You can apply for an Innovator visa if:
Funds you’ll need
You must have at least £50,000 in investment funds if you want to set up a new business. You do not need funds if either:
- your business is already established and has been endorsed for an earlier visa
- you’ve changed your business and already agreed it with your endorsing body
You must be able to show that your business idea is:
- new - you cannot join or invest in a business that is already trading
- innovative - you must have an original business idea which is different from anything else on the market
- viable, with potential for growth
Read the endorsing bodies list - you should only approach ones that are suitable for your business idea.
The earliest you can apply is 3 months before you travel.
ExampleYou can apply from 16 March if you plan to travel on 15 June.
You should get a decision on your visa within 3 weeks when you apply from outside the UK.
Find out about paying for a faster decision.
How much you pay for an Innovator visa depends on your situation and where you apply from.
Who you’re applying for
Apply (outside the UK)
Extend or switch (in the UK)
You (if you’re from Turkey or Macedonia)
£1,021 each person
£1,277 each person
You’ll also have to pay the healthcare surcharge as part of your application. Check how much you’ll have to pay before you apply.
If you’re applying to extend or switch in the UK
You’ll need to pay £19.20 to have your biometric information (fingerprints and a photo) taken.
How long you can stay
You can stay for 3 years if you:
You can apply to extend for another 3 years when your visa is due to expire. There’s no limit on the number of times you can extend.
You may be able to apply for settlement (known as ‘indefinite leave to remain’) once you’ve been in the UK for 3 years.
Your visa may be cut short if your endorsement is withdrawn. If you want to stay longer, you must re-apply with a new endorsement before your current visa expires.
What you can and cannot do
- set up a business or several businesses
- work for your business - this includes being employed as a director, or self-employed as a member of a business partnership
- bring family members with you
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- do any work outside your business, for example work where you’re employed by another business
- work as a doctor or dentist in training
- work as a professional sportsperson, for example a sports coach
- get public funds
This entry was posted by admin
in category Legal Services
and tagged visa
on Sunday, 16 August 2020 20:35
in blog News & Updates