On 7th March 2019, the UK Government made a number of changes to the Investment Immigration Rules which are aimed to attract talent as well as blocking potential misuse of the system. There are two new visa routes open to those wanting to set up or invest in the UK.
The Start-up visa route is for those who want to start a business for the first time and the Innovator visa route is for more experienced business people who have funds to invest in a business.
The Home Office will no longer be involved in assessing business ideas, instead this role will be undertaken by business experts and endorsing bodies.
The Home Office has also reformed the Tier 1 Investor route which will protect the UK from illegal funds entering the country and at the same time ensure the visa process is more transparent and honest. Those applying for these visa´s will have to prove they have had the minimum required sum of 2 million pounds sterling in their possession for at least 2 years, rather than the previous 90 days.
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