The Innovator visa is for seasoned entrepreneurs who wish to establish an innovative business in the United Kingdom. In most circumstances, you will need at least £50,000 to invest in your business. You must also have an innovative, viable, and scalable business concept that has been approved by an endorsing organisation.

Visas for innovators are valid for three years and can directly lead to indefinite leave to remain in the United Kingdom at the conclusion of this period. Applicants for an innovator visa may bring their spouse and children under the age of 18 to the United Kingdom.

Requirements For An Innovator Visa

To qualify for an Innovator visa, you must convince UK Visas and Immigration of the following:

• You have at least £50,000 to invest in your UK business or have already invested £50,000 (unless switching from Tier 1 Graduate Entrepreneur or Start-up category to pursue the same business venture);
• You are older than 18 years
• You have been endorsed by an authorised UK endorsing body that has evaluated your business idea favourably for innovation, viability, and scalability and is satisfied that you will devote your entire working time in the UK to developing your business venture;
• Your letter of support was issued no more than three months prior to the submission of your Innovator passport application
• You intend to and are capable of engaging in the work or business growth specified in your application in the United Kingdom.
• You have English language proficiency equivalent to at least CEFR Level B2 (IELTS 5.5 in reading, trying to write and listening);
• If you are outside the United Kingdom or have been in the United Kingdom for less than 12 months, you must have at least £1,270 to support yourself, plus £285 for a dependent mate, £315 for a first child and £200 for each extra person.

Depending on the specifics of your situation, the precise requirements you must fulfil may vary. You may wish to seek the counsel of an immigration attorney.

Benefits Of The UK Innovator Visa

• Low amount of investment, namely £50,000
• Spend three years with your family in the United Kingdom
• Visa extensions for two years
• Access British medical and educational benefits
• Simple and rapid processing

Who Is the Innovator Visa Suitable For

The Innovator visa is for experienced entrepreneurs who wish to establish an innovative, viable, and scalable business in the United Kingdom.

Typically, the business does not currently exist. However, if this is the case, the small venture should not yet be fully operational.

Innovators can work independently as sole founders or as members of entrepreneurial teams.

The business concept may pertain to any industry, so long as it is sufficiently innovative, viable and scalable.

If you desire to join an established company, the Federal Skilled visa might be more suitable. If you are a senior associate or specialist worker of an international company seeking to establish a business presence in the United Kingdom, you may wish to consider applying for a UK Expansion Worker visa.

Investment Funds Requirement For An Innovator Visa

Typically, you will need at least £50,000 to invest in your UK business, or you will need to have already invested £50,000 in your UK business. You may use your own funds or those supplied by your endorsing organisation.

The requirement for a “viable” and “scalable” business idea may necessitate that you have more than £50,000 available for investment. Some endorsing organisations require additional funding as a prerequisite for endorsement.

The requirement for investment funds for an Originator visa is waived for candidates switching from the Tier 1 Graduate Industrialist or Start-up categories to pursue the same business venture. Applicants must have demonstrated significant accomplishments relative to their business plan.

Endorsement Criteria For A UK Innovator Visa

In order for your request for proposal to be embraced, a Home Office-approved endorsing body must be satisfied that it needs to meet all of the following requirements:

• You have an authentic, original strategic plan that satisfies existing or new market demands and/or provides a competitive advantage.
• You have the required skills, knowledge, experience, and market awareness to operate the business successfully.
• Scalability: Your business plan demonstrates evidence of structured planning and the ability to create jobs and expand into international and national markets.

The endorsing body must also be convinced that you will devote your whole work life in the United Kingdom to business development.

List Of Approved Innovator Visa Endorsing Bodies

We have released a list of organisations that endorse Innovator visa applications. This list is regularly updated based on the information provided by the Home Office. Our list of endorsing bodies includes the names of all approved to treat Innovator visa endorsing organisms, as well as links to their websites and, if available, information regarding their application and endorsement criteria.

Some endorsing body systems accept open application forms (often with sector and/or geographic restrictions), whereas others only endorse business founders with whom they are already working through their existing programmes.

Switching Into The Innovator Visa Category

It is possible to switch into the Originator visa category from within the UK if you do not have, or were not last granted, approval as a Visitor, Relatively brief Student, Parent of a Kid Student, Seasonal Worker, Domestic Worker in a Private Residence, or are outside the Immigration Rules.

Joining An Existing Business As An Innovator Visa Holder

The Innovator visa is for entrepreneurs who wish to establish a new business in the United Kingdom. Applicants must present a novel business concept.

Typically, the company that forms the foundation of a new marketing plan will not already exist in the United Kingdom. However, where this is the case, the business should not yet be fully operational.

If you wish to join an established business, the Originator visa classification is not a suitable immigration route.

Applying For An Innovator Visa As Part Of A Team

You are not required to be the sole originator of your company, and you may be part of an originator team. However, each candidate must receive a separate endorsement from an authorised endorsing organisation.

