UK Innovator Visa
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UK Innovator Visa
The UK Innovator Visa offers an exciting opportunity for experienced entrepreneurs looking to establish or run a business in the UK. It is designed for innovative thinkers with unique business ideas that are new to the UK market. If you’re an entrepreneur interested in relocating to the UK, the Innovator Visa could be the key to unlocking your business potential in one of the world's most dynamic markets.
This guide covers the eligibt6ggfuria, application process, and benefits of the UK Innovator Visa, a great option for experienced businesspeople with innovative ideas.
Eligibility Criteria for UK Innovator Visa
- Innovative Business Idea: Your idea must be new, unique, and not an existing business. It must offer something innovative with clear potential for growth and job creation.
- Endorsement by an Approved Body: You need an endorsement from an approved UK body that confirms your business idea is innovative, viable, and scalable.
- Investment Funds: You must have at least £50,000 in investment funds to start your business. If switching from the Start-up Visa, you may not need additional funding.
- Experience and Expertise: Applicants should demonstrate significant business experience in their field.
- English Language Proficiency: You need to prove English proficiency at a B2 level or higher on the CEFR.
- Maintenance Funds: You must have £1270 in personal savings to support yourself, and more if bringing family members.
- Residency Requirement: You must spend at least 180 days per year in the UK to maintain visa status.
Key Benefits of the UK Innovator Visa
- Permanent Residency: After three years, you can apply for Indefinite Leave to Remain (ILR), which allows you to live and work in the UK permanently.
- Family Involvement: You can bring your spouse and children with you to the UK.
- Business Flexibility: You can work full-time on your business and be involved in multiple ventures if they meet the Innovator Visa criteria.
Application Process for UK Innovator Visa
- Endorsement: Secure an endorsement from an approved body.
- Prepare Documents: Collect evidence of identity, endorsement, investment funds, English proficiency, and personal savings.
- Online Application: Apply online and pay the visa fee.
- Biometric Information: Submit fingerprints and photo.
- Decision: Generally takes 3 weeks for a decision if applying from outside the UK.
Visa Extension and Costs
- Cost: The visa fee is £1036 if applying from outside the UK, and £1292 if applying from within.
- Healthcare Surcharge: Pay £624 per year for the Immigration Health Surcharge.
- Extension: Extend your visa for another three years if you continue to meet the criteria. There’s no limit to how many times it can be extended.
Contact Us for Assistance
If you need help applying for the UK Innovator Visa, our consultancy can guide you through the process—from preparing your business plan to securing your endorsement. Contact us today to start your journey to launching a business in the UK!