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December 3, 2020

Innovator Visa: Which documents are required to prove investment funds?

If you are an experienced businessperson who is not an EEA national looking to establish a business within the UK, you can apply for an innovator visa. You will need to have £50,000 or at least access to such funds to invest in the business or have already invested £50,000 in the business.

You will not need to have access to £50,000 where you had permission as a “Tier 1 Graduate Entrepreneur” or “Start-up” and are applying to lengthen your stay in the innovator visa category providing you are continuing with the same business venture. Or if you previously applied as an “Innovator” and are extending your stay to continue the same business venture.

How do I prove I have £50,000?

Typically, the endorsing body confirms you have the investment funds in the endorsement letter. However, not all cases are confirmed by them and there will be a requirement to submit further evidence.

Letter from a UK organisation with at least ten employees

A UK based company will have to confirm that the applicant has placed funds within that company. The letter must be dated three months before the visa application date and contain details of the funding provider and their relationship to you as the applicant.

Letter from an overseas individual or organisation

You can submit a letter from an overseas individual or organisation if they have been given funds from an overseas source. The letter must be dated three months before the visa application date and should detail the amount of funds in pounds sterling and your relationship to the fund provider.  A letter from a legal representative must accompany it and contain a declaration from the organisation or individual. You must also include a letter from the bank where the funds are held.

Evidence of personal funds invested in a business

If the innovator visa applicant posseses funds in their own name, they will have to supply three successive months bank statements together with a letter from the bank confirming the funds are held at a recognised banking institute.

Funds already invested in a business

If you have already invested funds in a business within the UK you will be required to provide business accounts of the business where the funds have been invested. The evidence will need to show the name of the accountant and the transfer date of the funds. The amount should be specified in pounds sterling and are required to be held in a financial institute that can be verified by the Home Office.

Other documents – Innovator Visa 

You will also need to provide:

  • A valid passport or other form of identification document confirming your identity and nationality
  • Evidence, in the way of bank statements, proving you have at least £1,270 in savings in your bank account for 28 successive days before applying for an innovator visa
  • Confirmation that you meet the English language requirement
  • If you are setting up a new business, evidence of the investment funds
  • If you are from a country that requires a tuberculosis test, then you should provide your test results
  • If the documents are not in English or Welsh, then you will need to provide a certified translation of those documents
  • If you come from outside the EU, Switzerland, Norway, Iceland or Liechtenstein or are within those counties but do not have a biometric passport, then you will need to have a blank page in your passport for your visa
  • Other documents may be required depending on your circumstances.

LONDON IMMIGRATION ADVISERS – Innovator Visa

Mann’s Solutions is international immigration law firm with offices in London, Hong Kong and Moscow and has expertise in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration advisers regulated by OISC.

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