The UK Innovator Visa was introduced in April 2019, replacing the Tier 1 Entrepreneur Visa. This visa route permits experienced overseas business people to start or take over a business in the UK, providing that the applicant has investment funds of £50,000 and receives approval from an endorsing body. There is also a route to settlement on this visa route, as you are allowed to stay in the UK for 3 years with no limit on the number of times that you can extend the visa, therefore making business people eligible for Indefinite Leave to Remain after a period of 3 years.
What are the requirements for the UK Innovator Visa?
Overseas entrepreneurs who wish to apply for the Innovator Visa in order to start a business in the UK must meet the following requirements:
- Be from outside the European Economic Area (EEA) and Switzerland.
- Be at least 18 years old.
- Have £50,000 in investment funds.
- Have a business idea that meets the requirements mentioned below and has been endorsed by an approved body.
- Meet the financial requirements.
- Meet the English language requirement.
What business proposals are eligible for the UK Innovator Visa?
To qualify for the UK Innovator Visa, applicants must show that their business exhibits the following qualities:
- Innovation. The applicant must show that the business plan is original and uniquely beneficial to market needs.
- Viability. The applicant must prove they have the necessary knowledge and skills to run the business.
- Scalability. The applicant must show a structured plan to grow the business and create jobs.
If your business meets the above requirements, you will need to apply for an endorsement from an approved endorsing body, who will assess your business against this criteria and write a letter of endorsement to the Home Office if your business proposal is approved. Once granted, you must keep in regular communication with the endorsing body, who will monitor the progress of your business plans and confirm that the business is active and trading.
Successful UK Innovator Visa Application
Our team of solicitors and barristers are specialist immigration lawyers who act in your best interest. We offer a client-tailored approach from the outset. From the very first meeting, we will be able to advise you in respect of your prospects of submitting a successful application for an endorsement. We work closely with organisations who can assist with drafting your business plan to ensure that you receive approval. Further, we can assist you with the preparation and submission of a UK Innovator Visa application and are able to advise you in respect of your prospects for success and to ensure that you meet all the requirements of the relevant rules.
Our offices are based in the legal epicentre of London, just across the road from the Royal Courts of Justice in order to ensure we get the best results for our clients. We are minutes away from the Immigration and Asylum Tribunal, the Royal Courts of Justice and other central London courts.
Preparation is the key to successful UK Innovator Visa application. Our UK immigration and visa solicitors are here to guide you through the complex immigration rules and requirements. If you wish to meet one of our lawyers, please call our Immigration Team so we can assess your case and arrange your legal consultation to discuss your UK immigration matter.
Contact our London immigration solicitors on 02071830570 or complete our contact form.