Those who want to start a business in the UK will soon be able to apply for a new “start-up” visa, which replaces a visa route which was exclusively for graduates.
The new route, announced during London Tech Week by Home Secretary Sajid Javid, further supports talented entrepreneurs coming to the UK and makes the visa process faster and smoother for them.
In order to apply, applicants will have to acquire an endorsement from a university or approved business sponsor, including accelerators.
A press release from the Home Office explains: “Entrepreneurs play a key role in creating jobs and driving economic growth in the UK and the changes announced today will ensure the UK remains a world-leading destination for the best global talent.
“The visa route has been designed following advice from the Migration Advisory Committee and feedback from the tech sector and other stakeholders.”
Commenting, Mr Javid says: “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 expanded route will launch in Spring 2019 and further details will be announced in due course.
At Beavis Morgan, we specialise in working with startups and entrepreneurial people across a wide range of sectors, providing guidance and strategic advice to help in formulating plans for your business in order to strengthen its prospects of success, achieve growth and maximise wealth.
We also know first-hand how important the research and development (R&D) tax credit scheme is in encouraging innovation and increased spending on research and development activities by companies operating in the UK. Our specialist R&D team have helped many businesses across a variety of sectors make significant ‘money back for research and development’ claims when some were previously unaware they could, and we are on hand to maximise the value of any potential claim and manage the often-complex process on your behalf.
If you would like to find out more about how we can assist you with your entrepreneurial ideas and your startup business, or to discuss how the various tax incentives could benefit your business, contact Steve Govey or your usual Beavis Morgan Partner .