Europe – United Kingdom Visa – Business – Innovator Visa

1. What is the purpose of a United Kingdom Business Innovator Visa?


The purpose of a United Kingdom Business Innovator Visa is to allow individuals with innovative and scalable business ideas to come to the UK and establish their business. This visa aims to support the UK economy by attracting talented entrepreneurs who can contribute to its growth, create job opportunities, and drive innovation in various industries. It also offers a pathway for individuals to eventually settle in the UK if their business is successful.

2. Am I eligible to apply for a UK Business Innovator Visa?


To be eligible for a UK Business Innovator Visa, you must meet the following criteria:

1. Have a genuine and innovative business idea that has been assessed and endorsed by an approved endorsing body in the UK.

2. Be at least 18 years old.

3. Be able to speak, read, write and understand English at the required level.

4. Meet the financial requirements, which include having at least £50,000 in investment funds available to support your business idea.

5. Demonstrate that you have enough personal savings to support yourself while living in the UK.

6. Show your intention to establish your business in the UK and actively contribute to its growth and success.

7. Demonstrate that you do not have a controlling interest of more than 50% in any other business in the UK (unless you are switching from another visa category).

8. Provide evidence that you meet the maintenance requirements, which includes having at least £945 in your bank account for 90 days before applying for the visa.

9. Show that you are not subject to any general grounds for refusal (e.g., criminal record or immigration violations) or any previous refusals of entry clearance or leave to remain in the UK.

10. Meet all other requirements under the Immigration Rules for a visitor visa (if required for your country of residence).

3. What are the minimum financial requirements for a UK Business Innovator Visa application?


The minimum financial requirements for a UK Business Innovator Visa application are:

1. Maintenance Funds: You must have at least £945 in savings for 90 consecutive days before the date of your visa application, or evidence that you are fully supported and endorsed by an endorsing body approved by the Home Office.

2. Investment Funds: You must have at least £50,000 in investment funds to invest in your business idea in order to apply for the visa.

3. Business Plan: You must also provide a comprehensive and credible business plan that outlines your business idea, its potential viability, and how you will use the investment funds.

4. Evidence of Genuine Entrepreneurial Activity: You must demonstrate that you genuinely intend to establish a business in the UK and do not intend to engage in any other activities that would prohibit you from working full time on your business.

5. Income Requirements (for Switching from Tier 4 Student Visa): If you are switching from a Tier 4 student visa, you must also show evidence of £1,270 per month for up to nine months in living costs (up to £11,430) if applying outside of London, or £1,570 per month for up to nine months (up to £14,130) if applying within London.

6. Additional Financial Documentation: It is recommended to provide additional financial documentation such as bank statements and tax returns to prove the source and stability of your funds.

Please note that these are the minimum financial requirements and providing evidence above these amounts may strengthen your application. Additionally, it is important to keep in mind that each endorsing body may have their own specific financial requirements for endorsement.

4. Can I bring my spouse and children with me on a UK Business Innovator Visa?


Yes, you can bring your spouse and children with you on a UK Business Innovator Visa. They will need to apply for a dependant visa and meet certain eligibility requirements, such as proving their relationship to you and having enough financial support to live in the UK. They will also be able to work or study while they are in the UK.

5. How long is the processing time for a UK Business Innovator Visa?


The processing time for a UK Business Innovator Visa typically takes around 3 weeks, but it may vary depending on individual circumstances and the current workload of the visa processing center. It is important to apply well in advance to ensure sufficient time for processing.

6. Can I switch to a UK Business Innovator Visa from a different visa category once I am in the UK?


No, you cannot switch to a UK Business Innovator Visa from a different visa category once you are in the UK. You must apply for the visa from outside the UK and provide all necessary documentation and satisfy all requirements for approval. However, if you are currently in the UK on a Start-up Visa or Tier 1 Graduate Entrepreneur Visa, you can switch to a Business Innovator Visa without leaving the UK.

7. Do I need to have an innovative business idea in order to apply for a UK Business Innovator Visa?


Yes, in order to apply for a UK Business Innovator Visa, you must have a genuine and innovative business idea. The Immigration Rules define an innovative business idea as one that meets the following criteria:

– It is original or genuinely different from other businesses already operating in the UK market;
– It has the potential for growth and success in international markets;
– It is viable and feasible, with evidence to support this;
– It shows evidence of job creation and employment opportunities for the UK economy;
– It contributes to the UK’s knowledge, research or technological base.

