Innovator Visa UK
Home / Innovator Visa UK
Services
Innovator Visa
The Innovator visa is for experienced businesspersons seeking to establish a new business in the UK. In most cases you will need to have access to at least £50,000 to invest in your business. You will also need to have an innovative, viable and scalable business idea which has been approved by an endorsing body.
Innovator visas are valid for 3 years and can lead directly to indefinite leave to remain in the UK at the end of this period. Innovator visa applicants can bring their partner and any children under the age of 18 to the UK.
Requirements for an Innovator Visa
The Innovator visa is for experienced businesspersons who are looking to set up a new business in the UK which is innovative, viable and scalable.
Generally, the business will not already exist. However, where it does, the new business should not yet have fully started trading.
Innovators can work on their own as a sole founder, or together as part of an entrepreneurial team.
The business idea may relate to any sector, provided the idea is sufficiently innovative, viable and scalable.
If you wish to join an already trading business then the Skilled work Visa may be more appropriate. If you are a senior manager or specialist employee of an overseas business looking to establish a commercial presence in the UK then you may wish to consider the UK expansion Work Visa.
Investment Funds Requirement for an Innovator Visa
You will usually need to have at least £50,000 available to invest in your UK business or have already invested £50,000 in your UK business. You may rely on money of your own or funding provided by your endorsing body.
The requirement to have a ‘viable’ and ‘scalable’ business idea means that, in practice, you may need to have more than £50,000 available to invest. Some endorsing bodies require an additional level of funding as a condition of endorsement.
The investment funds requirement for an Innovator visa is waived for applicants switching from either the Tier 1 Graduate Entrepreneur or https://immigrationbarrister.co.uk/personal-immigration/business-visas/start-up-visa/ start up category to pursue the same business venture. Applicants will need to have demonstrated significant achievements judged against their business plan.
Endorsement Criteria for a UK Innovator Visa
In order for your business proposal to be endorsed, a Home Office approved endorsing body will need to be satisfied that your business idea meets all of the following criteria:
- Innovation: You have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage;
- Viability: You have the necessary skills, knowledge, experience and market awareness to successfully run the business;
- Scalability: Your business plan shows evidence of structured planning and potential for job creation and growth into national and international markets.
The endorsing body will also need to be satisfied that you will spend your entire working time in the UK on developing business ventures.
List of Approved Innovator Visa Endorsing Bodies
We have published a list of endorsing bodies for Innovator visa applications. This list is based on information provided by the Home Office, which is updated periodically. Our list of endorsing bodies contains the names of all currently approved Innovator visa endorsing bodies, as well as links to their websites and, where available, details of their application process and endorsement criteria.
Some endorsing bodies accept open applications (often with sector and/or geographic limitations), whilst some only issue endorsements to business founders that they are already working with through their existing programmes.
Switching Into the Innovator Visa Category
Applications for Innovator visas can be made from outside the UK, but it is also possible to switch into the Innovator visa category from within the UK provided you do not have, or were not last granted, permission as a Visitor, Short-term Student, Parent of a Child Student, Seasonal Worker, Domestic Worker in a Private Household or outside the Immigration Rules.
Joining an Existing Business as an Innovator Visa Holder
The Innovator visa is for businesspersons seeking to establish a new business in the UK for the first time. Applicants are expected to present a new business idea.
Generally, the business that forms the basis of the new business idea will not already exist in the UK. However, where it does, the business should not yet have fully started trading.
If you are looking to join an existing trading business then the Innovator visa category is not an appropriate immigration route.
Applying for an Innovator Visa as Part of a Team
You do not need to be the sole founder of your business and you may be a member of an innovator team. However, each applicant must receive their own individual endorsement from an approved endorsing body.
Innovator team members that are required to satisfy the investment funds requirement for a new business endorsement also cannot share the same £50,000 but must instead have at least £50,000 investment funds each.
Innovator Visa Application Fee
The current Home Office application fee for an Innovator visa is £1,036 if applying from outside the UK or £1,292 if applying to switch into the category from within the UK.
Innovator Visa Validity Period
Your initial Innovator visa will be valid for 3 years. It is possible to extend an Innovator visa for periods of 3 years at a time, subject to being re-endorsed each time. There is no maximum time limit in the Innovator category.
You will be able to apply for indefinite leave to remain (settlement) as an Innovator after spending 3 years in the Innovator visa category.
Innovator Visa Conditions of Stay
As an Innovator visa holder you will need to abide by various conditions of stay.
You can develop other businesses as well as your main business idea. However, you will not be permitted to take any employment other than working for the business or businesses that you have established. Any arrangement which amounts to disguised employment with another employer would breach the conditions of your stay.
Stages to Obtaining an Innovator Visa
Our Innovator visa application preparation and submission service is divided into 8 discrete stages:
Stage 1 – Complete our Innovator visa enquiry form
To receive a free initial assessment of your suitability for an Innovator visa, complete our form. An expert will review your responses. We aim to respond within 24 hours.
Stage 2 – Eligibility Assessment
All endorsing bodies require that applicants have checked that they are eligible as an individual for an Innovator visa before they are contacted for endorsement. If Stage 1 is completed successfully, we will have an initial consultation meeting where we will check that you are able to satisfy the general eligibility requirements of the Immigration Rules for an Innovator visa.
Stage 3 – Concept Assessment
All endorsing bodies require applicants to demonstrate that they have an innovative, viable and scalable business idea. We will have an initial consultation meeting where we will listen to your concept and advise as to whether it is appropriate to take forward to an endorsing body. This stage can be run concurrently with Stage 1.
Stage 4 – Introduction to Endorsing Bodies
Having successfully completed stages 1 and 2, we will formally introduce you and your business plan to up to 3 Home Office approved endorsing bodies. As a trusted introducer, we can ensure direct contact with investment panel members as well as transparent, timely decision-making.
Stage 5 – Concept and Business Plan Approval
The endorsing body will have an initial consultation where you can pitch your concept and business plan. If the endorsing body feels that it is appropriate to take the proposal forward then they will spend time with you to fully understand your model, the cashflows, and other requirements they deem necessary to make sure your concept has the best prospect of being endorsed.
Stage 6 – Full KYC and Due diligence
The endorsing body will need to know everything about you and the source of your funds. This process will normally run concurrently with Stage 4.
Stage 7 – Visa Application
Having successfully passed stages 4 and 5 and secured an endorsement, we will prepare your Innovator visa application and submit it to the Home Office. The Immigration Rules contain strict requirements in terms of the evidence that must be provided in support of an Innovator visa application. We will ensure that your Innovator visa application is professionally presented, technically correct and approved first time.
Stage 8 – Approval & Mentoring
Once your Innovator visa application has been approved by the Home Office, you will be able to enter the UK to start deploying your investment funds and developing your business concept. We will continue to support you until ILR is achieved after 3 years. Via our trusted partners, we can also provide full wealth, tax management and education consultancy services for UK schools and universities, if these services are desired.
WE CAN ALSO ASSIST WITH
- Application preparation
- Coordinatingng in Endorsement procedure / getting business plan endorsed
- Drafting of business plans
- Applications for extension of stay as a Sole Representative of an Overseas Business
- Intra-company Transfer visa applications
- EU applications
Country
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Ireland
- Italy
- Latvia
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
