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UK Innovator Visa

UK Innovator Visa

UK Innovator Visa Key Highlights

  • Innovators visa has replaced Tier 1 Entrepreneur Visa
  • The minimum investment required is £50,000
  • The idea should be original and should have proof of it
  • The business idea needs to be approved by the regulatory body
  • The stay in the UK is permitted for three years
  • Submission of application is online.

On 7th March 2019, a major change was introduced in the immigration system of the United Kingdom with UK Home officials announcing the closure of the Tier 1 entrepreneur stream for migration and replacing it with the UK Innovators Visa.

What is the United Kingdom (UK) Innovator Visa?

This visa is for innovators. Those people who can provide a business idea and help the UK economy positively. With this Innovator Visa , the applicant is allowed to stay in the UK for three years after which the stay can be extended as well. This is different from the start-up visa as the UK innovators Visa is for the experienced businesses in the UK. The applicants will need a minimum investment of £50,000 to be eligible in the category. There are some other eligibility requirements of the stream which are as follows:

The Innovators’ Visa Eligibility requirements

▶ £50,000 investment necessary
▶ The proof of your idea being genuinely innovative and viable
▶ The applicant should not be a national of European Economic Area or Switzerland
▶ No other employment outside the business should be undertaken
▶ Innovators need to be endorsed by an approved body to get the visa
▶ The non-EEA business needs to be supported by a third party in The UK. There are some conditions for these bodies and they are –
▶ The organization should have a history of supporting UK entrepreneurs
▶ Endorsement needs support from the UK or deployed government
▶ The right to access the business venture

After the approval, the candidate can apply three months prior to travel date for the UK innovator.

What are the rights of candidate with the innovator visa?

If you have a liable innovative business plan, then you can avail the benefit of the innovator visa through the following ways –
▶ The candidate can set up their own business in the UK
▶ The candidate can act as a director, partner, or a self-employed member
▶ The candidate is allowed to bring their family members to the UK.

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