blog post provides general information regarding the subject matter.
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