Innovator Visa

The UK Innovator visa has been developed to attract a broad spectrum of entrepreneurs looking to set up business in Britain. The route however is only open to those who have secured appropriate endorsement from an appointed professional body.

Expert guidance will be critical to ensure you follow the new rules for making a successful application.

With so much at stake, it’s important to ensure the innovator route is the most suitable for your needs, and that each stage of the process is managed effectively to avoid issues, delays or even refusal of your application.

How much will I need to invest to be eligible under the Innovator route?

You will need a minimum of £50,000 to invest in your business. This is significantly lower than the £200,000 minimum requirement under the previous Entrepreneur visa.

What is the Innovator visa application process?

The Innovator visa application process is in two stages.

The first stage requires applicants to secure endorsement from a relevant endorsing body following an assessment of your business idea against certain criteria. You will be expected to present a comprehensive business plan detailing all aspects of your business idea, including projections for growth, profit, cashflow and job creation, to demonstrate the business meets the endorsement criteria.

If you are successful in being endorsed, you can then proceed to apply to the Home Office for the Innovator visa.

What are the innovator visa endorsement criteria?

The endorsement stage will see your business idea assessed against the following general criteria:

Innovation

Your business plan should demonstrate the product, service and/or its promotion is genuinely innovative, inventive and original and that it serves new or existing market needs and/or creates a competitive advantage.
Viability

You will need to show the business is more than an idea and that it can be made a success. This also means evidencing that you have necessary skills, knowledge, experience and market awareness to successfully run the business.
Scalability

A key determinant will be potential contribution to the UK economy in the form of job creation and planning for growth into national and international markets.

What are the innovator visa requirements?

If you secure endorsement, you can proceed to make your application to the Home Office for the innovator visa. This will require you to show you:

Are endorsed by a ‘trusted’ organisation in the UK.
Are in regular contact with the endorsing body, at 6, 12 and 24 month intervals.
Satisfy the English Language Requirement, Level B2.

How long does the Innovator visa last?

Leave under the innovator route will be granted for three years at a time, with no maximum time limit placed on visa holders under this category.

Individuals will however have to reconfirm endorsement should they wish to extend their leave at the three year stage or apply for settlement.

Can I apply to settle under the Innovator route?

It may be possible to apply for settlement after three years of continuous residence in the UK if you meet at least two of the following conditions:

At least £50,000 has been invested and spent in the business
The business has created at least 10 full time jobs for resident workers
The business has created the equivalent of at least 5 full time jobs for resident workers paying at least £25,000
The business has generated gross revenue of at least £1 million
The number of the business’ customers has at least doubled in the 3 years and is higher than the mean number of customers for other UK businesses offering comparable main products or services
The business has engaged in significant research and development activity and has applied for intellectual property protection in the UK
The business is generating at least £500,000 in revenue with at least £100,000 from exporting overseas

Need assistance?

We are on hand to help you through the endorsement and visa application stages, making the process as smooth as possible. J & S Law Firm are experienced UK immigration specialists offering guidance and support to individuals in relation to their UK immigration status and making Home Office applications. We can advise on the eligibility criteria you will need to evidence and the process you will need to follow for your application. With over decades of experience, we always provide rock-solid support to our clients and help them achieve their goal efficiently and smoothly.