Uk Innovator Visa
The United Kingdom has opened its doors for investors and entrepreneurs to set up businesses and settle in the UK. The UK Innovator Founder Visa category is usually for experienced business people to set up an innovative business. This visa allows you to stay in the UK with your family for up to 5 years and 4 months. You can apply for permanent settlement (Indefinite Leave to Remain) after completing 5 years in the UK.
The UK Innovator Visa is a pathway for experienced entrepreneurs who wish to establish a business in the UK. It replaced the Tier 1 (Entrepreneur) Visa in March 2019 as part of the UK's efforts to attract innovative and ambitious entrepreneurs to contribute to the country's economy.
Benefits of UK Innovator Visa
- No Minimum Investment Requirement – Depends on the business concept
- Live in the UK with your family for 3 years
- Get a Visa extension for 2 years
- Access UK healthcare and education benefits
- Easy and quick processing
- The UK offers a conducive environment for business growth and innovation, with access to a diverse market, skilled workforce, and supportive infrastructure.
- As a visa holder, you and your family members are entitled to access public services such as healthcare and education in the UK.
Application Process:
- Endorsement: Before applying for the visa, you need to secure endorsement from an approved endorsing body. The endorsing body will assess your business idea and your ability to execute it.
- Application Submission: Once endorsed, you can submit your visa application online through the UK government's visa application platform.
- Biometric Appointment:You will need to attend a biometric appointment at a visa application center to provide your fingerprints and a photograph.
- Decision: After submitting your application, you will receive a decision on your visa within a few weeks. If approved, you will receive a visa vignette in your passport, which allows you to enter the UK.
Eligibility Criteria:
- Business Idea:You must have an innovative, viable, and scalable business idea that has been assessed and endorsed by an approved endorsing body. The idea should have the potential for growth and job creation.
- Endorsement:You need endorsement from an approved UK endorsing body. The endorsing bodies assess the innovation, viability, and scalability of your business idea.
- Funding:You must have access to at least £50,000 in investment funds to establish your business in the UK, unless you already hold a Start-up Visa and can switch to an Innovator Visa.
- English Language Proficiency:You need to demonstrate proficiency in the English language by passing an approved English language test or by having an academic qualification taught in English.
- Maintenance Funds: You must demonstrate that you have enough money to support yourself without relying on public funds. The amount varies depending on your circumstances.
How many years is the UK Innovator Visa issue for?
The Innovator Visa is initially issued for a period of 3 years. If you meet the necessary criteria for an extension, you can extend your stay for an additional 2 years. After a total of 5 years stay in the UK, you can apply for the permanent UK residency provided you meet the eligibility conditions.
I have a business partner; can we both apply for the Innovator visa?
Yes, we can combine your applications to create 1 team entrepreneur application. You will need to have £100,000 to invest between you.
How long does it take to get an Innovator visa?
The processing time for a decision is around 3 weeks. However, because you must first have a business plan in place and then get your idea endorsed, the entire preparation process may take longer. The innovator visa is granted for a period of three years and can be renewed for another three years an unlimited number of times.
