The UK Home Secretary made the important announcement of launching the fresh start-up visa for individuals who intend to move to the UK and start businesses.
Sajid Javid said that this visa will start the immigration process for a wide pool of professional entrepreneurs, and will make the application process faster.
Requirements of the UK Start-Up Visa
As per the Home Office, applicants for this visa need an endorsement from an approved business sponsor or a university. There is a guess that the list of sponsors having the approval includes accelerators, but no details are published.
Moreover, contrasting to the previous system, applicants need not be university graduates. The government believes that through this measure the UK will be able to draw from a wide pool of potential professionals and entrepreneurs.
A press release of the Home Office says that Entrepreneurs play a major role to create jobs. They are also powerful to have economic growth in the UK. With the present changes the UK would strengthen its position as a world leader in attracting the finest global talent.
Additionally, the government has introduced the visa scheme after taking advice from the Migration Advisory Committee. It is a non-departmental body which gives useful advice to the Home Office.
The start-up visa is a part of the series of visa reforms in the UK. It also follows the example set by the Exceptional Talent route, which attracts those persons who get the endorsement to be the current and emerging leaders in various fields. Prominent among them are Medicine, Science, Engineering, Humanities, Digital Technology, and Arts. After the expansion presently 2,000 visas are available for every year in the Exceptional Talent route.