The Home Office has published plans for two new visa routes introduced for skilled business people and those have innovative ideas but may lack experience.
There are now two new routes; the start-up visa route and the innovator visa route – both of which start from 29 March 2019 – the same day initially planned for Brexit to be formalised.
The start-up visa route is intended for those starting a business for the first time in the UK. The start-up visa replaces the existing Tier 1 Graduate Entrepreneur route, however will not just be limited to recent graduates. Additionally, entrepreneurs will have double the amount of time (instead of one year, it will now be two years) to ensure their business is successful.
The innovator visa route is a new path for more experienced business people as opposed to the start-up visa above. The biggest change is only needing £50,000 as opposed to £200,000.