UK innovator visa – The UK visa program, is a special visa program designed for foreign nationals interested in bringing in innovations to United Kingdom. Innovations here are not limited to business only, they can be research and more. The investment requirement for this program is pegged at a minimum of 50000 pounds and you also need to be endorsed by a reputable endorsing body.
Eligibility for this visa involves:
- You must not be a national of the European economic area and Switzerland.
- You are interested in setting up a business or research in United Kingdom. Please note that your business must be endorsed by an approved endorsing body. The minimum investment requirement for setting up a business in UK is 50,000 pounds but if you already have an established business present in united kingdom, you do not need any investment capital.
The UK innovator visa program was designed to replace the Tier 1 entrepreneur Visa, which was closed on the 29 of March 2019.
The innovative visa was described by UK immigration as a route designed to help bring in innovative businesspeople that are interested in setting up a business in UK. Please understand that your business must be innovative, scalable and viable for you to be considered for this visa. This visa category could lead to a final settlement in UK.
Requirements for innovator visa application
Some of the requirements needed for the innovator visa program includes:
- Innovation: You must have a prof of a valid/genuine business plan that meets the UK market needs
- Viability: Interested individuals must be able to demonstrate the required knowledge, experience and skills needed to run an innovative business idea.
- Scalable Business: You must have an evidence of structured planning and potentials that your business will be able to create jobs in future.
Entering the UK with an innovator visa program allows you to remain in UK for up to 3 years. You can also decide to apply for an extension of your visa when due and there is no limit to the amount of times you can extend your visa period. After 5 years, you will be eligible to apply for an indefinite leave to continue staying in UK for as long as you want.
Applying for an Innovator Visa UK
The application for innovator visa is done online. In addition to this, your finger prints and photograph will be needed at the UK visa application center or embassy from where you are applying from. This is important to process a biometric residence permit, which is very important when applying for the innovator visa.
The earliest you can start an innovator visa application is 3 months before you travel. It will take a minimum of at least three weeks to receive a decision on your visa application.