TIER 1 VISA

Tier 1 Entrepreneur and Graduate Entrepreneur categories:

From 30 March 2019, those coming to the UK to start a business will need to apply in new Innovator and Start-up categories respectively (Graduate Entrepreneur applications will be accepted till 5 July 2019). They are said to be broader and contributing more to the UK economy.

From the point of view of applicants, they will now have to be endorsed by UK trusted bodies, e.g. government agencies, universities, etc. It means that all business ideas will be evaluated as to how innovative, viable and scalable they are. Moreover, the applicants will need to stay in touch with their endorsing bodies to show the progress of their business.

Besides, an English language requirement has gone up from B1 to B2 level.

Tier 1 Investor category

This route will not be cancelled; it will remain open to affluent foreign individuals who wish to invest at least £2 million in the UK. Key changes include:

Funds must be held in a bank account for 2 years instead of 90 days
Banks will be required to carry out and provide evidence of due diligence checks on investors
No investment in government bonds will be allowed
Tighter rules around the use of intermediary vehicles
Stronger evidence must be provided to show the business is active and trading