Changes to the Immigration Rules have gone live that are set to impact entrepreneurs, investors and start ups.
New year, new immigration rules
The Home Office has kick-started the New Year with a number of changes to the UK immigration rules, which took effect on 10th January.
DavidsonMorris takes a brief look at some of the updates set to impact entrepreneurs and investors:
Expansion of Tier 1 (Exceptional Talent) Route
The existing Tier 1 Exceptional Talent visa has been opened up to architects. Professions already eligible under the route include those in the fields of science, arts, engineering, humanities and digital technology.
Applicants will be required to be endorsed by the Royal Institute of British Architects, in conjunction with the Arts Council England.
Only 2,000 exceptional talent visas are made available each year across all eligible professions. To date, applications have not breached this cap. Whether applications from architects will now take numbers up to the threshold will remain to be seen.
Digital Applications for the Tier 1 (Exceptional Talent) Visa
Digital technology applicants seeking endorsement through the Tech Nation online application form will no longer have to provide printed copies to the Home Office of their supporting evidence.
Tier 1 Entrepreneur Visa to be replaced by new Innovator Visa
The Tier 1 Entrepreneur visa is being replaced by a new Innovator visa. The details of the change are yet to emerge, and the extent to which this is a rebrand or a change in the eligibility requirements.
The visa is to be aimed at experienced business people with a business idea to pursue in the UK. The application and idea will be assessed by a business sponsor in relation to ‘innovation, viability and scalability’.
New Start Up Visa
The new Start-up visa remains on track to go live in the Spring. Aimed at a wider pool of overseas talent wanting to set up new businesses in the UK, the new visa is hoped to increase at the number of experienced business owners coming to the UK who, as prt of their application, will require endorsement by a business or higher education institution sponsor.
Further details are expected.
Reform of Current Tier 1 Investor Visa
The Tier 1 Investor visa route is currently under review, but remains open to new applicants and for extensions.
Changes are expected to be made to the eligibility requirements, such as more stringent evidence in areas such as source of funds. This is likely to take effect in the Spring.
DavidsonMorris is a UK immigration law firm, specialising in working with companies, entrepreneurs, investors and employees on all aspects of UK immigration, including global mobility strategy, HR guidance and training and support with all types of Home Office application. View our latest free immigration webinar training programme for HR and employers.
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