At UK Visa Business Plans, we are at the forefront of the latest changes and news to the UK Immigration Rules. As well as preparing the business plan, we can also help you with applying for the Endorsement Letter too as part of our package service.
As an Official Partner for several Tier 1 Visa Endorsement Bodies, we are now able to get pre-approved endorsements within 2-3 working days.
If you are a foreign entrepreneur and seeking to set up your business in the UK, then we can help you fulfil your goals.
Following the recent announcements from the Home Office, they have released the following statement:
"We will build on this offer further by introducing a new Innovator route, for more experienced business people. This will replace the current Tier 1 (entrepreneur) route and have a similar emphasis on endorsement by a business sponsor, who will assess applicants’ business ideas for their innovation, viability and scalability.
These reforms will be introduced in the spring and will ensure the UK remains a world-leading destination for investment and innovation."
Tier 1 (Entrepreneur) is also closing from 29 March 2019. The immigration minister says that the route “has a long tail of low quality projects which contribute little or nothing to the wider UK economy”.
The innovator route will replace the entrepreneur route as follow:
The Innovator category is intended for more experienced business people. As well as an endorsement, applicants will need £50,000 to invest in their business from any legitimate source (reduced from £200,000 for most applicants in the current Tier 1 (Entrepreneur) category).
The funding requirement will be waived for those switching from the Start-up category who have made significant achievements against their business plans. The category may lead to settlement in the UK.
If you are looking at how to get a UK Innovator Visa Endorsement, then you need to look at the three main endorsement criteria:
HOW TO GET A UK INNOVATOR VISA ENDORSEMENT
Innovation: the applicant has a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage.
Viability: The applicant has the necessary skills, knowledge, experience and market awareness to successfully run the business.
Scalability: There is evidence of structured planning and of potential for job creation and growth into national and international markets.
The endorser must also be “reasonably satisfied that the applicant will spend the majority of their working time in the UK on developing business ventures”.
A list of endorsing bodies can be found HERE!
Extension applications for Tier 1 (Entrepreneur) migrants will remain open until 5 April 2023, and settlement applications until 5 April 2025.
For further information on how we can assist you, please e-mail us at firstname.lastname@example.org, or pop us a message using our enquiry box which can be found below.