The Innovator visa category has replaced Tier 1 Entrepreneur visa category which has been closed.
Applicants will be able to apply for Innovator visa relying on funds for investment of £50,000 instead of £200,000 which was a requirement for Tier 1 Entrepreneur visa category.
The English language proficiency level for Innovator Migrants is set at level B2 instead of level B1 which was the requirement for Tier 1 Entrepreneur visa category.
ILR for all applicants in Innovator visa category will be after 3 years instead of 5 years and those who cannot meet the ILR criteria will be able to seek extension of stay for further 3 years. There is no limit on number of times an applicant can successfully apply for extension of stay under Innovator visa category before applying for Indefinite Leave to Remain (ILR) as an Innovator Migrant.
The innovator visa category is for more experienced businesspeople seeking to establish a business in the UK. Applicants will have an innovative, viable and scalable business idea which is supported by an endorsing body. With some exceptions, applicants will have funding of £50,000 to invest in their business.
The Innovator Migrants will have to provide the letter from the endorsing body at initial application, extension and ILR application stage in order to succeed in their applications.
*If you want to set up a business in the UK, you must have access to £50,000 (reduced from the £200,000 usually needed for a UK Tier 1 Entrepreneur Visa) in investment funds. If you already have a business established in Britain and you have been endorsed for an existing UK visa, no minimum investment funds are required.
The UK Innovator Visa replaces the Tier 1 Entrepreneur Visa category, which closed on 29 March 2019.
UK immigration rules published on 7 March 2019 describe the Innovator Visa as:
“A route for more experienced businesspeople looking to establish a business in the UK. Applicants will have an innovative, viable and scalable business idea which is supported by an endorsing body. With some exceptions, applicants will have funding to invest in their business. This category may lead to settlement in the UK.”
UK immigration rules specify the following requirements to be eligible for the Innovator Visa:
For more information about the requirements you need to meet to apply for an Innovator Visa, contact Worldwideimmigration.co.uk
You can stay for three years if you enter the UK on an Innovator Visa or if you switch to the visa from another valid UK visa.
You can apply to extend your visa for another three years when it is due to expire. There is no limit on the number of times you can extend.
After five years, you could be eligible to apply for indefinite leave to remain (UK settlement).
You can only apply for the Innovator Visa, online**. In addition, you will need to have your fingerprints and a photograph taken at a UK visa application centre in the country from which you are applying. You must do this to get a biometric residence permit, which is needed as part of your Innovator Visa UK application.
**If you live in North Korea, you cannot apply online.
Contact Worldwideimmigration.co.uk for more information on how to apply for the Innovator Visa.
The earliest you can apply for an Innovator Visa is 3 months before you travel. It can take a minimum of three weeks to receive a decision on your visa application.
To support your application, you must provide a business plan and supporting documents for endorsement. A business sponsor from the approved bodies will endorse your business plan and Innovator Visa application.
Those endorsing your Innovator Visa application must be ‘reasonably satisfied that you will spend much of your working time in Britain developing business ventures,’ in accordance with UK immigration rules.
When you apply for an Innovator Visa, you will have to pay a UK Immigration Health Surcharge. You have to pay £400 a year payable in advance for the duration of the UK visa.
Our team of specialists have years of experience in visa services. We work with clients under Section 84 of the 1999 Immigration Act and can submit your UK visa application to the Home Office to be dealt with on the same day.
For more information and advice on UK immigration law and UK visa applications please contact us on 0203 488 2308 or email us at Info@worldwideimmigration.co.uk