On 29th March 2019, the Innovator visa opened as a replacement for the Tier 1 Entrepreneur visa category. This new category aims to encourage the development of and investments in viable, innovative and scalable businesses in the United Kingdom in order to drive economic growth.
The innovator visa route is aimed at experienced entrepreneurs seeking to set up or run a business in the UK. Under this route, applicants must demonstrate an innovative, viable, scalable business idea supported by an endorsing body.
The initial visa is granted for 3 years and can be extended for another 3 years. Migrants will be eligible for permanent residence, indefinite leave to remain, for 3 years, and citizenship for 6 years after initial entry to the UK. The Innovator visa is a highly sought-after visa route.
Applicants for the Innovator visa must be able to show that their business idea is new, which means they are not permitted to join a business that is already trading. It is also expected by the Endorsing Body that the applicant’s business idea will be original and innovative, not resembling anything else on the market. Furthermore, the business idea must be viable, with genuine growth potential.
You will need £50,000 available to invest in your business, unless you are switching from the Tier 1 Graduate Entrepreneur or Start-up category, or extending your visa as an existing Innovator to pursue the same business venture. You will also need an innovative, viable and scalable business idea which is supported by an approved endorsing body.
As a holder of the Innovator visa, you will be entitled to do the following:
At e-lhr, we have an impressive UK Innovator visa success rate, We also work closely with Endorsing Bodies to ensure the Innovator visa endorsement, and have access to business ideas that are ready for endorsement. For More Information On UK Innovator Visa Contact us.
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