Entrepreneur Visa

TWO NEW ROUTES

The Home Office has published plans for two new visa routes introduced for skilled business people and those have innovative ideas but may lack experience.

There are now two new routes; the start-up visa route and the innovator visa route – both of which start from 29 March 2019 – the same day initially planned for Brexit to be formalised.

Start-Up Visa

The start-up visa route is intended for those starting a business for the first time in the UK. The start-up visa replaces the existing Tier 1 Graduate Entrepreneur route, however, will not just be limited to recent graduates. Additionally, entrepreneurs will have double the amount of time (instead of one year, it will now be two years) to ensure their business is successful.

The start-up visa route is intended for those starting a business for the first time in the UK. The start-up visa replaces the Tier 1 Graduate Entrepreneur route, however will not just be limited to recent graduates. Additionally, entrepreneurs will have double the amount of time (instead of one year, it will now be two years) to ensure their business is successful.

It’s imperative to ensure that the business is:

• Innovative
• Viable
• Scalable

Once the business has grown, the proposal is to allow applicants to progress to the innovator route from the initial start-up visa.

As always, it’s imperative that you can prove that you have (via assessment along with evidence):

• Command of the English language
• Funds for maintenance
• Credibility

Prior to this was the tier 1 (graduate entrepreneur) visa, which required graduate applicants to seek endorsement from a Higher Education Institution or the Department for International Trade. As mentioned above, graduates were under pressure to establish their business within one year.

If you think you have a case, call our start-up visa experts on 020 8123 8401 or send us an enquiry.

Innovator Visa

The innovator visa route is a new path for more experienced business people as opposed to the start-up visa above. The biggest change is only needing £50,000 as opposed to £200,000.

The innovator visa route is a new path for more experienced business people as opposed to the start-up visa. The biggest change is only needing £50,000 as opposed to £200,000 needed under the Tier 1 Entrepreneur route.

Should the business succeed, after three years, innovator visa applicants will be able to apply for settlement – however, it is worth noting that applicants will need to re-apply with new endorsement should their business model change.

The government requirements for the innovator visa are for the business to show:

• Innovation
• Viability
• Scalability

Additionally, as the Home Office continues its reforms, applicants will need to prove they have had the £2m investment for 2 years – as opposed to the 90 days previously.

It’s also worth noting that government bond investment will be excluded, so applicants will have to invest in UK businesses.

Previously, the Tier 1 (Entrepreneur) route allowed individuals to establish a business in the UK, providing they met the route requirements; the biggest being having access to at least £200,000, which was to be invested in the UK business.