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UK Innovator Visa Complete Guide

What is a UK Innovator Visa?
The UK Innovator visa is a visa program for experienced entrepreneurs who want to start a new firm in the UK. If you are planning to apply for a UK visa through this route, then you will need to demonstrate that you have a business idea that is unique, innovative, and profitable, which can be approved by a Home Office Endorsing Body. The visa scheme was started in April 2019, to replace the Tier 1 entrepreneur visa. You will need to make a minimum investment of 50,000 GBP to invest in the business, and their business proposal must be endorsed by an endorsing body.

What are the Benefits of the UK Innovator Visa?

The Following are the Benefits of Successfully Obtaining the UK Innovator Visa

  • The validity of the UK Innovator Visa is for an initial period of three years
  • You will be able to extend your stay in the United Kingdom for a further period of three years for an unlimited number of times
  • In certain cases, you will be able to apply for Indefinite Leave to Remain after completing three years of stay in the UK on this visa
  • You can set up one or more operational businesses on business visa
  • You will also be able to work for a business, either as a director or as a partner
  • You will be able to get your spouse and children to accompany you as your dependents
  • You will be able to travel to other countries and return to the United Kingdom on this visa

What are the Eligibility Requirements for a UK Innovator Visa?

Following are the Eligibility Requirements for a UK Innovator Visa

  • You should have a feasible plan to set up and run an innovative business in the United Kingdom, which is unique and has never been started before
  • Your idea will need to be endorsed by an approved endorsing body of the home office
  • You should be able to demonstrate that your business is new and is not already in operation, it is innovative, and has a clear potential for growth
  • You should be able to demonstrate that you can read, write, speak and understand English at the time of your application
  • You should be in a position to invest 50,000 GBP in your proposed new business

How to Apply for UK Innovator Visa

The Steps for Application will Depend on the Following Factors

  • Whether you are planning to arrive in the United Kingdom from outside the country
  • Or, you are already in the United Kingdom, and are planning to change your visa type
  • Or, you are already in the United Kingdom on the same visa and are planning to extend your visa

[Read More: Know Complete Process for UK Dependent Visa]

  • You will need to create an online profile to submit your application
  • You should prepare the required documents to get UK visa and to prove your identity. You will need the following documents to apply
    • a.A valid passport or any other government-issued identity document
    • b.Bank Account statements that can demonstrate that you have a minimum of 1,270 GBP of savings for 28 days consecutive preceding the date of application
    • c.Documents that prove that you can meet the requirement of English language ability
    • d.Documents that provide evidence of investment funds for setting up a business
  • Once you have submitted your application you will need to pay the visa fees for each person who is planning to travel to the UK, including the primary applicant and all dependents
    • a.Fees are 1021 GBP if you are applying outside UK and 1277 if you are applying within the UK for an extension
  • Once you have submitted the fees, then you will need to wait for a decision, which will take,
    • a.Three weeks if you are applying from outside the United Kingdom
    • b.Eight weeks if you are applying from inside the United Kingdom

Top FAQs Asked by Dubains who Invest in UK Innovator Visa

No, you can apply for a UK innovator visa with a plan to start, a new business in any industry.

No, there is no limit to the number of times you can apply for an extension. You can apply as long as you meet all the other eligibility criteria.

Yes, You will be able to apply for British citizenship, if you have lived for at least five years in the country and 12 months have passed after you have received indefinite leave to remain.

No, you can apply for an Innovator visa directly, if you have 50,000 GBP to invest.

The endorsing bodies are set up by the Home office to assess the business plans of the applicants and make a decision on approving them.

The correct endorsing body will depend on the nature of your business, the timing of application as well as the location where you intend to establish your business in the United Kingdom.

No, you will not be able to join an existing business and must provide a business plan for a new one to qualify.

Yes, you can apply either individually or as part of a team. However, if you are applying as a team, then you will need to obtain individual endorsement from an endorsing body. Moreover, each person in the team will need to have 50000 GBP individually.

No, you will need to work for the business that you have established and will not be able to work for any other job. If you want more information with regards to this or any other questions, then you can contact our expert UK immigration advisors at Global Tree

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