You will also be required to provide a detailed business plan that demonstrates how your idea meets these criteria.

8. Is there an English language requirement for a UK Business Innovator Visa application?


Yes, there is an English language requirement for a UK Business Innovator Visa application. Applicants must be able to demonstrate proficiency in English at a minimum B2 level on the Common European Framework of Reference for Languages (CEFR). This can be done by taking an approved English language test or by being a national of a majority English-speaking country, such as the US, Canada, Australia, or New Zealand. Applicants may also be exempt from this requirement if they have completed a degree in an English-speaking country or if they are

holding a valid UK Partner visa that was granted on the basis of their relationship with someone who is fluent in English.

For more information about the acceptable ways to meet the English language requirement and the documents required as proof, applicants should visit the UK government’s official website for visas and immigration.

9. Do I need to have previous business experience or qualifications in order to apply for this visa?


No, previous business experience or qualifications are not mandatory requirements for the Business Innovation and Investment (subclass 188) visa. However, applicants must meet the general eligibility criteria including having a successful business or investment track record and meeting the minimum net worth and investment thresholds in order to qualify for this visa category. It is recommended that applicants seek expert advice before applying for this visa to ensure they meet all the requirements.

10. How much funding do I need to have available for my business under a UK Business Innovator Visa?


Under the UK Business Innovator visa, you will need to have at least £50,000 in investment funds available to establish your business in the UK. You must also have enough funds to support yourself and any dependants for at least 12 months without needing to rely on public funds. This means you will need to demonstrate access to a minimum of £945 per month for each applicant and an additional £630 per month for each dependant. Therefore, for a single applicant, you would need to show at least £61,200 in accessible funds (£50,000 for investment + 12 x £945 for living costs). The amount may vary depending on the number of dependants included in your application.

11. Can I bring employees from outside of the UK to work in my business under this visa category?

No, the Tier 1 Entrepreneur visa category is designed for individuals who have an innovative business idea and want to establish and run their own business in the UK. You are expected to provide employment for yourself and at least two full-time employees who are settled or British citizens.

If you wish to bring employees from outside of the UK, you may need to consider other visa options such as the Tier 2 (General) visa which allows businesses to hire skilled workers from overseas. You may also want to seek advice from a legal professional or immigration advisor for further guidance on this matter.

12. Is there an age limit for applying for a UK Business Innovator Visa?


Yes, applicants for the UK Business Innovator Visa must be 18 years or over at the time of application. There is no upper age limit for this visa category.

13. Can I extend my stay under this visa category once it expires?

Yes, you may be able to extend your stay under this visa category. The specific rules and guidelines for extending your stay will depend on the country where you obtained the visa and their immigration policies. You should check with the appropriate government agency or consulate for more information on how to extend your stay.

14.Can I apply for permanent residency in the UK after holding a Business Innovator Visa?

It is possible to apply for permanent residency in the UK after holding a Business Innovator Visa, but it will depend on various factors such as meeting the eligibility requirements and restrictions set by the UK Government. Please consult with an immigration lawyer for more specific information about your individual circumstances.

15.Am I allowed to undertake other employment or studies while on this visa?


No, you are not allowed to undertake any other form of employment while on this visa. Your visa is specifically for your current job and employer and does not allow you to work elsewhere. Similarly, you are not permitted to engage in full-time study while on this visa. If you wish to pursue other employment or education opportunities, you would need to apply for a different visa that permits such activities.

16.What is the difference between an Unrestricted and Restricted CoS and which one should I apply for under this visa category?


An Unrestricted Certificate of Sponsorship (CoS) allows an employer to sponsor an unlimited number of skilled workers for a Tier 2 Visa. A Restricted CoS, on the other hand, is subject to an annual quota set by the UK government and is limited in number.

If you are currently outside the UK and have a job offer with a UK employer who holds a Restricted CoS, you will need to apply for the Restricted CoS as part of your Tier 2 Visa application.

If you are already in the UK and switching to the Tier 2 Visa from another visa category, or if your employer holds an Unrestricted CoS, then you will not have to go through the Restricted CoS process and can apply for an Unrestricted CoS.

It is important to check with your potential employer which type of CoS they hold before starting your application process.

