Recently, during London Tech week, the Home Secretary, Sajid Javid, announced a new ‘start up’ visa, which will be implemented from Spring 2019. It is currently unknown whether this new scheme will replace any the other of Tier 1 visa routes. The government intends for this new immigration visa to help advance and grow the UK’s tech sector.
The Home Office promises that this new visa will speed up the immigration process for any aspiring entrepreneurs and widen the employment pool, as it is open to any “talented business founders” – not just those who have a higher education qualification, recognised by UK NARIC. Nonetheless, applicants will still require endorsement from a university or approved business sponsor.
While the Home Office was unable to say exactly how many visas will be granted per annum, they did state that this new ‘start up’ visa would widen the pool of eligible applicants “significantly”.
The new initiative comes during a wave of visa reforms suggested by the Migration Advisory Committee, and includes an increase to 2,000 available spaces for those taking the Tier 1 (Exceptional Talent) route. The government states that such changes demonstrate their “commitment to making the UK a dynamic, open, globally-trading nation.”
Mr Javid said that this new visa “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 Home Office have stated that more information will be available “in due course”, surrounding the implementation of the visa, in addition to more in-depth information concerning the application process.
You can also find out more about Forming a UK Company if you're based outside of the UK here.