The Innovator visa category is for experienced business people who wish to launch a firm in the United Kingdom. Generally, you must have at least £50,000 available to invest in your business (or have already invested in your firm), but certain exceptions exist. Additionally, you must have a novel, viable, and scalable business concept that has been approved and backed by an endorsing organization.
At the end of the three-year period, innovator visas can immediately lead to indefinite leave to remain in the UK. Applicants for an innovator visa may bring their partner and any children under the age of 18 to the United Kingdom.
Who is eligible for the Innovator visa?
The Innovator visa category is intended for experienced businesspeople who wish to establish an inventive, viable, and scalable new firm in the United Kingdom. Applicants must propose a novel business concept. Generally, the business will be new. Where it does, however, the new business should not have begun trading fully.
Applicants may operate independently as a solo founder or collaboratively as a member of an entrepreneurial team. Additionally, joint venture partnerships may be appropriate.
The business idea can be in any industry, as long as it is sufficiently innovative, viable, and scalable. For example, the old Tier 1 Entrepreneur category’s restriction on enterprises primarily involved in property development no longer applies. Applicants may pursue additional ventures in addition to their primary business idea.
If you desire to join an established business, the Skilled Worker visa may be preferable. If you intend to participate in an existing commercial enterprise, you may decide to seek the Tier 1 Investor visa option. If you are a senior employee of an international firm seeking to establish a commercial presence in the United Kingdom, you may wish to consider the Sole Representative of an International Business visa.
Visa requirements for innovators
To qualify for an Innovator visa, you must demonstrate to UK Visas and Immigration that you are at least 18 years old, have at least £50,000 available to invest in your UK business, or have already invested in your UK business (this requirement is waived if you are switching from the Tier 1 Graduate Entrepreneur or Start-up category to pursue the same business venture, or extending as an existing Innovator to pursue the same business venture, and in both cases,
The specific standards that you must meet will differ based on the facts of your case. We urge that you seek competent guidance from an immigration lawyer.
Investment funds are required in order to obtain an Innovator visa.
Generally, you must have at least £50,000 available to invest in your UK firm or have already invested in it. You may use your own funds or those granted by your endorsing body.
Due to the necessity to have a “viable” and “scalable” company plan, you may need to invest more than £50,000 in practice. Certain endorsing organizations request additional funding as a condition of endorsement.
The investment funds criterion for an Innovator visa is removed for applicants switching from the Tier 1 Graduate Entrepreneur or Start-up category to continue the same business initiative, or for existing Innovators extending their stay to pursue the same business venture. In all circumstances, candidates must demonstrate considerable accomplishments when compared to their business strategy.
Criteria for endorsement of a UK Innovator visa
To receive endorsement for your business plan, an approved endorsing organization must determine that your company idea fits all of the following criteria:
- Originality: You have a genuine, one-of-a-kind business concept that addresses new or existing market demands and/or establishes a competitive advantage.
- Viability: You have the necessary skills, expertise, experience, and market knowledge to run a successful business.
- Scalability: Your business plan demonstrates systematic planning, as well as the potential for job creation and expansion into national and global markets.
Additionally, the endorsing body must be convinced that you will devote your entire working time to developing commercial initiatives in the United Kingdom.
If you are reapplying to continue the same business venture as in your initial application, you must demonstrate significant accomplishments in comparison to the business plan evaluated at your earlier endorsement. You must demonstrate that you are registered with Companies House as a director or member of your business, that your business is active, trading, and appears to be sustainable for at least the next 12 months, that you have played a significant role in the day-to-day management and development of the business, and that you intend to spend your entire working time in the UK developing your business ventures.
Fees for innovator visa applications
The current Home Office application fee for an Innovator visa is £1,021 if submitted from outside the UK, and £1,277 if submitted from within the UK.
Validity of the innovator visa
Your first three-year Innovator visa will be valid.
An Innovator visa may be extended for up to three years at a time, subject to re-approval each time. The Innovator category has no time limit.
After three years in the Innovator visa category, you will be eligible to apply for indefinite permission to remain (settlement).
The steps involved in acquiring an Innovator visa
Our service for preparing and submitting Innovator visa applications is comprised of eight distinct stages:
Stage 1: Submit our Innovator visa application form.
Complete our Innovator Visa Enquiry Form to receive a free initial assessment of your eligibility for an Innovator visa. Your responses will be reviewed by a barrister. We make every effort to respond within 24 hours.
Stage 2 – Verification of Eligibility
All endorsing bodies require that candidates verify their individual eligibility for an Innovator visa before being solicited for endorsement. If Stage 1 is successfully completed, we will schedule an initial consultation meeting to determine if you fit the general eligibility conditions set forth in the Immigration Rules for an Innovator visa.
Stage 3 – Evaluation of Concepts
All endorsing authorities ask candidates to demonstrate that their business proposal is original, viable, and scalable. We will conduct an initial consultation during which we will listen to your concept and advise on its suitability for submission to an endorsing organization. This stage is optional and may be conducted concurrently with Stage 1.
Stage 4 – Organizational Endorsement Orientation
After completing stages 1 and 2, we will introduce you and your business proposal informally to up to three Home Office-approved endorsing organizations. Henleaze Law, as a trusted introducer, can provide direct interaction with investment panel members and open, speedy decision-making.
Stage 5: Approval of the Concept and Business Plan
The endorsing organization will conduct a first consultation during which you will have the opportunity to pitch your concept and business strategy. If the endorsing body decides to proceed with the proposal, they will spend time with you to fully understand your model, cash flows, and any other requirements they believe essential to ensure your concept has the best chance of getting approved.
Stage 6-Comprehensive Know Your Customer and Due Diligence
The endorsing body will require detailed information about you and your funding source. Normally, this process will occur concurrently with Stage 4.
Stage 7—Application for a Visa
After completing stages 4 and 5 and obtaining an endorsement, we will draft and submit your Innovator visa application to the Home Office. The Immigration Rules impose stringent standards on the proof required to support an Innovator visa application. We will ensure that your Innovator visa application is presented professionally, technically accurate, and accepted on the first attempt.
Approval & Mentoring Stage 8
After the Home Office approves your Innovator visa application, you will be able to enter the UK and begin deploying your investment cash and developing your business plan.
