Innovator Visa 

Innovator visa is according to the UK Immigration Rules for ‘more experienced business people 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’.

Introduced in March 2019, the route applies to those foreign nationals who want to organise, plan, and set one business or several businesses in the UK.

Before applying for this visa, you must get your business idea evaluated. If it is approved, you will have a letter of endorsement to prove that the idea is worth investing in.

Requirements:

• Have access to at least £50 000 as investment funds and you should also be able to prove that you have enough funds for your stay in the UK. The business can also be set with a team, and each innovator of the team should have £50 000 to invest.
• Your business idea should be original and not already established in the market.
• You should be able to provide proof of knowledge of English to a minimum Level B2 CEFR unless you are from an English-speaking country as defined in the immigration rules.
• The applicant should meet the maintenance requirement and must have at least 945 GBP for a consecutive period of 90 days unless the endorsing body is certifying the maintenance.

Requirements:

You can apply to extend your Innovator visa or switch to this visa if you are in the UK under a different visa accepted by the Home Office.

Generally, one can switch in the UK if they have valid leave to remain in any of the following categories:

• Start-up
• Tier 1 (Graduate Entrepreneur)
• Tier 1 (Entrepreneur)
• Tier 2 or skilled worker visas
• A visitor who has been undertaking permitted activities as a prospective entrepreneur.

Indefinite Leave to Remain

Innovator visa allows the applicants to apply for Indefinite Leave to Remain after staying 5 continuous years in the UK.