What is a UK innovator visa? A UK innovator visa means a visa for non-EEA nationals who intend to migrate to UK. UK innovator visa requirements states that UK innovator has at least 50,000 pounds to start a business in UK.
Once you have settled in UK on your UK innovator visa, it will expire in 3 years. After that as a UK innovator can apply for visa extension for a further 3 years. Upon completing a total of 5 years in the UK, you can apply for indefinite leave to remain. Once this is completed you can apply for a UK passport. There is no requirement that you have to create jobs under this innovator visa, however the one significant condition is that you your business must also be endorsed by an approval body.
The conditions for extension by approval body:
The applicant has shown significant achievements, judged against the business plan previously endorsed by first approval body.
The applicant's business has been registered with Companies House and the applicant has been registered as director or member of the company.
The business is active and continuing.
The business can be shown to be sustainable for at least the coming 12 months, predicted by company assets and liabilities as well as projected income and expenses.
The applicant has shown that he is an active key role in the day to day management and operation of the business.
The endorsing body is reasonably satisfied the applicant will spend his entire working time in the UK on continuing to develop business.