UK Innovator Visa Specialists – UK visa and Immigration
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.
What is the Innovator Visa?
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.
Who can apply for the Innovator Visa?
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 that 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 (The endorsement must not have been withdrawn prior to the Home Office’s consideration of the application)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 – applicants will need to prove they meet a B2 level of English as set out by the Common European Framework of References for Languages (CEFR). (Citizens of most native English-speaking countries will be exempt from this requirement)
- Meet certain personal financial requirements. As well as the requirements for investment funds, applicants must also have at least £945 in their bank account for 90 consecutive days before they apply for the Innovator Visa.
- 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.
How can we help?
Need help with your Innovator Visa application? Contact our expert business immigration lawyers at Davenport Solicitors here.