Who is Innovator visa for
The innovator visa is for experienced business people seeking to establish an innovative business in the UK. Innovators must have £50,000 in investment funds to invest in their business.
Innovators can form a team with other Innovator applicants but cannot share the same investment funds.
There is a two-stage process for this visa. The first stage of the process involves getting endorsed and the second stage is to apply for a visa.
Requirements of Innovator visa
You must be able to demonstrate that you:
- are at least 18 years old on the date of application,
- genuinely intend to set up business in the UK,
- will be involved in the day-to-day management and development of business,
- have £50,000 available funds to invest in business either your own or from endorsement body, if setting up a new business,
- have been issued a letter of endorsement from a Home Office approved endorsing body within 3 months,
- meet the English language requirement to a level B2 on the Common European Framework of Reference for Languages in all 4 components (reading, writing, speaking and listening)
- Meet the Maintenance requirement – i.e. you have at least £1270 in your bank account for 28 consecutive days before you apply, or if you’ve been in the UK for less than a year and applying to switch to this visa
- Provide a tuberculosis test result if you’re from a country where you have to take the test.
The criterion for endorsement is:
Initial application – you must be setting up a new business in the UK, which is innovative, viable and scalable, with the ultimate aim that the business has the potential to become fully integrated and a contributing part of the UK economy.
Extension application – if relying on same business as pervious endorsement you must have made significant progress in developing your business.
Settlement application – you must have made significant progress in developing your business and have made quantifiable achievements.
How long you can stay
A successful application leads to a grant of 3 years leave. After 3 years, Innovators can apply to extend their stay for a further 3 years or to settle permanently in the UK. You must be endorsed at each stage of the process – initial application, extension and settlement.
Switching to Innovator visa If you are in the UK
You can apply to switch to Innovator visa if you are in the UK unless you are on any of the following routes: Visitor, Short-term student, Parent of a Child Student, Seasonal Worker, Domestic worker in a private household, or Outside the Immigration Rules
Extending Innovator visa
You can apply to extend your visa if
- you’re still running a business in the UK or want to set up a new one,
- you have an endorsement from an authorised body, and
- you meet the eligibility requirements
With a Start-up visa you can bring with you as your dependants:
- yourspouse, civil partner or unmarried partner
- children under 18
- children over 18 may also qualify if they’re currently in the UK as your dependant.
Our fixed fees for individual Innovator visa application range from £3500 to £6000 plus VAT and disbursements. Disbursements include Home Office / Visa fees, Immigration Health Surcharge fees, biometrics enrolment fees, optional premium appointments, translations, courier and postage etc.
Contact Innovator Visa Lawyers London
At Karir, we have wealth of expertise in successfully assisting clients to secure their visa. For expert advice and assistance with Innovator visa application, contact us.
Authorised and Regulated
by the Solicitors Regulation Authority
SRA Number: 627176