CHANGES TO TIER (1) VISA CATEGORY
The UK government has made changes to Tier (1) visa category, the changes include the following:
The proposed changes have taken effect on March 29, 2019. Applications under the existing Tier 1(Graduate Entrepreneur route has ended on July 5 2019.
THE START UP VISA
THE INNOVATOR VISA
THE INVESTOR VISA
The above proposal do not affect the Tier 1 (Exceptional Talent) category.
The changes should broaden the scope for overseas entrepreneurs to start a business in the United Kingdom with reduced or no prior funding. The changes would also place the role of assessing the viability of any proposed business on new endorsing bodies, rather than Home Office officials. By contrast, the changes require prospective Tier 1 Investors to demonstrate the source of their funds over a much longer period. The changes should also encourage direct investment in the UK companies rather than via government bonds.