UK Innovator Visa
Designed for professionals who either own their own business or hold senior management positions in a company and are keen to embark on a new business venture in the United Kingdom, the Innovator category is tailored for experienced entrepreneurs looking to establish a business presence in the UK.
To qualify for this program, applicants are required to have a minimum of £50,000 in available funds earmarked for investment in their business endeavor.
Successful Innovator visa recipients are granted leave to remain in the UK for three-year intervals and have the opportunity to bring their immediate family members, including spouses or partners and children under 18, to join them in the UK.
It’s essential to note that Innovator visa holders must commit their full focus to the development of their business ventures and are prohibited from engaging in other forms of employment or activities that effectively resemble employment, such as using their business to provide labor to another employer.
Upon the completion of each three-year period, Innovators have the option to apply for an extension of their stay for an additional three years or to pursue permanent settlement in the UK. Crucially, each of these stages (initial application, extension, and settlement) necessitates an endorsement from an authorized endorsing body.
With an Innovator visa you can get:
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This visa allows holders to remain for up to three years, at which point they can apply for a further three-year extension. One of the most attractive features of the Innovator founder visa is that after three years, they may be able to acquire permanent settlement in the UK; this is shorter than the normal five years required for indefinite leave to remain (ILR).