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The Innovator visa is an immigration route designed by the UK government to attract top business talent. The Innovator visa is intended for experienced entrepreneurs from outside the United Kingdom who would like to set and run an innovative business in the UK. Similarly to the Start-up Visa, the candidate’s business idea needs to be endorsed by an approved endorsing body before the application can be made. Successful applicants can stay in the United Kingdom for three years; following this, applicants may be eligible to apply to stay in the UK permanently.
All candidates need to have their business idea appraised to a UK endorsing body to confirm that the project is original, innovative, and viable. Further, all candidates must be at least 18 years old, have sufficient English language ability, and be able to prove that they have enough personal savings to support themselves and any family members in the UK.
Candidates applying for the Innovator visa are also required to demonstrate access to funds of at least £50,000. However, candidates will not require any investment funds if their business is already established and had been endorsed for an earlier visa or the nature of the business changed and that has been agreed with the candidate’s endorsing body.
Candidates may apply either inside or outside the United Kingdom. Candidates will need to provide an ‘endorsement letter’ showing that a UK endorsing body has assessed their business idea and found it original, innovative, and viable. Applicants will also need to provide:
A decision can usually be expected within 3 weeks if the applicant is outside the UK and within 8 weeks if the applicant is inside the UK. Priority service may be available.
Fees are £1,021 for the main applicant and £1,021 for each family member if applying from outside the UK; for applications made within the UK, the fees are £1,277 for the main applicant and £1,277 for each family member.
Would you like to learn more about this visa or find out which UK immigration route best suits your needs? Speak to us at +44 (0) 020 808 73583 or fill out our Quick Consultation form.
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