New Visa Policy to Allow Entrepreneurs to Set Up Business in the UK

In order to encourage talent and innovation across the world, the UK will now allow you to apply for a “startup visa”, which is exclusive to entrepreneurs wanting to set up business in the UK.

During London Tech week, Home Secretary Sajid Javid announced that the UK could pride itself on being a leading nation in technology and innovation, but it needed to do more in order to attract business. Our migration system plays a key part in that. “Our migration system plays a key part in that”, he said.

This new visa class will replace the visas that were only for graduates and could make the application process smoother and faster for entrepreneurs wishing to set up in the UK

A Financial Times report said that since November, IT professions outside the UK have been rejected for visas because of the restrictions on the ‘Tier 2’ visas for professionals. The second worst affected was the medical sector where 2,360 applications were rejected in the same period.

“Reforming the UK entrepreneurs’ visa system to make it easier and quicker for those people looking to move here to start a business, create employment and wealth is a very positive step,” said Seamus Nevin, head of policy research for the Institute of Directors.

The new visas will be available from spring next year, and applications are required to have sponsorship from a university or other approved businesses.