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Innovator Visa

Rudraksh immigration UK Innovator Visa

What is Innovator visa for UK?

The Innovator visa is for individuals seeking to set up a business in the United Kingdom based on an innovative, viable, and scalable business idea. Tier 1 (Entrepreneur) visa category closed for new applicants on March 29, 2019 and has been replaced by the Innovator visa and the Start-Up visa.

What can I do in the UK on my Innovator visa?

With an Innovator visa UK, you can
  • Set up business or businesses,
  • Work for your business (such as, being employed as a Director),
  • Bring your dependents,
  • Travel overseas and return to the UK, and
  • Apply for permanent settlement in the UK.

Who can apply for a UK Innovator visa?

Those intending to set up or start a business in the UK can apply for either Innovator visa UK or Start-Up visa for the UK. You can no longer apply for a UK Entrepreneur visa.

How long can I stay in the UK on an innovator visa?

You can stay in the UK for three years if –
  • Coming to the UK on an Innovator visa, or
  • Switching over to this visa category from another visa from within the UK.

What are the UK innovator visa eligibility requirements?

You can only apply for this UK visa route if you have an endorsement from a designated UK endorsing body. An Endorsement Letter will be provided to you if your business is found to be eligible.
As part of the eligibility requirements, you must –
  • Be at least 18 years of age,
  • Have at least GBP 50,000 in investment funds,
  • Meet the English language requirement, and
  • Be able to prove enough personal savings to support yourself when in the UK.

What is the UK Innovator visa processing time?

A decision on your visa application can be expected within three weeks if you are applying for the Innovator visa from outside the UK. Those applying from within the country can expect a decision on their visa within eight weeks.

What is a UK Innovator visa endorsing body?

You must get your business or business idea endorsed before you can apply. A UK Innovator endorsing body can be either a business organization or a higher education provider. An organization in the UK can only offer an innovator visa endorsement if they are on the list of organizations designated by the UK Home Office.
How much investment funds do I need for UK Innovator visa?
Funds of at least GBP 50,000 will be needed to invest in the business.

What documents are required to apply for UK Innovator visa?

An Endorsement Letter will be needed to apply to the UK Innovator visa category.
Generally, the following documents will be needed for application submission –
  • A valid passport (with at least one page remaining),
  • Proof of meeting the English language requirement,
  • Evidence of GBP 50,000 investment funds (if setting up a new business),
  • Bank statements showing a minimum of GBP 1,270 in your bank account for 28 continuous days before applying.
Additional documents might be asked for, based on the individual circumstances of the applicants.

Other Important FAQs

Can I apply for Innovator visa UK?

To be eligible, you must –

  • Want to set up and run an ‘innovative’ business in the UK,
  • Have the support of an endorsing body, and
  • Meet the other eligibility requirements.

What is meant by an innovative business for UK Innovator visa?

To be granted an Innovator visa UK, the business that you intend to set up in the United Kingdom must be something that is entirely different from anything else on the market.

Why do I need an endorsement for UK Innovator visa?

An endorsement doesn’t guarantee a visa. However, an endorsement proves that the applicant and their business have the support of the leading business organizations and higher education providers in the UK.

The endorsement requirement is based on the principle that business organizations and providers are the best-placed to assess and identify innovative business ideas and talent.

Can I include my dependents on my UK Innovator visa application?

Dependent children and dependent spouse/partner of the applicant can be included in the visa application.

Should I be actively involved in the business for Innovator visa UK?

Yes. You will be expected and required to play a key role in the day-to-day management and development of your prospective UK business.

Can I settle in the UK with my Innovator visa?

The Innovator visa for the UK provides a route to settlement. You can apply for indefinite leave to remain (ILR) after living in the UK for three years on a UK Innovator visa.

Can I work for another business on my UK Innovator visa?

No. You can’t work for any other business while in the UK on an Innovator visa.

How much investment funds do I have to show for UK innovator visa?

GBP 50,000 in investment funds will have to be shown.

How much personal funds needed for UK Innovator visa?

You must have at least GBP 1,270 in your bank account for 28 consecutive days before applying, requesting an extension, or switching to Innovator visa from another visa category while in the UK.

How much investment funds if applying as a team for UK Innovator route?

GBP 50,000 each will be required for each Innovator applicant. For example, if three are applying as a team, they must have GBP 150,000 to invest.

Can I extend my UK Innovator visa?

Yes, you might apply for an extension of stay for another three years when your current Innovator visa is about to expire.

How many extensions can I get on my UK Innovator visa?

No limit on the number of times that you can get your UK Innovator visa extended.

What is the healthcare surcharge for UK visas?

Generally, healthcare surcharges will have to be paid when applying for a visa or UK immigration application for more than six months, if applying from outside the UK. No need to pay healthcare surcharge when applying for indefinite leave to remain (ILR) or for a UK visitor visa.

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