No detail has yet been announced in respect of this proposed new visa category, which is due to launch in spring 2019. It seems it will replace the tier 1 entrepreneur graduate route and open this route up to all who can obtain an endorsement from a university or approved business sponsor in respect of their proposed business.
How does the new UK start-up visa work?
I’ve heard many people talking about the new UK start-up visa, which is set to launch next year. I am very interested in this category and would like to use all information available to get prepared. How does this kind of visa work? What could be expected when it is fully launched?
In answer to the question, the details of the new visa scheme have not yet been released, but we do know that it will require applicants to have acquired an endorsement from a university or approved business sponsor, including accelerators. We should have more information on this in the coming months.
New "start-up" visa route should be launched in spring 2019. The details of the scheme are yet to be announced.
It is worth mentioning that there is already a category for start-ups in the U.K., which is the tier 1 entrepreneur route. This route is open to genuine entrepreneurs who are seeking to establish, join or take over a U.K. company and will be investing not less than GBP 200,000 into the company (or have secured funding of not less than GBP 50,000 from a registered venture capital firm in the U.K.). You may have heard that the U.K. government has announced that they plan to launch a new start-up visa route in spring 2019. They have stated that this will streamline the application process for entrepreneurs coming to the U.K. It is important to note that the criteria for the new start-up visa route will include that the applicant has obtained endorsement from a U.K. university or approved business sponsor or accelerator. This is not currently a requirement for the tier 1 entrepreneur route. We do not yet know whether this will replace the existing tier 1 entrepreneur route or sit alongside it. If the former, then there may be a limited window for entrepreneurs without an endorsement to apply under the current rules before they change.