The Tier 1 UK Innovator visa is aimed at those who can demonstrate relevant experience in business. It requires an individual to set up or run an existing business in the UK. The applicant must be at least 18 years of age and have at least GBP 50,000 in investment funds.
Only £50k investment is required for the UK innovator visa which is a minimal amount.
The initial UK innovator visa is for 3 years and then can be extended.
You can get your PR/IDLR within 3-5 years depending on certain criteria with the UK innovator visa
After the initial residence visa is granted the UK innovator visa can be extended by another 3 years.
You can get your British Citizenship within 6 years with the UK innovator visa route
Fast processing of the UK innovator visa within a few months after you get the endorsing body approval.
The UK Innovator visa category is aimed at experienced entrepreneurs seeking to establish a new business in the UK. Under this route, applicants are required to demonstrate an innovative, viable and scalable business idea which is supported by a Home Office approved Endorsing Body.
Applicants must have an appropriately issued endorsement from an endorsing body approved by the Home Office for this UK innovator visa category.
The endorsing body will:
Applicants should be aware that immigration permission as an Innovator will be cut short (curtailed) if an endorsing body withdraws its endorsement of an individual migrant or if it loses its status as an endorsing body for this category.
In order to meet the UK Innovator visa requirements, the following criteria must be met:
The completed application and supporting documentation must be submitted to the diplomatic post in the applicant’s country of residence.
The time frame from the submission of the UK innovator visa application is dependent on the embassy receiving the application, and approval may take between one and eight weeks. Upon expiry of the initial three-year period, the main applicant must apply for an ‘extension of stay’ from within the UK.
The authorities will issue the applicant with a three-year extension if all relevant criteria are met. Upon being granted settlement and spending a minimum of five years in the UK (the applicant must have held ILR in the last 12 months of that period), it is possible to apply for British citizenship.
Innovator Visa holders may apply for Indefinite Leave to Remain (ILR) following their fifth year within the UK, or after 3 years should their business have been significantly successful.
This assessment is completed by reviewing progress made and achievements accomplished. Following a one-year period of holding a settled status, the applicant may apply for naturalisation provided they are able to demonstrate continuous UK residence for a minimum of 5 years.
Applicants must meet the following requirements to apply for ILR in the Innovator category:
If the applicant is making a settlement (indefinite leave to remain) application, the endorsement letter must confirm that the ’same business’ endorsement criteria continue to be satisfied, and that the applicant’s business venture meets at least two of the following requirements:
Where the applicant relies on job creation criteria, jobs must have existed for at least 12 months and comply with all relevant UK legislation, and must require at least 30 hours paid work per week.
An applicant can rely on any combination of the above, even if similar or overlapping, but cannot rely on one requirement twice.
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