Monthly Archives: December 2019

Innovator Visa: Your 30 Second Guide!!

Innovator Visa

In early 2019, the UK government announced the end of the Tier 1 Entrepreneur Visa and the Tier 1 Graduate Entrepreneur Visa. These have been replaced by the more flexible and dynamic Innovator Visa and Start-up Visa.

The Innovator Visa is designed for experienced entrepreneurs to come to the UK to set up a new business. As the world’s fifth-largest economy, Britain provides not only access to domestic investors and customers but is ideally placed to provide access to the European Union, a market of 500 million.

At UK Migration Lawyers, our team of immigration Solicitors can provide commercially astute guidance to help you swiftly and successfully gain an Innovator Visa. Furthermore, we will work with you to ensure you are in a position to apply for Indefinite Leave to Remain as soon as possible.

What are the eligibility requirements for getting an Innovator Visa?

Before applying for an Innovator Visa, it is important to understand that eligibility is partially based on an endorsement.

Every application is measured on:

  • Innovation – is the business idea original and is there a business plan available that shows the venture meets an existing market need or is a legitimate competitor in a particular sector?
  • Viability – does the applicant have the required skills, experience, and knowledge of the UK market to make the business a success?
  • Scalability – is there substantial proof that the proposed business can grow and create genuine employment for UK settled workers?

It is imperative to keep the above in mind in order to structure your application to prove you meet the merits.

To be eligible for an Innovator Visa, you need to have:

  • Endorsement within this category by an approved endorsing body.
  • £50,000 of investment funds available.
  • The ability to speak English to a B2 level
  • A thorough business plan
  • At least £945 in your bank account. These funds must be present for a minimum of 90 days before applying.

When applying for an Innovator Visa, you will need to collate a series of documents to send in with the application form. These include:

  • A letter from the endorsing body, stating how your business meets the merits of innovation, viability, and scalability.
  • Bank statements proving you have the required £945 and £50,000 available.
  • Your passport.
  • A business plan.

Please note the above list is not exhaustive. Our team will assist you in applying for endorsement and collating the required documents. We can also assist with putting together a persuasive business plan which shows that you can meet not only realistic sales and financial targets but ongoing immigration criteria. This latter point will be particularly important if your ultimate goal is to apply for UK settlement.

Can I bring my family to the UK with me?

You can bring dependent family members to the UK on an Innovator Visa. Dependent family members are defined as your spouse or partner and any children under 18 years. The visa requirements state that you will need an additional £630 for each dependent in addition to the £945 in maintenance funds. Furthermore, you will need to pay the healthcare surcharge for all of you upfront, so be sure to include this in your budgeting.

Based in Birmingham and London, UK Migration Lawyers is one of Britain’s premier immigration law firms. If you want more information on the UK Innovator Visa, please phone our office on 01217777715.

UK Migration Lawyers is authorised and regulated by the Solicitors Regulation Authority (SRA Number 497640). Accredited immigration Law Solicitors. UK Migration Lawyers Ltd. / All rights reserved. Company Registration No 06702262 / Registered in England and Wales.