The UK Innovator Visa is a UK visa category usually for experienced businesspeople to set up an innovative business. The investment requirement is £50,000 (Your funding can come from any source) and you need to be endorsed by an endorsing body. You do not need funds if your business is already established and has been endorsed for an earlier visa.
Endorsing bodies can be found here. We are not an endorsing body here at Permits2Work and we are unable to help you without an endorsing body supporting you before you approach us.
In order to apply for the Innovator visa, you must be able to show that your business idea is a new idea – you cannot join or invest in a business that is already trading and that the business is viable with a potential for growth.
You need to be able to meet the English language requirement, be at least 18years old and from outside the European Economic Area (EEA) and Switzerland.
You must be able to prove that you have enough personal savings to support yourself while you are in the UK. You cannot use money from your investment funds or money earned while working in the UK illegally to support yourself.
The earliest you can apply is 3 months before you travel, you need to have had at least £945 in your bank account for 90 consecutive days before you apply also.
What you can and cannot do
You can:
• Set up a business or several businesses
• Work for your business – this includes being employed as a director, or self-employed as a member of a business partnership
• Bring family members with you the visas are granted leave for 3 years at a time and you can apply to extend your stay for a further 3 years or to apply for settlement within the UK. Each stage will require you to have an endorsing body to support your application processes.
You cannot:
• Do any work outside your business, for example work where you’re employed by another business
• Work as a doctor or dentist in training
• Work as a professional sportsperson, for example a sports coach
• Get any public funds
Do you have a question about the Tier 1 innovator?
Permits2Work are registered with the OISC [Office of the Immigration Services Commissioner] to the highest level, and we are also recognised as an assured sponsor by the Home Office – approved to provide advice and UK immigration services, including audits under the Points Based System. We pride ourselves on helping companies and individuals with the highest standard of service. If you have any questions, please do not hesitate to contact us on enquiries@permits2work.com or call us on 01793 836010.