The holders of UK innovation visa can work as sole founders or form an entrepreneurial team. Applicants may also create their joint venture arrangements.
The business idea can be related to any sector as long as it is unique, viable, and competent. You must invest in a new business idea, which means you cannot join or invest in an already established business.
Once your business idea is approved and you get the endorsement, you can start your company, develop your business idea in the UK and reach other markets. You can expand the business within and outside the UK, generate revenue, and provide employment opportunities.
To qualify for the Investor visa UK, you will need to fulfill the following requirements:
The start-up visa is also another type of visa for entrepreneurs. The visa is for the less experienced entrepreneurs, classified as high-potentials.
Start-up visa | Innovator visa |
Applicants do not need funds to invest.
Must not have set up a business previously. Applicants can stay in the UK for two years Can include family members in the application Can take on work outside of their business to support themselves You cannot extend the visa |
Applicants need a minimum of £50,000 to invest in their business.
Must have the experience of running a business. Applicants can stay in the UK for three years Can include family members in the application Cannot undertake any work outside of business ventures You can extend the visa |
Once you’ve applied online, proved your identity, and provided your documents, you’ll usually get a decision on your visa within:
How much you pay for the UK business visa depends on your case and the country where you apply from.
Who you’re applying for | Apply (outside the UK) | Switch (in the UK) |
Yourself | £363 | £493 |
Your partner and children | £363 each person | £493 each person |
You must pay the visa fee for each person that applies with you for the UK innovator visa.