The UK Innovator Visa was created for people looking to move to the UK who either own an established business or have a carefully created business plan for a new business. This article looks at the eligibility criteria, how to apply and when to get help.
The UK Innovator Visa was specifically created for people looking to move to the UK who either own an established business or have a carefully created business plan for a new business. You will be required to set up and run a UK business once you have been approved for the visa.
Introduced in January 2021, the UK Innovator Visa replaced the Tier 1 Entrepreneur Visa which was phased out from 2019.
The UK innovator visa is for people who wish to run a business, or a number of businesses, in the UK. People in the UK on an innovator visa are not allowed to work for any business or take on any other work which is outside of their own businesses. This means that you cannot be employed by another business, nor can you train for another profession (eg doctor, dentist or sports coach).
Under the innovator visa you cannot apply for any benefits, income support or tax credits.
The innovator visa enables you to stay in the UK for three years in total, and you can apply to extend this for a further 3 years once the visa has expired. You can extend the visa as many times as you wish, although after 5 years of being in the UK on the innovator visa, you may be able to apply for British nationality. In some circumstances you can settle after three years.
To be eligible for the UK Innovator Visa you will need to demonstrate that you:
If you are applying for innovator visas as a team (eg business partners) each applicant will need to meet these requirements, including each applicant must have £50,000 investment fund.
Your business or business idea are critical to being accepted for a UK innovator visa. As the name suggests, one of the key requirements of your business is that it would need to be innovative and unlike anything else currently available on the market.
Once you believe it is both innovative and unique, you will need to get your business endorsed by a Home Office’s approved endorsing body. You can review the list of endorsing bodies on the UK Government Website https://www.gov.uk/government/publications/endorsing-bodies-innovator/innovator-endorsing-bodies
Endorsing bodies will not give any advice around hypothetical questions and their role in the application process is purely to evaluate your business to determine whether to endorse it or not. Your business will need to demonstrate that it is innovative, viable and scalable if it is to be endorsed.
Only bodies on the official government list can endorse a business or business plan, so you should double check the list before submitting your application.
A business or business plan is more likely to be endorsed if it meets the following guidelines:
The UK Government (Home Office) does not provide guidance over which endorsing body to choose, so you will need to carefully select someone from the list yourself.
We recommend working with a lawyer who is an immigration and visa specialist who will be able to guide you as to which endorsing body is best to approach to maximise your chances of having your business endorsed.
Once you have your endorsement letter from the endorsing body, you will also need to have a number of documents to include with your Innovator Visa application including:
Successful innovator visa applicants can also bring family to the UK providing they have their own visas – if they are from outside the European Economic Area. Your family members are welcome to come to the UK providing they are:
For each additional dependent, you will need to provide evidence that you have £630 in your bank account.
Dependents will be eligible to attend state schools and will gain the right to work once they arrive within the UK.
The basic costs when applying for an innovator visa are:
Your visa: £1,021 (or £966 if you are from Turkey or Macedonia)
Your spouse or other dependents: £1,021.
Once you have been accepted and are living in the UK, if you need to extend your Visa further, the cost for you is £1,277 and for each dependent or spouse an additional £1,277 will need to be paid per person.
In addition to the visa costs, you will also be required to pay £400 per year for a UK Immigration Health surcharge which covers any state provided health care. This is a requirement and not optional, even if you have private health cover.
Once you have applied for a visa, you will normally get a decision within 3 weeks if you are applying from outside the UK or up to 8 weeks if your application is made while living in the UK.
If your innovator visa application is refused, you will be issued with a ‘notice of refusal’. Unfortunately, if you live outside the UK, then you will have no right of appeal. However, if you live in the UK at the time of application, you may be able to apply for a review, the details of which will be contained within the ‘notice of refusal’.
The process can be complex and ensuring your business or business plan has the best possible chance of being endorsed is absolutely critical.
It is therefore recommended that you work with a lawyer who specialises in helping people successfully apply for an innovator visa.
A lawyer will be able to review your business or business plan, talk you through the financial requirements and provide advice that will give you they best possible chance of having your business endorsed.
They will also be able to make recommendations as to which endorsing body you can apply to, which can be difficult to do on your own.
The investment of working with a lawyer will ensure you have explored all avenues. If it is determined that the innovatory visa isn’t suitable for you, they may also be able to recommend a different visa which you are more likely to be accepted for.
