Is the UK Open For Business? Latest Visa and Immigration Changes

If you’re a skilled businessperson with a cutting-edge business idea, now might be a good time to think about immigration to the UK. Emphasizing on talent acquisition, the UK Home Office has introduced two new visas for businesspeople on 7^th March 2019; the Start-up Visa and the Innovator Visa. Under both these categories, only business ideas that are innovative, scalable and viable will be prioritised.

But before you rush off to make your dream of running a business in the UK a reality, make sure you’re aware of the different routes you can take.

What’s the Start-Up Route?

Replacing the Tier 1 Graduate Entrepreneur Visa, the Start-up Visa favours those starting business for the first time in the UK. As a businessperson who isn’t a graduate yet, a Start-up Visa is the best option for you. You can apply for this visa without worrying about the initial funding.

Once approved, you’ll be granted a visa that’s valid for two years. Keep in mind that this category of visa doesn’t lead to a direct settlement. However, if you wish to settle permanently in the UK, you’ll have to switch to the Innovator Visa after two years.

Securing a Start-up Visa isn’t a walk in the park. You need to prove to the endorsing body that you have an innovative, viable and scalable business start-up idea on your hands. Put in the required time and research, to ensure your business proposal doesn’t get rejected.

What’s The Innovator Route?

The Innovator Visa is intended for businesspersons who have years of experience in the business field. This visa has been introduced in the place of the Tier 1 Entrepreneur Visa. If you’re an individual who has considerable business expertise under your belt, opt for this route. Unlike the start-up route, the Innovator Visa requires you to show initial funding of £50,000. So make sure you have the required funds to showcase your business’s financial viability.

If you’ve made up your mind for this applying under this category, draft your business proposal with the utmost care. You’ll need to convince the endorsing body that your business is able to add to the UK economy with its scalability, innovation and viability.

Things to Consider

With Brexit just around the corner, the UK economy will undergo significant changes. From trading to exports and price levels, a massive restructuring is bound to take place. Perhaps, it’s no surprise that the UK Home Office has introduced these two new visa routes to encourage business growth in the country. So while it’s easy to get fooled by the welcoming immigration policies as a business owner, keep these things in mind:

• The UK has become an attractive destination for businesses, but only the most talented businesspeople will be selected.
• While two routes for businesspeople have opened up, stricter measures for determining credibility have been introduced.
• Applications for both the routes will be assessed by the business experts and endorsing bodies to ensure innovation, viability and scalability.

If you need further advice from immigration lawyers in London, Wembley Solicitors has just the team for you! We’re a full-service law firm in the UK, with experience in providing UK immigration law, personal injury claims, commercial lease services, and more to our clients.

Whether you have questions about the Start-up or Innovator Visa, you can reach our immigration solicitors at 020-3417-3700.