Yahoo Finance Home Office to launch 'startup visas' for entrepreneurs looking to come to UK
The Home Office has announced new "startup visas" for people who want to found their own business.
The new route will make the visa process faster and smoother for entrepreneurs coming to the UK, the department said.
It will replace a visa route which was exclusively for graduates, potentially opening it up to a wider pool of people.
Startup visas will launch in Spring 2019 and applicants will need to be endorsed by a university or approved business sponsor.
The new visa option has been designed following advice from the Migration Advisory Committee and feedback from the tech sector among others.
The 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."
