If you have an innovative business idea experienced and are an experienced entrepreneur seeking to establish a business in the UK, you can apply for the Innovator visa.
Benefits of the Innovator Visa
- Can apply 3 months before you travel
- Can obtain a decision within 3 weeks when you apply from outside the UK
- Can pay lower Home Office application fees if you are from Turkey
- Can stay for 3 years
- Can apply to extend for another 3 years if you meet certain criteria
- No limit on the number of times you can extend
- Can apply for Indefinite Leave to retain after 3 years if certain criteria are met
- Can set up a business or several businesses
- Can work for your business (pre and post endorsement) including as a director, self-employed or business partner and must dedicate all your time to this business
- Can bring family members
- Can take up to 180 days absence from the UK per year
- Cannot work outside your business, or if you are a doctor or dentist in training or a professional sportsperson
- Can form a team with other Innovator Visa applicants but must each invest £50,000 and each person must be endorsed
- Can switch to this visa form certain other visas
Specific Eligibility Criteria for the UK Innovator Visa
- No minimum shareholding requirement
- You will invest £50,000 in your business
- You genuinely want to set up and are capable of running a new innovative business with a new idea in the UK
- Your business or business idea has been endorsed by an approved endorsing body not more than 3 months of you visa application date and shall remain endorsed during your stay under this visa
- Your idea is innovative – Proof of a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage
- Your idea is viable – Applicants must be able to demonstrate the necessary skills, knowledge and experience, plus market awareness, to run a business competently
- Your idea is scalable – Evidence of structured planning and the potential for job creation and growth into national and international markets
- You will need to provide a business plan and supporting evidence
- After you start your business, you will have three checkpoints at 6, 12 and 24 months to update the endorsing body on your progress and confirm the compliance with all the requirements and maintain your endorsement and visa
- You cannot be a director of any overseas companies as that would class as employment, but you can hold majority shares as long as your interest is purely financial.
- To satisfy the criteria to extend the Innovator Visa an approved UK endorsing body must be satisfied that you have shown significant achievements judged against the business plan assessed in your previous endorsement
- To apply for Indefinite Leave to Remain you must satisfy 2 of the following criteria:
- At least £50,000 has been invested into the business and actively spent furthering the business plan
- At least 5 full-time jobs for resident workers have been created with an average salary of at least £25,000
- At least 10 full-time jobs for resident workers have been created with no average salary requirement
- The number of 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
- The business has engaged in significant research and development activity and has applied for intellectual property protection in the UK
- Achieved a gross revenue of £1 million in the last accounting year
- Achieved a gross annual revenue of at least £500,000 in the last accounting year, with at least £100,000 from exporting overseas
How Our Tier 1 Investor Visa Solicitors Can Help
This is a difficult visa to obtain and maintain due to the onerous task of obtaining an endorsement. However, Monarch Solicitors can help ensure you ensure you meet the strict criteria for endorsement and through our network of partners help you prepare your business plan and obtain an endorsement letter.
The requirements for the UK Tier 1 Investor visa are complex so it is best to take early legal advice to ensure the application is not refused and no mistake is made with the investment during the term of the investment.
We can also assist with your future business and personal requirements, for example:
- Setting up a Company
- Commercial Contracts
- Commercial Property Purchase
- Commercial Property Lease
- Buying a Residential Property
- Employment Law
Our international team can provide seamless legal services in the following languages:
In addition, our network of trusted business partners, can help you source and set up premises, obtain a business bank account and help you and your family settle in the UK.
Free UK Business Visa Guide
To assist companies and workers through the business visa options available, please see our FREE PDF GUIDE ON BUSINESS IMMIGRATION or download a copy from the right hand side of this page.
Our free business immigration guide covers:
- Standards (Business) Visitor Visa
- Sole Representative of an Overseas Company
- Turkish Businessperson (Ankara Agreement) Visa
- Turkish Worker Visa
- Innovator Visa
- Start Up Visa
- Tier 1 – Investor Visa
- Tier 1 – Global / Exceptional Talent Visa
- Tier 2 – Sponsored General Work Visa
- Sponsor Licence
More information about sole representative visa can be found at the government website GOV.UK – Innovator Visa.
Price & Service Transparency
At Monarch Solicitors we provide highly competitive legal fees for clients wishing to apply for the sole representative visa. We will provide you with a breakdown of the routine legal costs for a simple freehold purchase from the outset so that you can budget the Innovator Visa costs and fees.
Contact our Innovator Visa Solicitors
Our expert immigration lawyers are available to discuss your UK Innovator visa option and the eligibility requirements.
Please contact our UK immigration lawyers for immediate assistance by sending an email to us at [email protected] and one of our UK immigration solicitors shall call you back.
Alternatively, please call our immigration team on 0330 127 8888 for a free no obligation discussion.
Call us for a free initial consultation
The initial Innovator visa will be valid for 3 years. It is possible to extend an Innovator visa for periods of 3 years at a time and there is no maximum time limit.
No. As an Innovator visa holder, you will not be permitted take any employment other than working for the business or businesses that you have established.
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