Experienced businesspersons wanting to establish a new venture in the UK can apply for Innovator visa.
Mostly, the individual needs to have access to at least a £50,000 investment for their business. With that, they’ll also require an innovative, feasible and sustainable business idea that has an approval from an endorsement body. This visa is effective for three years and can straight up get a direct unlimited permission to stay in the UK when this period ends. Applicants can bring their partner and any children less than eighteen years of age to the UK.
To meet the requirements for an Innovator visa one will have to prove that they:
To get endorsement for a business idea, the endorsement body should be content with the business’ feasibility and sustainability. The incumbent applying for the innovator visa will have to satisfy the endorsement body that most of his time will be dedicated to growing business in the UK.
The Innovator visa application can be filed from both in and out the UK, given that individuals inside do not have, or were not last given, agreement as a Visitor, Short-term Student, Parent of a Child Student, Seasonal Worker, Domestic Worker in a Private Household or outside the Immigration Rules.
One can be a team’s member for a business but in that case, each individual needs an endorsement as well as individual funds of £50,000.
Outside the UK: £1,036
Inside the UK: £1,292
One will have to remain in communication with the endorsement organisation and checking after 6, 12 and 24 months of success of the application.
The endorsement organisation will have to become content with the individual continually working on the approved business and making progress as well. The endorsement may be withdrawn if conditions are not met at later stages.
To meet the requirements for indefinite leave to stay as an Innovator:
You satisfy at least two of the following: