The UK has announced to launch two new Tier-1 investor Visa routes which will replace the Entrepreneur Visa. As stated in the announcement, the Home office will be introduced on 29 March 2019, the candidates can still apply for the Entrepreneur visa until the month of April.
The new Tier-1 Innovator and Startup visas will be the pathways for the potential migrants wishing to expand or start a business in the country. The applications will be reviewed on the basis of Innovation, Viability, and Scalability. What does it mean?
The visas will have similar terms as the Entrepreneur visa, focusing on the assessment of the applicant’s business idea, how it will contribute to the economy, and ensure that the UK remains a world-leading destination for investment and innovation.
Even so, the requirements for each of these new visas will be different. Such as the Start-up category is for potential entrepreneurs starting a business in the UK for the first time. On the other hand, the Innovator category is for experienced business people seeking to establish and expand a business in the UK.
How to apply for an Innovator or Startup visa?
– The applicants need to submit a business plan and other supporting documents.
– The application will go for an endorsement by a business sponsor and will be mandatory for all applicants.
– The endorsement from sponsors may come with additional requirements, which are yet to revealed by the government.
The government will soon publish a Statement of Intent setting out the details of how the reformed routes will work and the required criteria. As mentioned previously, the requirements like the necessary fund, PR (Permanent Residency) options, and family visa options.
We are currently waiting for more procedures for these routes and will develop the migration plan according to the candidate’s profile and the suitable visa to migrate as an investor. Call us, if you wish to discover your options to immigrate to the UK. Also, visit this page for more updates!