People who want to start a business in the UK will be able to apply for a new “start-up” visa.
The British Home Office said it will make the visa process faster and smoother for entrepreneurs coming to the UK.
Called ‘Start-Up Visas’, the new route will replace the current Tier 1 (Graduate Entrepreneur) visa, which allows non-EU graduates from UK universities with a “genuine and credible business idea” endorsed officially to remain in the country.
Currently, the visa is exclusively for graduates, but the new route will open it to talented business founders. This will include accelerators playing a role in the endorsement of candidates who have credible business ideas, official sources said.
Startup visas will launch in Spring 2019 and applicants will need to be endorsed by a university or approved business sponsor.
London-based immigration lawyer Tarek Chowdhury told Bangla Tribune that the Home Office will publish the details soon.
UK Home Secretary Sajid Javid, said: “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.
"This initiative builds on other recent reforms to the visa system – including doubling the number of visas available on the Exceptional Talent route to 2,000 per year – and shows the Government’s commitment to making the UK a dynamic, open, globally-trading nation."