The Home Office has announced plans for a new "start-up" visa for entrepreneurs wishing to set up a business in the UK. This new visa route is designed to expand the criteria for the existing graduate entrepreneur visa category to open the route to a wider range of entrepreneurs.
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.
The qualifying criteria for the new visa route has yet to be revealed, but the Home Office has indicated that applicants will require an endorsement from a university or approved business sponsor in order to apply.
This new "start-up" visa will be launched in spring 2019 and the Home Office expects that the route will make visa processing for entrepreneurs faster and smoother.
If you have any queries, please get in touch with your usual Mishcon de Reya contact or a member of the Immigration team.