Innovator Visa: Investment criteria and detailed requirements

January 26, 2021

The Innovator Visa is aimed at a “more experienced business-person” who has at least £50,000 to invest in a ground-breaking and innovative business. The business should also have the potential to be scaled up quickly.

 

Requirements

An Innovator Visa applicant must satisfy the following requirements:

 

  • Applicants must have at least £50,000 to invest in their business (or have already invested this in their UK business) which needs to be endorsed by a government approved endorsing body. You can find a list of endorsing bodies at the gov.uk website.
  • The business idea must be innovative, viable, and scalable, (the endorsement criteria)
  • The endorsement letter must not be issued more that 3 months before the date of the innovator visa
  • The applicant will have to prove to the endorsing body they genuinely intend to undertake and hold the necessary skills and experience to undertake the work stated within the application. They must also confirm that the investment funds are genuinely available and they are intended for the use of the business, (the credibility criteria).
  • Applicants must demonstrate they shall work entirely on developing their business venture and may not take on any other employment outside of that business.
  • The applicant must be at least 18 years old.
  • For entry clearance, the applicant must show they hold at least £945 of available funds, plus the sum of £630 per each dependant. It is not necessary to give evidence of maintenance funds if the supporting letter from the endorsing body confirms they have been awarded at least £945 (this is in addition to the £50,000 investment funds).
  • The applicant must have a good command of English and can communicate with other businesses and potential customers. They can do this by: being a citizen of a majority English-speaking country, passing an English language test equivalent to CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening and speaking), or hold an undergraduate degree or above, predominately taught in English. Alternatively, it is acceptable to demonstrate you have met the requirement previously in a former successful application, providing the applicant obtained a grant of entry clearance or leave to remain.
  • Each applicant will need to supply a criminal records certificate.
  • To avoid the innovator visa being revoked, there is a requirement that the innovator check-in with their endorsing body at 6, 12, and 18 month intervals. Innovators will need to demonstrate they have made reasonable progress with their business, otherwise the endorsement may be withdrawn and leave to remain curtailed.
  • Each application is subject to a fee, payable to the Home Office, which is currently set at £1,021.

 

The exact requirements applicants need to satisfy can vary from case-to-case depending on individual circumstances. Mann’s Solutions are widely recognised as one of the UK’s leading immigration practices, and we pride ourselves on our approachability and ability to meet our client’s needs. We are dedicated to providing excellent immigration advice as part of a professional service.

 

Contact our Immigration Lawyers – Innovator Visa

Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow. We are specialised in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration lawyers are regulated by OISC (Office of the Immigration Services Commissioner) and IMC (Investment Migration Council).

For further information or to discuss your circumstances in a private consultation with our immigration lawyers in London Office, please contact us at enquiries@manns-solutions.com or call +44 207 993 63 46.