Innovator team members who are required to meet the investment requirement for a fresh business endorsement cannot share the same £50,000, but must each have a minimum of £50,000.

Innovator Visa Application Fee

The current Home Application software fee for an Innovator visa is £1,036 for those applying from outside the United Kingdom and £1,292 for those applying from within the United Kingdom to switch into the category.

Innovator Visa Validity Period

The initial validity of your Innovator visa is three years. It is possible to prolong an Innovator visa for three-year increments, subject to re-approval each time. In the category Innovator, there is no highest time limit.

After three years in the Innovator visa category, you will be eligible to apply for extended leave to remain (settlement).

Innovator Visa Conditions Of Stay

As a holder of an Innovator visa, you must adhere to various conditions of stay.

You can develop additional businesses in addition to your primary business concept. However, you will be prohibited from working for any entity other than the company or organization or businesses you have established. Any arrangement that constitutes disguised employment with another contractor would constitute a violation of the terms of your stay.

Innovator Visa Checkpoints

You will be required to contact your endorsing body at 6, 12, and 24 months following the approval of your application.

The endorsing body must be satisfied that you are continued to work on your business venture and that you have demonstrated reasonable progress in relation to your original or new innovative, scalable and financially viable business idea. If this is not the case, your approval may be forced to withdraw and your leave may be shortened.

Indefinite Leave To Remain As An Innovator

To qualify for unbounded leave to stay as an Innovator, you must convince UK Visas & Immigration of the following:

• You have been endorsed by an approved UK endorsing body that is satisfied that you have demonstrated notable achievements decided against the business strategy evaluated in your preceding approval, you are certified with Companies House as a Director or Supporter of your business, your business is active, trading and appears sustainable for at least the next 12 months, you have played a key role in the day-to-day planning and development of the business, and you will sat for the sat.
• You meet at least two of the following conditions:
  • At least £50,000 has been actively invested in the business and spent on advancing the business plan.
  • The company has created approximate of at least five full-time positions with an average annual salary of at least £25,000.
  • The company has created the approximate of at least ten full-time jobs for locals with no minimum wage requirement.
  • Within the past three years, the quantity of clients has at least doubled and is currently greater than the average number of customers for other UK businesses that offer comparable principal products or services.
  • The company has conducted extensive research and development and filed for protection of intellectual property in the United Kingdom;
  • The business generated a minimum of £1 million in annual gross revenue in the most recent full accounting year.
  • The business generated a minimum of £500,000 in annual gross revenue in the last full accounting year, with at least £100,000 from exports.

You have spent not more than 180 days outside the UK in any rolling 12 month period during the 3 years prior to the date of application;

• You have sufficient knowledge of the English language and Life in the UK.

Stages To Obtaining An Innovator Visa

Our Innovator visa application preparation and submission service is divided into 8 discrete stages:

Stage 1 – Complete our Innovator visa enquiry form

Fill out our Innovator Visa Enquiry Form to receive a free preliminary evaluation of your eligibility for an Innovator visa. A lawyer will evaluate your responses. Our goal is to reply within 24 hours.

Stage 2 – Eligibility Assessment

Before contacting a candidate for endorsement, all approved bodies require applicants to verify their eligibility for an Originator visa as an individual. If Stage 1 is successfully completed, we will check that you meet the general eligibility rules of the Immigration Controls for an Innovator visa during an initial consultation meeting.

Stage 3 – Concept Assessment

All endorsing organisms require candidates to demonstrate that their business concept is novel, viable, and scalable. We will have an initial appointment meeting during which we will listen to your idea and provide feedback on whether it is suitable for submission to an endorsing body. This step can be executed simultaneously with Stage 1.

Stage 4 – Introduction to Endorsing Bodies

After completing stages 1 and 2, we will introduce you and your growth strategy to up to three Home Office-approved endorsing organisations. As a reputable introducer, Richmond Chambers can facilitate direct contact with investor panel members and prompt, transparent decision-making.

Stage 5 – Concept and Business Plan Approval

At the initial consultation with the endorsing body, you will present your ideation and business plan. If the endorsing body believes it is appropriate to move forward with the proposal, they will spend some time with you to fully comprehend your model, the cash inflows, and any other provisions they deem essential to ensure that your theory has the best chance of being endorsed.

Stage 6 – Full KYC and Due diligence

The endorsing body will require complete information about you and your funding source. This procedure typically occurs concurrently with Step 4.

Stage 7 – Visa Application

After passing stages 4 and 5 and obtaining a confirmation, we will prepare and submit your Innovator passport application to the Home Office. The Immigration Rules stipulate stringent requirements for the documentation required to support an Innovator passport application. We will ensure that your Originator visa application is presented professionally, is technically accurate and is initially approved.

Stage 8 – Approval & Mentoring

Once the Home Office has approved your Innovator visa application, you will be able to enter the United Kingdom to begin deploying your investment products and working to develop your business concept. We will continue to assist you until you obtain ILR after three years. If desired, we can also offer full wealth, tax management and education consulting services to UK schools and universities through our reputable partners.