UK to start issuing new business visa

The new type of visa is called "Innovator Founder". It will replace the current Innovator visa and Start-up programs, as well as the Entrepreneur visa Tier 1, which was closed in February 2022. Starting April 13, 2023, the UK opens the acceptance of applications for a new visa for entrepreneurs who plan to open a business in the country of Innovator Founder.

To qualify for the Innovator Founder visa, entrepreneurs must:

provide an innovative, viable and scalable business plan;
pass an interview in one of the three Home Offices, which are approved by the UK Home Office;
confirm knowledge of English at a level not lower than B2.

The new visa will be more affordable for applicants: they will not need to invest in a business of £50,000. Entrepreneurs will also be allowed to work for hire outside their project. After 3 years of residence in the country, entrepreneurs will be able to apply for permanent residence in the UK. Check out our guide to buying and renting property in the UK, taxes and conditions for obtaining a mortgage.