UK Innovator Visa

UK Innovator Visa is for individuals who have an innovative idea and want to establish the business in UK and get a chance to apply for UK Residency by Investment Visa.

Program Highlights

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
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 funding can come from any source
You do not need any investment funds if your business is already established and has been endorsed for an earlier visa
You can form a team with other Innovator applicants, but you cannot share the same investment funds

Overview of UK Innovator Visa:

You can apply for UK visa from Dubai if:

You want to set up or run a business in the UK
You’re from outside the European Economic Area (EEA) and Switzerland
You meet the other eligibility requirements
Your business or business idea has been endorsed by an approved body Getting endorsed

You must be able to show that your business idea is:

A new idea – you cannot join or invest in a business that is already trading
Viable, with potential for growth

What you can and cannot do

Do's

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

Dont's

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 sports person, for example a sports coach
Get public funds

Applying for Settlement:

If the applicant is making a settlement application, the endorsement letter must confirm both of the following:
1. (a) The applicant meets all of the same business endorsement criteria set out in paragraph W6.6(a)-(e).
2. (b) The applicant’s business venture meets at least two of the following requirements:
(i) At least £50,000 has been invested into the business and actively spent furthering the business plan assessed in the applicant’s previous endorsement.
(ii) The number of the business’s customers has at least doubled within the most recent 3 years and is currently higher than the mean number of customers for other UK businesses offering comparable main products or services.
(iii) The business has engaged in significant research and development activity and has applied for intellectual property protection in the UK.
(iv) The business has generated a minimum annual gross revenue of £1 million in the last full year covered by its accounts.
(v) The business is generating a minimum annual gross revenue of £500,000 in the last full year covered by its accounts, with at least £100,000 from exporting overseas.
(vi) The business has created the equivalent of at least 10 full-time jobs for resident workers.
(vii) The business has created the equivalent of at least 5 full-time jobs for resident workers, which have an average salary of at least £25,000 a year (gross pay, excluding any expenses).

Processing Time – The overall processing time for UK Innovator Visa is nearly 3-5 Months*

Requirements-

Your business proposal will be required to meet certain requirements to be able to be functional in the UK.

Innovation : The prospective applicant will need to showcase that they have a genuine and unique as well as original business plan which meets a new or existing market requirement, and will thus prove to be profitable to the British economy as well as their overall work force. Just keep in mind that the candidate cannot join or invest in a business which is already trading.
Being Viable: The applicants needs to showcase that they possess the required skill, knowledge and the know-how of the market to be able to run a business successfully in to which he has put his mind in to.
Scalability: One very important Innovator visa UK requirements is for the applicant to ensure the UK government that their model of business or projected business will have the ability to generate employment as well as add to the economic growth, development and progress of the UK economy on a whole.