The declaration of amendments to GOC law rules was published on March 7, 2019. Accordingly, the biggest change was in Tier 1 entrepreneur and investor visas. Tier 1 (Graduate Entrepreneur) and Tier 1 (entrepreneur) visas will be cancelled on April 5, 2019 and replaced by Start-up and Innovator visas. The basilica features of these new categories are as follows:
The Start – up category is the expanded Tier 1 (Graduate Entrepreneur) category. This category is for people who will establish business for the first time in the United Kingdom. Applicants will not have to be graduates and show initial capital. 2-year visa will be given to the people whose application has been positive. At the end of 2 years, people will need to be able to move into the Innovator category in order to develop their business. The Innovator Visa category will be for more experienced business people. People will need to invest GBP 50,000 from a legitimate source. The capital transfer here will not be the case for people who have already acquired The Innovator visa from the start-up visa. This category will also give people the right to an indefinite session. The approval of the first applications shall be made in accordance with the evaluation made on the basis of creativity, applicability and developability in the ideas of the person’s initiative.
What is an Innovator Visa?
With the Brexit process rapidly approaching an end, the UK has brought the Innovator Visa and Start-up visa types, ending the “Entrepreneur Visa (Tier 1)” i.e. Entrepreneur Visa. The type of visa that people who want to start a business in the UK must apply for will be one of these two new types of visa.
How to apply for Innovator Visa? Which are the required documents
If anyone has 50 thousand pounds in the account, they can apply for the Innovator Visa. It needs to be proven that the level of English is B2. If you are at the Start-up level, you can apply for “start-Up visa “via a path similar to innovator visa. This type of visa does not require capital, but the residence and work permit is limited to 2 years. Then you need to apply again to innovator visa. When you think about these ways, if you have an innovative, sustainable and scalable business idea as your company’s main partner, you have the opportunity to be in the UK on a path leading up to the permanent session. Of course, considering your business in Turkey, there are other options if you need to be here as the main partner. For example, you can assign an official to your company in the UK with the “sole representative2” visa option. Unless this authorized company is the principal partner, it may be someone who may also have a partnership in the company. In this way, your business idea does not have to go through an approval process, and the director you will appoint in the first place is provided with a 3-year residence and work permit. After that, it can be extended for 2 years until permanent residence.
