innovator
visa uk
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What is Innovator Visa?
The UK innovator visa, like the start-up visa, was created to attract skilled foreign nationals from all over the world to come to the UK and bring with them exciting new company ideas that would propel industries forward with inventive concepts.
To be eligible for an innovator visa, you must show that your firm is viable, scalable, and innovative to the Home Office and an endorsing authority.
Overview
If you meet the following criteria, you may apply for an Innovator Visa:
- If you want to start and manage an innovative business in the UK, it has to be something that stands apart from the competition.
- An endorsement body has endorsed your firm or business idea.
- You meet all of the other requirements
Eligibility Criteria:
You must demonstrate that your business concept is:
- brand new – you cannot join an existing company.
- creative – you must have a unique business concept unlike any other product on the market
- viable, with room for expansion while you are in the United Kingdom
You must also meet the following requirements:
- Must be 18 years old or older
- be able to demonstrate that you have sufficient personal savings to support yourself while you are in the United Kingdom
If You Wish To Start a New Company
- To apply for an investment, you must have at least £50,000 in investment funds.
- If you wish to start a new firm, you can apply for an innovator visa. You’ll have to demonstrate where you acquired your money.
- If one of the following applies, you don’t require any investment funds:
- Your company is already established and has received approval for an extension of earlier visa
- You’ve changed your business and informed the endorsement body
Supporting Yourself
- You must have at least £1,270 in your bank account for a period of 28 days before you:
- If you have been in the UK for less than a year, apply for an Innovator visa
- If you have been in the UK for more than a year, apply to extend your Innovator visa or switch to an Innovator visa
You cannot rely on either of the following to survive:
- Money from your investment accounts
- Money gained while working illegally in the United Kingdom
Time to process
The earliest you may apply is three months before your trip, and you should hear back within three weeks.
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FAQs
The UK Innovator Visa is a type of visa for experienced business people who want to start a new venture. The minimum investment is £50,000, and you must be endorsed by an endorsement body.
You can start a business or numerous firms with an Innovator visa. Working for your company entails being a director or being self-employed as a member of a business partnership. If your partner and children are qualified, you may bring them with you as ‘dependents.’
An Innovator visa can be extended for up to 3 years at a time, but it must be re-endorsed each time. In the Innovator category, there is no time limit. After 3 years in the Innovator visa category, you will be entitled to apply for indefinite leave to remain (settlement).
Your initial Innovator visa will be valid for 3 years.
A list of endorsing bodies for Innovator visa applications has been provided by the Home Office. The names of all currently approved Innovator visa endorsing bodies, as well as links to their websites and, when available, details of their application procedure and endorsement criteria, are included in this list of endorsing bodies. Our team can help you decide which endorsing bodies are best for your application.
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