An innovator visa is suitable for people who want to set up and run an innovative business in the UK – it must be something that’s different from anything else on the market.
An innovator visa is valid for 3 years, which can be extended for another 3 years if required.
An innovator visa can lead to settlement in the UK, you can apply for settlement in the UK after living in the UK under an Innovator visa for 3 years.
You can also bring dependents (spouses and children under 18) to the UK. You have to work for your own business, you cannot be employed by another company.
How do I get an innovator visa for the UK?
To get a UK innovator visa, you must \have a business idea that is new or innovative and has the potential to succeed.
You will also need to have at least £50,000 to invest in your business and a clear business plan.
What are the requirements for an Innovator Visa?
must be 18 years old or above
must have at least £50,000 in investment funds
your business or business idea has been endorsed by an approved body, also known as an endorsing body
You must be able to show that your business idea is: new – you cannot join a business that is already trading; innovative – you must have an original business idea that is different from anything else on the market; viable, with potential for growth
need to prove you have enough savings to support yourself in the UK
What is the main difference between a start-up visa and an innovator visa?
There are a few key differences between a UK startup visa and an innovator visa.
Primarily, a startup visa is for individuals who are looking to establish a new business in the UK, whereas an innovator visa is intended for experienced business owners who want to bring their business idea to the UK.
Innovator visa applicants must have at least £50,000 available for investment funds.
The Start-up Visa is valid for 2 years and cannot be extended. It does not lead to settlement in the UK.
The Innovator Visa is valid for 3 years, it can be extended and it leads to settlement in the UK after 3 years.
How much does it cost to apply for an Innovator Visa?
The fees include the Application Fee and Healthcare surcharge fee.
If you’re switching to this visa within the UK, you also need to pay £19.20 to have your biometric information (fingerprints and a photo) taken.
The fees for your dependents are the same.
Application Fee:
Who you’re applying for
Apply (outside the UK)
Extend or switch (in the UK)
Applicant
£1,036
£1,292
Applicant’s partner and children
£1,036 for each person
£1,292 for each person
Healthcare surcharge: £624 per year
Processing time
After submitting your online application, normally you’ll get a decision within 3 weeks if you’re outside the UK, and 8 weeks if you’re inside the UK.
How can we help
At World Wide Work Permit, we have a dedicated team to assist you with your sponsorship applications and visa applications. We also offer professional immigration advice regulated by the Office of the Immigration Services Commissioner (OISC).
We can help you:
Dedicated support from an immigration advisor
Accurately identify the type of visa application
Documentation support and necessary amendments
Completing visa application form(s)
Review your application bundle ready for submission to the Home Office
Submit your visa application to the Home Office
Act as your agent for all correspondence with the Home Office, up to and including receipt of the decision on your visa application
Provide professional advice throughout the process of preparing your visa application, by letter, email, telephone or in person as required
Provide professional advice for the next steps once you have received a decision on your visa application
Home Office fees forecast
Endorsement for an Innovator visa
You must have your business idea supported by a UK-endorsing body that has evaluated it for creativity, feasibility, and scalability.
Your endorsement letter should be sent out no later than three months before your Innovator visa application is due.
Any business activities in the UK listed in your application must be something you truly want to do and are capable of doing.
An approved endorsing body must be satisfied that your business plan satisfies all of the following requirements in order for it to be endorsed:
Innovation: You have a real, unique company idea that addresses new or existing market demands and/or gives you a competitive edge.
Viability: Has the potential for growth
Scalability: Your business plan has the ability to create jobs and expand into new areas across the country.
The endorsing body will also want to know that you’ll be spending most of your working time in the UK on your new company projects.
If you have any questions relating to Innovator Visa, please contact us at: info@wwwp.guru
