Last week, Home Secretary Sajid Javid announced plans to introduce a new start up visa for entrepreneurs. The new start up visa will launch in Spring 2019 and is expected to replace the Tier 1 Graduate Entrepreneur scheme. The announcement was made during London Tech Week and the government hopes a simpler visa route will create a favourable environment for entrepreneurs.
To be eligible, applicants will need an endorsement from a university or approved business sponsor, including accelerators. The application process in itself is expected to be “faster and smoother”.
Commenting on the visa route, the Home Secretary 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 start up visa route will be designed to encourage more entrepreneurs from around the world to set up a new business in the UK as the country prepares for Brexit.