The idea behind the route was simple. International graduates from UK universities could remain in the UK. They have a single grant of two years of leave. But only if they apply within 12 months of their graduation.
Therefore this is a visa route for non-EEA nationals wishing to set up their first business. Among other requirements the endorsement process remains the corner stone. The list of approved endorsers is being broadened to include business sponsors. As well as universities. Therefore, business viability will be judged by qualified, experienced and more appropriate parties. But the visa remains subject to Home Office strict scrutiny.
The business should be innovative, genuine and contain an original business plan. Applicants should have the appropriate skills, knowledge and experience. Further, there needs to be evidence that the business can grow and create future jobs.
At least £50,000 funds must be available to invest in the new business. No further evidence of funds is required. If the endorsement letter confirms that at least £50,000 funds are available. Or if it has been invested in the applicant’s business.
The Home Office must be satisfied the applicant:
The applicant can switch to this category from Tier 1 (Graduate Entrepreneur), Tier 2 or Tier 4 (General). Also be a visitor undertaking permitted activities as a prospective entrepreneur.
You should have the required English language skills to work in the UK.
You also should have at least £945 to maintain your living standards. This must have been held in the account for a consecutive 90 days
To apply, you must not have spent 180 days or less during any consecutive 12 months. Unless there are compelling and compassionate circumstances.
The Home Office only consider documents received before the date the application.
To qualify as an endorsing body in this category. An organisation must meet the following requirements:
This category offers leave for two years and does not lead directly to settlement in the UK. But applicants may progress into the Innovator category to continue developing their businesses in the UK.
We believe the UK is a more desirable destination for entrepreneurs because of this scheme. Moreover encouraging investment. Cementing the country’s place as a world-leading destination for talented entrepreneurs. It is exactly what the UK needs. Due to this, innovators and entrepreneurs will need expert advice.