The UK Innovator Visa is a visa category for experienced entrepreneurs who wish to establish a new business in the UK. Here’s an overview of the key requirements, the application process, and what you can and cannot do under this visa:
Key Requirements
Business Endorsement: Applicants must have an endorsement letter from a Home Office-approved endorsing body, which certifies that the business idea is innovative, viable, and scalable.
Investment Funds: Applicants need at least £50,000 available to invest in their business. If multiple Innovator applicants are co-directors, each must independently show access to this amount.
Personal Savings: Applicants must demonstrate sufficient personal savings to support themselves during their stay in the UK.
English Language Requirement: Proof of English language proficiency is mandatory.
Age: Applicants must be at least 18 years old.
Entry Clearance Applications
To qualify, applicants must:
Secure an endorsement from an approved endorsing body that remains valid during the application process.
Have the required investment and personal funds.
Fulfill the English language requirement.
Visa Duration and Extensions
Initial Visa: Granted for three years, with the possibility to extend for another three years.
Extension Requirements: Applicants can apply for an extension if they continue to run their UK business with an existing endorsement, maintain the required investment funds, and meet the financial self-sufficiency criteria.
Indefinite Leave to Remain (ILR)
After three or five years, Innovator Visa holders may apply for ILR if their business has achieved significant success. They must also:
Have lived in the UK for three years.
Demonstrate knowledge of English and pass the Life in the UK test.
Show they’ve not been absent from the UK for more than 180 days per year during this period.
What You Can and Cannot Do
Permitted Activities:
Set up and run a business in the UK, either as a director or as a self-employed individual.
Bring family members to the UK as dependents.
Prohibited Activities:
Working outside the endorsed business, including employment with another company.
Working as a doctor, dentist in training, or professional sportsperson.
Accessing public funds.
Additional Information
For individuals interested in pursuing the Innovator Visa, it's important to consult with a reliable immigration advisor or legal expert. This ensures you meet all requirements and receive the necessary endorsements.
Would you like more information on the application process or specific requirements? Please contact us or send an email.
UK Innovator Visa