Tier 1 (Entrepreneur) visas to be abolished
By Ms. Saida Ahmed and Ms. Bhavini Bhatt of OTS Solicitors
top London immigration solicitors are still considering how the suspension of the Investor Visa will affect investor migrants. The suspension, announced yesterday, surprised many would be investors. Now London immigration solicitors are quickly considering how the abolishment of the Tier 1 (entrepreneur) visa will affect entrepreneur migrants.
How can OTS Solicitors help?
Are you contemplating making an Entrepreneur Visa application or part way through the application process? If so, you may need urgent expert legal advice on your Entrepreneur Visa application or options. Please call us on 0203 959 9123
Deadline for Entrepreneur Visa applications
Caroline Nokes announced the scrapping of the Tier 1 (entrepreneur) visa at the same time as introducing the Innovator visa. For applicants who want to apply for an Entrepreneur Visa they have until spring 2019 to do so.
Anyone contemplating making an Entrepreneur Visa application should take urgent legal advice from the best London immigration solicitors. It is vital that visa applicants get specialist advice as Immigration laws and visa options are changing so quickly. Immigration lawyers have to be on the top of their game. You cannot afford for mistakes to be made on visa applications when the rules are being changed and visa options scrapped or suspended.
Entrepreneur Visa eligibility
- You want to set up business in the UK ;
- You are from outside the EEA;
- You have access to £50,000 of investment funds that are held in a regulated financial institution and are disposable (free to spend on a business in the UK) ;
- Meet the English language requirement;
- You are able to support yourself;
- You are over the age of 16.
Different rules apply if you have £200,000 to invest.
The Immigration rules surrounding Entrepreneur Visas are complex. With the government announcement about the abolishment of Entrepreneur Visas and limited details of the new visa schemes entrepreneurs may not be able to afford to delay their visa application.
In addition, anyone thinking about:
- Extending their current Entrepreneur Visa; or
- Switching from their current visa to an Entrepreneur Visa.
The new visa routes for Entrepreneurs
We do not have detailed information. The Home Office appears to be planning to offer entrepreneurs two new visa routes once the Entrepreneurs visa is abolished. They are:
- A start up visa ;
- An Innovator visa.
This is what the Immigration Minister has said this week about start up visas:
The Government is clear that entrepreneurs play a key role in creating jobs and driving economic growth, which is vital to the prosperity of the UK. In June of this year, we announced a new Start-up visa route. This will build upon the successes of the current Tier 1 (Graduate entrepreneur) route, expanding it to ensure that the UK can benefit from a wider pool of overseas talent looking to establish new businesses in the UK.
The start-up visa was introduced in June 2018. It was said the government intention was to:
- Make the visa application process simpler and quicker; and
- Open up visa applications to non-graduates so there is a wider pool of entrepreneurs able to come to the UK ; and
- Applicants will need to be endorsed by a university or approved business sponsor.
top London immigration solicitors are still waiting for the detailed rules surrounding the proposed start up visas. Some have commented that at a time when Britain is grappling with Brexit now is not the ideal time to leave would be entrepreneur migrants not knowing the details of new visa routes.
We are announcing that 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. We will shortly be publishing a Statement of Intent setting out the details of how the reformed routes will work ...
There are no more details yet. Given the message that Britain is ‘’open for business’ post Brexit the top London immigration solicitors hope that the Statement of Intent will be published quickly. Without the detail behind the new start up and Innovator visas Immigration solicitors are hampered in giving detailed advice on visa options.
How can OTS Solicitors help?
Are you contemplating making an Entrepreneur Visa application or part way through the application process? If so, you may need urgent expert legal advice on your Entrepreneur Visa application or options.
OTS Solicitors are specialists in personal and business immigration. They have substantial expertise in securing visas for entrepreneurs. The legal directory of leading UK lawyers, Legal 500, recognises the expert Immigration advice at OTS Solicitors. The firm is ranked in Legal 500 for business immigration services. In addition, OTS Solicitors have Law Society accredited solicitors status as trusted specialists in Immigration law.
For more information on Entrepreneur Visas and for advice on the implications of the scheme abolishment or any other aspect of personal or business immigration law please call us on 0203 959 9123 to arrange an appointment to speak to one of our experienced London immigration solicitors who will be happy to help.