On 9 March 2023, the Home Office announced various changes to the UK immigration routes, including the closure of one route and the opening of another. Some of the key changes include:
The introduction of the Innovator Founder Visa route, which will allow entrepreneurs to start or grow innovative businesses in the UK.
The closure of the Start-up Visa route, which was designed to help entrepreneurs start businesses in the UK.
An increase in the Skilled Worker visa salary rates, which will make it easier for businesses to attract and retain skilled workers from overseas.
The Innovator Founder Visa
The Innovator Founder Visa route will open on 13 April 2023. It is a route to settlement in the UK for entrepreneurs who want to start or grow innovative businesses in the UK.
The Innovator Founder route will replace the current Innovator Visa route. The main difference is that there will be no minimum investment funds requirement. This is to make it more flexible for entrepreneurs with a genuine proposal for an innovative business and sufficient funds to deliver it.
To apply for an Innovator Founder Visa, you will need to be endorsed by an approved body. You will also need to meet the English language and financial requirements.
If you are successful in your application, you will be granted a 3-year visa. After 3 years, you may be able to apply for settlement in the UK.
The Innovator Founder Visa route is a great opportunity for entrepreneurs who want to start or grow innovative businesses in the UK.
The new Innovator Founder route will allow Innovator migrants to take on secondary employment outside of their business, as long as the employment is in a skilled role. This means that Innovator migrants will be able to work in other jobs that require a certain level of education and experience. This change is designed to make it easier for Innovator migrants to support themselves and their families while they are building their businesses.
The closure of the Startup Visa
The Start-up visa route will be closed to new applications from 13 July 2023. If you are currently on a Start-up visa, you will be able to continue your studies or work in the UK until your visa expires. You will not be able to extend your visa or switch to another visa route.
If you are interested in starting a business in the UK, you may be able to apply for an Innovator Founder visa instead. The Innovator Founder visa does not have a minimum investment funds requirement and allows you to work in the UK while you are developing your business. After 3 years, you may be able to apply for settlement in the UK.
The Innovator Founder visa is a new visa route and there are still some details that need
