UK Immigration For Your Business Through The Innovator Visa

The UK is looking to bring the world’s brightest and most innovative entrepreneurs to the country. If you have a new business or business idea, then you could move to and work in the UK through the Government’s Innovator Visa scheme.

This article will give both new entrepreneurs with promising business ideas and experienced ones with already existing businesses the information they need to learn how to bring their business to the UK through the Innovator Visa. 

What can the UK Innovator Visa do for you?

The Innovator Visa allows you to: 

• Start up or launch your existing business in the UK
• Work as director of your company
• Apply for a permanent residency after 3 years or, if you prefer, apply for the Innovator Visa again. (There’s no limit to the amount of times you can apply for the visa).

Your partner and any children under 18 can move to the UK with you but they will have to fill out a seperate form. For your partner, you will have to prove that you are either married or have been living together for at least two years. 

What would make you eligible to apply?

• The UK wants business people with bold new ideas, so you need to prove that your business idea is unique and your plan is viable with strong potential for growth in the UK. Having said that, your business can’t already be trading in the UK.
• You will need to prove that you are fully able to speak and write in English.
• You need to be over 18 and have financial stability in both your personal and entrepreneurial life. This requires proof of least £1270 in your bank account for 28 consecutive days.
• If you’re a new business, you will need to have at least £50,000 in investment in your company, prove the invested amount, and show proof of the source the investment was secured from. You will not be allowed to use the money from your investment fund to support your life personally.
• Whether you’re a new or emerging entrepreneur, you will need to receive the backing of an Endorsing Body — an approved business in the UK that will offer strategic help, advice and support at six monthly intervals throughout your 3-year stay in the country.

How should you apply?

You can only apply for the Innovator Visa online. 

You will be required to prove your identity through securing a biomorphic residency permit — this means getting your fingerprints and photograph taken at a visa application centre.

It’s also beneficial to download the ‘UK Immigration: ID Check’ app which could scan your required documents for submission. The documents would vary depending on the country you are from. 

Some of the documents you will need are: 

• A valid passport or any other document that can prove your nationality and identity
• A bank statement proving the £1270 in your bank account for the last 28 days
• Proof that you have met the English language requirement
• Evidence of your investment
• Tuberculosis test results (if your country requires you to take the test)
• A letter from your Endorsing Body

All these documents, with the exception of the Endorsing Body letter, will have to be translated by a certified English translator.

Once you’ve submitted your application, you should hear back within 3 weeks if you’re applying for the first time; or within 8 weeks if you’re reapplying. Please note that Ukraine is currently causing delays to this timescale.

Applying for the Innovator Visa for the first time will cost £1021 for yourself and an extra £1021 for each person added to the application (partner or children). If you are reapplying for the visa it will cost £1277 and an extra £1277 for each person added to the application. 

In summary

An opportunity awaits for you to bring the next great business to the UK to trade and operate. Through the Innovator Visa, you are given a huge chance to achieve your entrepreneurial ambitions. 

Find out more information on the GOV website. You can take your first step today by reaching out to an Endorsing Body such as Boardroom Advisors. 

Disclaimer: These details were correct at the time of publication and see the GOV website for the current situation.

Article written by John Courtney of BoardroomAdvisors.co.