Innovator Founder Visa

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International entrepreneurs who are interested in investing in a business in the UK can apply for an Innovator Visa. To be eligible, applicants must receive endorsement from an approved endorsing body and have at least £50,000 to invest in their business. Call us on +971 58 843 1245‬ or immediate help & assistance with the Innovator Visa. We’re here to help you in person, via the phone or online.

UK Innovator Visa Application

The UK Innovator Visa was created in April 2019, replacing the Tier 1 Entrepreneur Visa. The Innovator Visa route is designed for experienced businesspeople who seek to start a business in the UK. Applicants need a minimum of £50,000 to invest in the business, and their business proposal must be endorsed by an endorsing body.

The Innovator Visa lasts for three years and can be extended for a further three years. In some cases, Innovator Visa holders will be eligible to apply for Indefinite Leave to Remain status after just three years of lawful residency in the UK.

UK Innovator Visa Eligibility

Anyone who wishes to start a business in the UK under an Innovator Visa will need to meet certain requirements.

To be eligible for the Innovator Visa, you must:

Be from outside the EEA and Switzerland
Be at least 18-years-old
Have at least £50,000 to invest if you want set up a new business
Have a business idea which has been endorsed by an approved body. (The endorsement must not have been withdrawn prior to the Home Office’s consideration of the application)
Meet the English language requirement
Meet certain personal financial requirements

Multiple applicants can apply for endorsement to be co-directors of the same company, but each applicant still needs to be able to demonstrate that they have £50,000 to invest.

What is the Difference Between an Innovator Visa and a Start Up Visa?

The Start Up Visa is another type of visa for entrepreneurs. However, this visa is for less experienced entrepreneurs who are classed as high potential.

What are the Innovator Visa Requirements?

Business Proposal

Your business proposal will need to meet the following requirements:

Start Up Visa	Innovator Visa
Applicants do not need funds to invest in their business	Applicants need at least £50,000 to invest in their business
Must not have previously set up a business in the UK	Eligible if set up business in the UK in the past
Successful applicants can stay in the UK for two years	Successful applicants can stay in the UK for three years
Can bring family members	Can bring family members
Can take on work outside of their business to support themselves	Cannot undertake any work outside of business ventures
Visa cannot be extended	Visa can be extended

Innovation. The applicant must be able to demonstrate that they have a genuine and original business plan which meets a new or existing market need, and will provide benefit to the British economy and workforce. (An applicant cannot join or invest in a business which is already trading)
Viability. The applicant needs to prove they have the necessary skills, knowledge and market awareness to successfully run the business
Scalability. The applicant will need to show that there is potential for job creation and growth

Innovator Visa Endorsing Bodies

One of the key Innovator Visa requirements is to have your business idea approved by an endorsing body. Before you start your Innovator Visa application, you must have an endorsement letter from an approved endorsement body.

Endorsement bodies review the applicant’s business proposal and determine whether it meets the three key business proposal requirements, as mentioned above.

If the endorsement body approves the business proposal, an endorsement letter will be written and sent to the Home Office, with detailed information about the applicant and their business proposal.

Endorsing bodies must be able to demonstrate a proven track record of supporting UK entrepreneurs (unless a new organisation is set up by another body which has its own proven track record).

The endorsing body must explain in the letter whether they are providing the investment funds, or whether the applicant has the investment funds available to them and is ready to invest in the business (or has already done so).

A full list of business endorsing bodies can be found here. For more information on the business proposal endorsement, call us now on +971 58 843 1245‬

Guiding Immigration Journeys with Clarity, Compassion, and Commitment