The Innovator visa launched from 29 March 2019 and replaces the Tier 1 Entrepreneur route.
This route is intended for more experienced businesspeople who are seeking to set up new business in the UK for the first time and are required to have innovative, viable and scalable business idea which is supported by endorsing body. The endorsing body means an organisation which has been approved by the Home Office to endorse applicant’s business ideas. The requirements for the application are as follows:
Applicant must be at least 18 years old;
Meet the English requirement by either passing an English language test approved by the Home Office with at least CEFR level B2 in reading, writing, speaking and listening or having an academic qualification that was taught in English and is recognised by UK NARIC as being equivalent to a UK bachelor’s degree, master’s degree or PhD. The applicant is not required to meet the English requirement if you are a national from English speaking country as listed by the Home Office;
The applicant must be able to prove that they have enough personal savings to support themselves whilst in the UK. The applicant must have at least £945 in their bank account for 90 consecutive days no earlier than 31 days before the date of application;
The applicant is not required to provide evidence of maintenance if the endorsing body confirms in their letter that they have been awarded at least £945 for the maintenance;
The applicant must have at least £50,000 in investment funds if they want to set up a new business. The applicant does not need funds if their business is already established and has been endorsed for an earlier visa.
Successful applicants will be granted 3 year visa with the option to extend for a further 3 years. Applicants may be able to apply for settlement when they have completed 5 years within the UK.
For a free 30 minute consultation with our Immigration Team, get in touch now.
Contact our Immigration Team on: 0151 318 0934