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.
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:
▶ £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.
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.
With knowledgeable experts and specialist, we have created a niche for ourselves in the immigration industry. We operate under as per the Immigration Act 1999 and help you have a smooth migration process. Call us at: +91-9911659888