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UK - Foreign tech entrepreneurs will benefit from the New Startup Visa

UK has decided to launch a new, startup visa in the Spring of the present year, as per the announcement of Home Office. The government intends to make more visas available so that the foreign tech entrepreneurs can set up business establishments in Britain.

Good development

This is a salutary addition because   the present Tier 1 Visa for Entrepreneur is complex for obtaining.  People lack £200,000 for investing in a UK business.  After the new UK Startup, Visa entry to the Kingdom to do business will be easy. Another popular Visa scheme - the Tier 2 Visa category in the UK does not cater to the business owners. Moreover, the employer must have the Tier 2 Visa sponsorship and agree to go through the bureaucratic process to obtain the Tier 2 Sponsor License as well as the Tier 2 Visa. After August 2018 the restricted sponsorship point requirement has crashed to 21 points. Thus many people can enter the UK after getting the Tier 2 Visa.

Consultations

The government obtained the recommendations from the Migration Advisory Committee and also took the tech sector feedback.  It will go ahead with the startup visa to replace the graduate visa scheme. The qualifying norms for this visa require applicants to get the endorsement of any university or also from the approved sponsors in business. The UK intends to attract businesses and wants the migration system to play a major part in it. Moreover, the new visa will exclusively serve foreign nationals who wish to start a business. The startup visa will also ensure that the UK gets the top talent globally. It will also help to cement the place as a promising destination for all categories of entrepreneurs. This announcement follows the governmental efforts to provide more visas to foreign entrepreneurs and innovators.

Other details

In 2018 the government increased the exceptional talent Tier 1 visas to attract overseas talent and gave a boost to erase skill shortages. There are difficulties in obtaining applicants in the fields of science, engineering, technology, medicine, fashion, digital technology, and the arts. Another development is the move of the government to lift the Tier 2 visa cap for nurses/doctors and, freeing up more places to hire skilled technology and IT professionals. There was a great shortage in the NHS for doctors and nurses. This move will also encourage the persons possessing good ideas to arrive in the Kingdom. Amidst the news of refusing 1,000 tech workers, there is a need to pursue economic growth and address the issues associated with it. The Home Office has not specified regarding the numbers in the startup visas. Further details will come up in due course. Please follow us to CareerOverseas newsletters to know latest information and updates about Visa and Immigration. We request you to take our free evaluation to see whether you will be suitable or not and it will give new options available to you.

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