The Innovative Visa (Previously known as tier 1 entrepreneur visa) is the a settlement visa for entrepreneur or those businessmen who are interested in starting or running a business in UK.
The Innovator visa guidance:
- The person comes from countries outside the European Economic Area (EEA) and Switzerland.
- Under this visa, the innovator may start a new business or take up a running one being self-employed.
- You are allowed to bring family members along with you.
- You cannot apply for or receive public funds.
- You cannot work for another business as a paid employee.
- Length of UK innovator visa: Three years only. Extension allowed for three years.
- After 5 years UK innovator can apply for ‘Indefinite Leave to Remain’.
- You can apply for UK passport after one year of getting ‘Indefinite Leave to Remain’.
UK innovator visa policy guidance: UK innovator visa policy guidance states the eligibility for the applicants as follows:
- Age limit- 18 years or above
- Readily available 50,000 GBP held in one or more financial institutions and free to be spent in UK
- Money can be in or outside UK at the time of application
- Evidence that you have the required funds, where it came from and where is it held?
- Evidence that you have enough funds (apart from the investment amount), with which you can support/accommodate yourself in UK. Money from illegal sources cannot be used.
- £945 at least in your bank account.
- Amount should be there Ninety (90) consecutive days, before you apply for the visa.
- All required documents for innovator visa application plus the detailed business plan or idea endorsed by one of the approved bodies.
Documents Required for UK Innovator visa
We provide our professional visa consultancy services to non-UK residents only.
If you apply for UK innovator visa, following documents are required for the process
- A current, up to date passport.
- Evidence of funds available to you.
- A detailed business plan endorsed by an approved body.
- Evidence that you can support yourself during your stay.
- Proof of English proficiency (not required for residents of Antigua and Barbuda, Australia, the Bahamas, Barbados, Belize, Canada, Dominica, Grenada, Guyana, Jamaica, New Zealand, St. Kitts and Nevis, St. Lucia, St. Vincent and Grenadines, Trinidad and Tobago, USA).
- TB Test results (if from a country where it is required to take the test).
- A free blank page in your passport (both sides) for your visa.
- A certified translation of any documents that are not in English or Welsh.
Go to Q and A for more practical questions for UK Innovator Visa.