Innovator Visa for Entrepreneurs

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United Kingdom
About
Requirements
Cost of Living
Expats
Talent Migration

About

Non-EEA and Switzerland nationals who want to set up or run a business in the UK and have access to 50,000 GBP of funds, can apply for an Innovator visa. Your business or business idea must be endorsed by an approved body.

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 your business is already established and has been endorsed for an earlier visa.

This visa can be granted for up to 3 years, with extension possible. You may be able to apply for settlement (known as ‘indefinite leave to remain’) once you’ve been in the UK for 5 years.

Please note: Your visa may be cut short if your endorsement is withdrawn.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.

You can form a team with other Innovator applicants, but you cannot share the same investment funds.

Your team must have £50,000 for each Innovator applicant. For example, if you have 2 Innovator applicants, your team must have £100,000 to invest.

The United Kingdom is in the process to depart from the EU, the UK government has created this Innovator Visa for foreigners including EU Citizens.

This visa is introduced to attract entrepreneurs with investments. The UK is open and welcoming to the brightest and best to set up shop and build the tech companies that will come to define tomorrow.

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DURATION

Month(s)

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CITIZENSHIP

72 Month(s)

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FEES

1,330 (approx.)

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P. RESIDENCY

60 Month(s)

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COMPLEXITY

N/A

Eligibility Requirements for the Innovator Visa for Entrepreneurs

5 Eligibility Requirements

  • You must be at least 18 years old.
  • You need to have your business or business idea assessed by an approved body.
  • You must have access to at least £50,000 investment funds, in case you want to set up a new business in the UK. You don’t need access to these funds if already have an existing business.
  • You must meet the English language requirement of the UK.
  • You need to have had at least £945 in your bank account for 90 consecutive days before you apply.

Document Requirements for the Innovator Visa for Entrepreneurs

7 Document Required

  • Current passport or other valid travel identification, with a blank page in your passport for your visa.
  • Bank statements showing you’ve had at least £945 in savings in your bank account for 90 consecutive days before you apply.
  • Proof that you meet the English language requirement.
  • Evidence of your investment funds (if you’re setting up a new business).
  • Tuberculosis test results if you’re from a country where you have to take the test.
  • A certified translation of any documents that are not in English or Welsh.
  • You may need to provide additional documents depending on your circumstances.

Talent Migration data for United Kingdom

Talent gain & drain map of 2015-2019 data. Sourced from World Bank Digital Development Data.

Disclaimer: Visadb.io is a FREE visa database and Immigration Expert Marketplace. The information displayed in this page is not legal advice. Please speak to an Expert before applying.

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