The Tier 1 Entrepreneur Visa is the main legal door for entrepreneurs from around the world to start a business to the UK.
It aims to offer a red carpet for global entrepreneurs to build a business and spark innovation and growth in the British economy.
Although the scheme has seen a great take up, the UK home Office has recently started tightening the screws due to alleged abuses. This situation translated into an increase in applicant scrutiny leading to a refusal rate growing up to 50% – (Home Office, Immigration statistics quarterly release 2013).
In addition to a more stringent scrutiny, the Home Office requires from applicant to present a business plan as well as take a genuine entrepreneur test.
But how can an entrepreneur prove that his enterprise is genuine? How is the credibility of a business plan assessed? What are documents should be presented? In other words, what is a successful application according to the Home Office?
These are few of the questions we asked our immigration expert during our last webinar:
Israel launches a startup visa programme to simplify immigration for foreign tech entrepreneurs and investors.
Visas to bring more innovators to Israel
Called ‘Innovation Visas for Foreign Entrepreneurs’, the visa scheme will grant 2 year visas to foreign entrepreneurs, investors and foreign professional who can show that their tech business, startup or company will economically contribute to the prosperity of Israel.
A first batch of close to 50 so-called “innovation visas” will be granted soon. Twelve established companies will be the first beneficiaries of the visas for foreign professionals. Meanwhile, the program expands to allow visa holders the ability to set up new firms later.
However, reading through the details, the manner in which the Israeli government is awarding the visa sounds a little obscure and cumbersome:
“An open call will be put out to Israeli companies to apply to use the visas for its future workers. Then, only 12 companies will be selected both by the Immigration Authority and the Office of the Chief Scientist. At that point, there will then be an open call to American companies who wish to set up shop in Israel to apply for the visas. There is no indication how many visas will be allocated per company.”
After the two years, visa holders will be eligible to apply for an ‘Expert Visa’ in the hope of staying indefinitely. The expert visa will make them eligible for some support grants and programs.
Israel is the 15th country in the world to develop an official startup visa route after Taiwan and France (the French Tech Ticket) announced the launch of their own scheme this summer 2015.
Find here Migreat list of countries with an official startup visa scheme and see how they compare to each other.