This visa for the people who wants to setup and run a business in UK. This is a mandatory requirement that business idea much be innovative and unique. This routes leads to permanent residence and applicants can also acquire British nationality on the fulfilment of certain additional requirements. We can help to plan and prepare your visa application. Below are the main requirements of Innovator Visa.
Innovator Visa: Minimum of £50,000 Funds
Investment can come from any source. The Home Office could ask for the source of the funds for Money Laundering Regulations.
Evidence for Funds:
Bank statements, showing the funds are held in the UK in an institution regulated by the Financial Conduct Authority. The statements must cover a consecutive 3 months, ending no earlier than 1 month before the date of application.
The endorsement letter must confirm both of the following:
(a) The applicant’s business venture meets all of the requirements in the table below:
|The applicant has a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage.||The applicant has the necessary skills, knowledge, experience and market awareness to successfully run the business.||There is evidence of structured planning and of potential for job creation and growth into national and international markets.|
(b) The endorsing body is reasonably satisfied that the applicant will spend their entire working time in the UK on developing business ventures.
English Language Requirement
CEFR Level B2 in reading, writing, speaking and listening, equal to IELTS 5.5-6.5 Band
£945 in Bank account for 3 Months
3 Years initial visa, 3 years visa extension
After 5 years