Tier 1 - Innovator Visa

Who is the Innovator Visa suitable for?

The Innovator visa category is suitable for experienced businesspersons who are looking to set up a new business or startup in the United Kingdom, which is innovative, viable and scalable. Applicants can work on their own as a sole founder, or together as part of an entrepreneurial team.

If you wish to join an already trading business, then the Skilled Worker Visa may be more appropriate. If you wish to invest in an already trading business, then you may wish to consider the Tier 1 Investor Visa route. If you are a senior employee of an overseas business looking to establish a commercial presence in the UK, then you may like to consider the Sole Representative of an Overseas Business route.

In order to qualify for an Innovator visa, you will need to satisfy the following requirements:

• You are at least 18 years old.
• You have at least £50,000 available to invest in your UK business or have already invested £50,000 in your UK business.
• You have been endorsed by an approved UK endorsing body that has assessed your business idea for innovation, viability and scalability and is satisfied that you will spend your entire working time in the UK on developing your business venture
• Your endorsement letter was issued no more than 3 months before the date of your Innovator visa application
• You genuinely intend to undertake, and are capable of undertaking, any work or business activity in the UK stated in your application.
• You are competent in the English language to at least CEFR Level B2
• If you are outside the UK or have been in the UK for less than 12 months then you have at least £1270 to support yourself, plus £285 for a dependent partner, £315 for a first child and £200 for each additional child.

Investment funds requirement

You will usually need to have at least £50,000 available to invest in your UK business or have already invested £50,000 in your UK business. You may rely on money of your own or funding provided by your endorsing body.

The requirement to have a 'viable' and 'scalable' business idea means that, in practice, you may need to have more than £50,000 available to invest. Some endorsing bodies require an additional level of funding as a condition of endorsement

Endorsement criteria

For your business proposal to be endorsed, an approved endorsing body will need to be satisfied that your business idea meets all the following criteria:

• Innovation - You have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage.
• Viability - You have the necessary skills, knowledge, experience, and market awareness to successfully run the business.
• Scalability - Your business plan shows evidence of structured planning and potential for job creation and growth into national and international markets.

Extend your stay

To qualify for further leave to remain as an Innovator to continue pursuing the same business venture as in your initial application you will need to satisfy similar requirements to your initial application:

• You will need to demonstrate significant achievements judged against the business plan assessed in your previous endorsement.
• You will need to demonstrate that you are registered with Companies House as a Director or Member of your business.
• Your business is active, trading and appears sustainable for at least the following 12 months.
• You have had an active key role in the day-to-day management and development of the business.
• You will spend your entire working time in the UK on developing your business ventures.

Indefinite Leave to Remain as an Innovator

To qualify for Indefinite Leave to Remain you will need to satisfy the following requirements:

• You have been endorsed by an approved UK endorsing body that is satisfied that you have shown significant achievements judged against the business plan assessed in your previous endorsement.
• You satisfy at least two of the following:
  • At least £50,000 has been invested into the business and actively spent furthering your business plan.
  • The business has created the equivalent of at least 5 full-time jobs for resident workers, which have an average salary of at least £25,000 a year.
  • The business has created the equivalent of at least 10 full-time jobs for resident workers with no average salary requirement.
  • The number of customers has at least doubled within the most recent 3 years and is currently higher than the mean number of customers for other UK businesses offering comparable main products or services.
  • The business has engaged in significant research and development activity and has applied for intellectual property protection in the UK.
  • The business has generated a minimum annual gross revenue of £1 million in the last full year covered by its accounts.
  • The business has generated a minimum annual gross revenue of £500,000 in the last full year covered by its accounts, with at least £100,000 from exporting overseas.
  • You have spent not more than 180 days outside the UK in any rolling 12 month period during the 3 years prior to the date of application.
  • You have sufficient knowledge of the English language and Life in the UK.

Why choose Westridge Legal?

Our team of experienced immigration lawyers can navigate the complex requirements of Innovator Visas and support you in your matter every step of the way.

If you wish to speak about your options directly with our specialist staff, please contact us on 0121 724 0302 to book a consultation today.