Tier 1 Start Up and Innovator Visas
Would you like to set up a business in the UK? The Tier 1 Start Up and Innovator Visas allow entry to those setting up or taking over and being actively involved in the running of a business in the UK. These visas take the place of the Entrepreneur visa which was abolished on 29 March 2019.
2. have the plan endorsed by trusted organisations in the UK, “such as business accelerators, seed competitions and government agencies, as well as higher education providers”;
3. stay in contact with those endorsing bodies regularly.
The Start Up visa is for first time business people. It does not require a minimum funding sum. The visa will be for 2 years. The visa holder can look to transfer into the Innovator visa.
The Innovator visa is for more experienced business people. It requires a minimum funding of £50,000. The visa is for 3 years.
The Start Up visa does not lead to settlement. The Tier 1 Innovator Visa can lead to settlement in the UK after 3 years. A number of conditions have to be fulfilled. The conditions are tougher than for an ordinary ILR application.
Without doubt, these new visa routes will mean a reduction in the number of this type of visa granted compared to the number granted under the old Tier 1 Entrepreneur route.
Please contact us to speak to our specialist immigration advisors to avoid unnecessary expenses and ensure your Tier 1 Start Up or Innovator Visa has the best chance of success.