The idea behind the new visa seems to be to encourage more foreign entrepreneurs to come to the UK and contribute to the British economy, with particular ambitions to accelerate growth in sectors such as tech. Unlike similar visa schemes which have existed previously, such as the Tier 1 Graduate Entrepreneur visa, it is open to non-graduates and there is no minimum capital requirement. However, applicants must have a business idea that has been assessed by a Home Office approved Start-Up Visa endorsing body as being innovative, viable and scalable. More details on these criteria are provided in Part W5. Endorsing Bodies is an umbrella term for organisations and higher-education institutions which have expertise in identifying, investing and developing businesses in their respective sectors. They include incubators, accelerators, business development organisations, universities and government agencies.
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What is the Start-up visa? Applicants will have an innovative, viable and scalable business idea which is supported by an endorsing body. This category offers leave for 2 years and does not lead directly to settlement in the UK, but applicants may progress into the Innovator category. The applicant does not need to be the sole founder of the proposed business and can be part of a team. Applicants granted this visa must intend to spend the majority of their working time in the UK developing their business venture s but will not be restricted from undertaking other work.
Start-up visa business plan examples & costs
Are you applying for an entrepreneur visa in the UK? This Business Plan Sample will help you save the time and the cost. Description This business plan will provide you a good insight on the structure of an entrepreneur Visa Business Plan. One of my clients got Visa through this format, so I therefore thought to share it with the community of users.