The new innovator and start-up visas replace the Tier 1 (Entrepreneur) route which is now closed to new applicants, and the Tier 1 (Graduate Entrepreneur) route which will close from 6 July 2020
All applicants for these visas must now have the endorsement of an organisation certifying that their business is innovative, viable and scalable. Start-up applicants do not however need any funding secured — innovator applicants must have £50,000 lined up — and need only be seeking to break into national as opposed to international markets.
You can apply for an Innovator visa if:
• you want to set up or run a business in the UK
• you’re from outside the EU
• you meet the all of the criteria
• your business or business idea has been endorsed by an approved body. ( I will find the appropriate body when you tell me what business you are planning to start.)
• You must have at least £50,000 in investment funds if you want to set up a new business.
You must be able to show that your business idea is:
• a new idea – you cannot join or invest in a business that is already trading
• viable, with potential for growth
How long it takes to get a visa
The earliest you can apply is 3 months before you travel. But due to the corona virus, you will be allowed to apply for this in the UK whilst you are here.
You should get a decision on your visa within 3 weeks when you apply from outside the UK, it may take a little longer in the UK due to the current circumstances.
How long you can stay
You can stay for 3 years if you:
• come to the UK on an Innovator visa
• switch to this visa from another visa
• You may be able to apply for settlement (known as ‘indefinite leave to remain’) once you’ve been in the UK for 3 years or extend as many times as you wish.
What you can and cannot do
• set up a business or several businesses
• work for your business – this includes being employed as a director, or self-employed as a member of a business partnership
• bring family members with you
• do any work outside your business, for example work where you’re employed by another business
• work as a doctor or dentist in training
• work as a professional sportsperson, for example a sports coach
• get public funds
Before you apply you need to have your business or business idea assessed by an approved body.
They will provide you with an endorsement letter if your business is viable.
You must also:
• meet the English language requirement
• be at least 18 years old
• be able to prove that you have enough personal savings to support yourself while you’re in the UK.
If you want to set up a new business
You must have at least £50,000 in investment funds to apply for an Innovator visa if you want to set up a new business.
Your funding can come from any source.
You do not need any investment funds if your business is already established and has been endorsed for an earlier visa.
You need to have had at least £945 in your bank account for 90 consecutive days before you apply.
You cannot use either of the following to support yourself:
• money from your investment funds
• money earned while working in the UK illegally
Why Choose Us?
By choosing Global Law to assist you with your application you will receive one-to-one case management. One of our Consultants will manage your application from start to finish. Our Immigration adviser is an EX-Home Office Immigration Officer who has the very best in knowledge and experience, which will be used on your case.
What to do next?
Please call us on 0207 504 1306 or simply fill in our Free Enquiry No Obligation Form at the top of this page and we will call you back quickly
We will treat your enquiry as important and confidential and we will not pass your personal details to any third parties for marketing purposes. Global Law are authorised and regulated by the OISC.
- The money is completely in their control and disposable in the United Kingdom in a regulated financial institution at the value of £2 million or more.
- They have opened a UK regulated bank with the intention of investment at the value of £2 million or more.