Elevate Your Entrepreneurial Dreams with the UK Innovator Visa

BUSINESS PLAN: This process requires a business plan to be developed, detailing your business idea, strategies and projections for growth, profit, cashflow and job creation. The applicant need to prove that the business idea is genuinely innovative, inventive and original and that it serves new or existing market needs and/or creates a competitive advantage.

UNIQUE & ORIGINAL BUSINESS IDEA: First, you must have a unique and original business idea. Sound vague? Well, it simply means your plan must introduce something new to the market, or bring a novel approach to running a business. Isn’t that exciting?

INVESTMENT FUNDS: Earlier it was a requirement to show a proof that you have a minimum of £50,000 to invest in your business. The UK Government has waived the stated requirement in order to promote genuine applicants. However, you do need to prove that you have sufficient funds to invest in your business idea which is genuine, innovative and original. Depending on the nature of the firm and the evaluation of the endorsing authority, the precise investment amount varies. Typically, you’ll require money for overhead expenses, marketing, operations, and business development. These monies must actually be available; they cannot be maintenance-related personal savings. The required investment sum could be mentioned in the endorsing body’s letter of endorsement.

ENDORSEMENT: Your business plan must be endorsed by an approved UK endorsing body. These bodies evaluate your plan for its innovation, viability, and scalability. Post endorsement, an application for Innovator Visa can be submitted for approval.

NON UTILISATION OF PUBLIC FUNDS: The UK government should not be the source of any public monies sought by applicants.

AGE LIMITATIONS: The Innovator Visa is available to applicants of any age.

ACTUAL INTENTION: Applicants must demonstrate a sincere desire to launch, run, and expand their company in the UK.

NOTHING TO REPORT: The applicants’ family members and themselves cannot have a criminal history in the UK or any other nation.

FURTHER ELIBILITY CRITERIA:

• Applicants need to be 18 years of age;
• Need to be endorsed by an approved organization;
• To be in regular contact with the endorsing organization at 6, 12 and 24 month intervals;
• Satisfy the English language requirement, level B2;

EXTENSION: Innovator Visa can be extended for a further 3 years if the requisite conditions are satisfied:

• You are operating a business in the UK or want to set up a business in the UK (Your partner and Children will need to apply separately.);
• Your current visa should not have yet expired;
• You are operating a business in the UK or want to set up a business in the UK;
• Your business/business idea has been assessed by an endorsing body;
• Your business is already established and has been endorsed for an earlier visa;
• You have changed your business, and already agreed it with your endorsing body.