UK Innovator Visa
If you are looking to set up or operate a business in the UK you may be able to apply for an Innovator Visa. Your business idea will need to be endorsed by an authorized body, for being innovative, viable and scale-able. You must have £50,000 in funds available to invest if you are starting a new business. If your business is already established and was endorsed for an earlier visa, you will not require these funds.
You don’t need to be the sole founder of the business and may be a member of an entrepreneurial team to apply for the Innovator Visa. If you apply with other members of the team, each member will need £50,000 of Investment funds.
This visa if granted will allow you to stay in the UK for a period of 3 years and is extendable for a further 3 years if you meet the requirements. After 5 years you may be able to apply to Indefinite Leave to Remain and then British Nationality.
To apply for the Innovator Visa you will need to meet certain eligibility requirements such as have your business idea approved, showing evidence of the investment funds etc. Our expert lawyers have detailed knowledge of the Innovator Visa application and can advise you on how to meet the endorsement criteria and the documents that are required to make a successful application. Call us on 0121 285 5121 now or request a call back to speak with one of our expert advisers.
For an Innovator Visa you must meet the following requirements:
- Have had your business or business idea assessed by an approved endorsing body.
- Have received an endorsement letter confirming you meet the endorsement criteria as a ‘new business’ or ‘same business.
- You must have an English language ability at B2 level.
- Have sufficient funds to maintain yourself and any dependents when you arrive in the UK.
- You must prove you have at least £50,000 of funds available to invest in your business, if it is a new business.
There are differences in terms of the criteria that must be met for an endorsement from an approved body and the investment funds that will be needed depending on whether you are applying as a ‘new business’ or ‘same business’.
If you are making an initial application or making an application to extend your stay in the UK and the business is different to the one that was initially approved, you will need to make an application as a ‘new business’.
If you were last granted leave to remain as a Tier 1 Graduate Entrepreneur or in the Start-up category and are making an application to extend your stay in the UK in order to pursue the same business that was previously endorsed, you have an option to make an application either as a ‘new business’ or ‘same business’.
You must obtain an endorsement letter from an approved body confirming they are satisfied that you will spend your entire working time in developing the business in the UK and the business idea meets the following requirements:
You have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage.
You have the necessary skills, knowledge, experience and market awareness to successfully run the business.
There is evidence of structured planning and of potential for job creation and growth into national and international markets.
What can 121 Immigration Lawyers do for you?
Our immigration lawyers can help you with the Innovator Visa application process and ensure you have the all the necessary documentation that is required for a successful application. We can help by:
- Discussing the options that are available to you and ensuring this is the most appropriate application for you.
- Advising you about the requirements and the relevant documents that are required for the application.
- Review your business plan to ensure it meets the criteria needed for letter of endorsement.
- Lease with the approving body until your business idea is approved.
- Reviewing the documents to ensure they are satisfactory for the application.
- Provide a detailed letter of representation, which will outline how you meet the requirements of the Innovator Visa, with reference to the relevant UK Immigration Laws
- Completing and submitting the relevant application form on your behalf.
- Advising you the timescale and liaising with the home office until a decision is made.