The immigration advisers of the UK Home Secretary Theresa May have called for overhauling the system of visa for entrepreneurs.
The Committee on Migration Advisory (MAC) on Thursday told that they found considerable evidence of low-quality businesses that is established by the entrants under the UK Tier 1 visa programme.
The committee also told that the experts from the industry shall help in selecting the entrepreneurs that are admitted into the Britain. They also said that the Home Secretary shall consider the specific visa for those who want to set up a startup.
The UK Prime Minister had said that he wants to considerably decrease the number of skilled workers who visit to Britain from non-EU nations, with the levels of net migration is close to an all-time high.
The Tier 2 visas for the skilled workers from non-EU nations are restricted by a yearly limit of 20,700, but the PM, and the Home Secretary said that they want more.
Both have said that they want the Tier 1 visa system for making sure that the investors and the entrepreneurs can set up and fund new businesses.
MAC chairman told earlier month that the Tier 1 path for the investors who bought British assets for 2 million pounds were not fit for the purpose. And at the present he has turned the fire on entry path for the entrepreneurs.
The path is open to the citizens from the non-EU Economic area who could prove that they have around 2,00,000 pounds for investing in the UK business, even though this could be less to 50,000 pounds under different circumstances.
Since the year 2008, around 13,746 people had been issued the Tier 1 Entrepreneur or the Tier 1 Graduate Entrepreneur visas but according to the report from MAC, only 1580 active firms has been set up by those granted visas.
The MAC finds that the path for the graduate entrepreneurs, those who just came out of the university and who wish to set up the business would work very well for them.
According to the spokesman of the Home Office, they had taken steps for clamping down the abuse in the Tier 1 paths but they had also noted that the report showed that there is a need for much more to do. As they would carefully consider MAC’s recommendations and would also give full response in the particular time.