UK Innovator Visa Business Immigration for Entrepreneurs
A new business visa category has been created for investors and entrepreneurs to set up their business as well as settle along with their families in the UK. This visa came into the picture in April 2019 and replaced the Tier 1 Entrepreneur Visa.
If innovative new ideas are sprouting in your mind and you want to give them a voice, the UK provides a platform that serves as a breeding ground for investors and entrepreneurs who want to do business in a diverse and economically strong country.
Experienced businesspersons can use this visa to establish or expand their business in the UK. This visa route can lead to Indefinite Leave to Remain (ILR) and eventually British citizenship.
There are two categories under which you can apply — a fresh business or an existing business expansion. In both cases, you must meet the immigration rules and endorsement criteria.
You do not need to be the sole founder of the business. For visa extensions, the business must continue under the same criteria mentioned in the original endorsement letter.
Benefits of UK Innovator Visa
You can live in the UK for a period of 5 years and 4 months with your family
Once you complete this duration, you are permitted permanent settlement (Indefinite Leave to Remain)
Investment requirement as low as £50,000
You can live along with your family members in the UK
You can get a visa extension for a period of 2 years
Access to UK education system and government-funded healthcare
Easy and quick processing compared to other business visas
The visa is innovative, scalable, and viable
UK Innovator Visa Eligibility
Applicant must be from outside the EEA and Switzerland
Minimum age requirement is 18 years
Minimum investment of £50,000 for a new business
Business idea must be endorsed by an approved body
Must demonstrate English language proficiency
Must be able to financially support self and dependents
Source of funds must be clearly stated
No investment required if business is already endorsed under a previous visa
How Long Does it Take to Process an Innovator Visa?
Once you apply online, prove your identity, and submit the required documents, you usually receive a decision within 3 weeks if applying from outside the UK and 8 weeks if applying from within the UK.
What are the Innovator Visa Requirements?
Innovation: Business must be original, genuine and viable
Being Viable: Applicant must possess required skills and experience
Scalability: Business must generate employment and economic growth
For more information about the UK Innovator Visa, write to web@abhinav.com or call us on +91-8595338595. You can also connect via our Live Chat.
FAQs – UK Innovator Visa
What is the UK Innovator Visa?
It is a visa for entrepreneurs to start or expand an innovative business in the UK.
How much investment is needed for a UK Innovator Visa?
The minimum investment required is £50,000 unless exempt under specific conditions.
Can I bring my family on a UK Innovator Visa?
Yes, dependents including spouse and children can accompany the main applicant.
How long does a UK Innovator Visa take to process?
Decisions are usually made within 3 weeks if applying from outside the UK and 8 weeks if applying inside the UK.
