Our Infographic Explained
In 2018, when the British Home Secretary, Sajid Javid made this announcement, it was unclear if this new visa would, in fact, replace the Tier 1 Graduate Entrepreneur Visa. However, it is now evident that the Graduate Entrepreneur visa programme will be closed from 6th July 2019 (people can still apply to this until the 5th July 2019).
How does it work?
The new Tier 1 Start-up Visa category has been described as an expanded version of the Graduate Entrepreneur visa route. The visa will be available to anyone who is going to, for the first time, start a business in the UK. If you are an approved applicant, you will be granted a visa for two years and will be able to switch to the new Tier 1 Innovator Visa which will allow you to continue to work and have your business in the UK.
The Start-up Visa is for new entrepreneurs who are starting a business in the UK for the first time. Those applying will not need to have any funds to invest in their business and must not have previously set up a business in the UK.
The requirements are:
- You must be at least 18 years old.
- Meet the English language requirement.
- Must prove that you have enough personal savings to support yourself while you’re in the UK (£945 in your bank account for 90 consecutive days before you apply).
Those applying who are successful will be granted leave for 2 years and will be permitted to bring can your family members (spouses/partners and children under 18) to the UK.
During this 2 year granted period of leave, those who apply will spend the majority of their time working on their businesses but you will also be allowed to take on other work to support yourself. At the end of 2 years, If you are a Start-up Visa holder, you will be able to switch to the Innovator Visa to extend your stay and develop your business further in the UK.
For more information on how to get started on acquiring a Tier 1 Start-up Visa please contact us. We can help you with all the relevant documentation surrounding this application process and advise you on the best avenues to take with regards to your specific application.
Why choose Gulbenkian Andonian for your UK Visa needs?
Established in 1985, our firm has the reputation of being the best immigration law firm in London and one of the top immigration law firms in the UK. We are very much up to date with all new UK visa categories including the Start-Up and Innovator Visas and will be able to guide you with confidence through your application process.
Click here to learn more about what other areas of immigration we specialise in.