The UK Home Office is all set to launch a new Startup Visa for tech entrepreneurs in the spring of 2019. This move is in a bid to make more Visas available to foreign entrepreneurs to set up their businesses in the United Kingdom.
Following feedback from the Tech sector in the UK and suggestions from the Migration Advisory Committee, the UK Govt. is all set to launch the Startup Visa. This Visa would replace the scrapped Graduate Visa scheme, as per The Guardian. Applicants would need to be endorsed by a University or a business sponsor approved by the UK Govt. to claim eligibility for this Visa.
The current Tier 1 Entrepreneur Visa requires candidates to have access to an investment amount of £200,000. This is a difficult proposition for many aspiring entrepreneurs. The new UK Startup Visa would make entry to UK easier for many business aspirants.
Entrepreneurs play a vital role in creating employment and driving economic growth in the UK. The newly announced Startup Visa would ensure that the UK remains one of the leading nations for the best global talent.
Sajid Javid, Home Secretary, said that the UK is proud that it is a leading destination when it comes to tech innovations. The country wants to do much more to attract businesses to the UK and the immigration system of UK could play a key part in it.
This new initiative by the UK Govt. comes on the heels of other recent Visa reforms. Last year, the UK Govt. had increased the CAP limit for the “Exceptional Talent Visa” to 2000 to attract more overseas talent to fulfill UK’s skill shortages.
Y-Axis offers a wide range of Visa and Immigration services as well as products to overseas immigrants including UK Tier 1 Entrepreneur Visa, Business Visa for UK, Study Visa for UK, Visit Visa for UK, and Work Visa for UK.