Tier 1 Entrepreneur Visa Is Now Closed. However There Is An Alternative!
Brexit may not have happened as scheduled at the end of March but the Tier 1 Entrepreneur Visa scheme was closed as scheduled. This had allowed economic migrants the opportunity of applying for British citizenship if they invested £200k in a UK venture and became involved in running it.
This scheme was immediately superseded by the Innovator Visa which has a lower threshold in terms of minimum cash investment at just £50k but carries significantly more risk for investors since the investment needs to be made in an innovative start up rather than in a mature profitable business as was possible previously.
This was a route (although a bit unwieldy and therefore not hugely popular) for running businesses to get much needed funding. That isn't possible now unfortunately.
UK entrepreneurs looking at investment partnerships from potential economic migrants will need advice on structuring a start up in order to be able to take advantage of the new scheme.
Please let us know at Funding Nav if this is of potential interest as this can be a useful adjunct to a seed raise?