17.How can I demonstrate that my business idea has potential for growth and innovation?


1. Conduct market research: Gather data on the current market trends, consumer behavior, and competitive landscape to show that there is a demand for your business idea.

2. Identify a unique selling point: Clearly articulate what sets your business apart from others in the market and how it addresses a specific need or gap.

3. Create a prototype or MVP (minimum viable product): Develop a prototype or MVP to demonstrate the functionality, features, and potential of your business idea.

4. Secure partnerships: Partner with other businesses or organizations that can help validate your idea and bring credibility to your business.

5. Obtain customer feedback: Conduct surveys, focus groups, and interviews with potential customers to gather their thoughts and opinions on your idea. Use this feedback to make any necessary improvements.

6. Showcase growth potential: Develop projections for future growth based on your target market size, revenue potential, and expansion plans.

7. Highlight innovation: Clearly communicate how your business idea offers something new or innovative compared to existing solutions in the market.

8. Provide evidence of success stories: Share examples of similar businesses in different markets that have been successful with a similar concept to yours as proof of its potential for growth and innovation.

9. Demonstrate scalability: Show how your business could scale up operations, expand into new markets, or introduce new products/services as it grows.

10. Build a strong team: Highlight the skills and experience of you and your team members to demonstrate that you have the necessary expertise to execute on your idea successfully.

11. Utilize technology: Incorporate cutting-edge technology into your business model to showcase its modernity and ability to adapt to changing consumer needs/growth opportunities.

12. Highlight industry recognition/awards: If you have received any industry recognition or awards related to your business idea, include these in your pitch or presentation as they add credibility and legitimacy.

13. Discuss future trends: Discuss relevant industry trends and how your business idea aligns with them to demonstrate its potential for future growth and innovation.

14. Showcase financial viability: Present a clear and realistic financial plan that demonstrates the potential profitability of your business idea.

15. Utilize case studies: Include case studies from other businesses or industries that have successfully implemented similar ideas to showcase the potential for growth and success.

16. Provide a solid business plan: Create a comprehensive business plan that outlines the market opportunity, target market, competitive analysis, marketing strategies, financial projections, and growth plans.

17. Seek expert opinions: Ask for feedback and validation from industry experts, mentors, or advisors to further strengthen your case for potential growth and innovation.

18.What happens if my business fails during the validity of my Business Innovator Visa?


If your business fails during the validity of your Business Innovator Visa, you may no longer meet the requirements for the visa and could be at risk of having it revoked. You should inform the UK Home Office about any changes in your business or circumstances as soon as possible. If you are unable to continue running your business, you may need to find alternative employment or seek another type of visa that allows you to stay in the UK. You may also have to leave the country if you no longer have a valid visa.

19.Is it possible to switch from another type of visa, such as Tier 2, to a Business Innovator Visa while in the UK?

Yes, it is possible to switch from another type of visa, such as a Tier 2 visa, to a Business Innovator Visa while in the UK. This can be done through the Tier 1 (Innovator) switching application process. However, you must meet all the eligibility criteria for the Business Innovator Visa and may need to provide additional documents or information to support your application. It is important to consult with an immigration lawyer or advisor for guidance on the specific requirements and process for switching visas.

20.How does Brexit affect the validity and process of obtaining a UK Business Innovator Visa?


Brexit has had an impact on the validity and process of obtaining a UK Business Innovator Visa. Some of the key changes include:

1. The visa requirements have changed: As part of the post-Brexit immigration system, the UK government introduced a new points-based system for visas. The Business Innovator Visa is now included in this system, with applicants needing to score a minimum of 70 points to be eligible.

2. Introduction of a new endorsement process: To obtain a Business Innovator Visa, applicants must secure an endorsement from an approved endorsing body in the UK. This is now mandatory for all business visa applications to ensure that only truly innovative businesses are granted entry into the UK.

3. Greater focus on skills and experience: The new points-based system places greater emphasis on an applicant’s skills and experience, rather than their ability to invest funds in the UK. This means that applicants will need to demonstrate a strong track record of success in their field.

4. Impact on international students: International students who were previously able to switch to a start-up or innovator visa after completing their studies may now face some restrictions due to changes in the visa rules.

5. Limitations on access to EU markets: With Brexit, UK businesses will no longer have automatic access to EU markets, which could affect their potential for growth and innovation.

6. Changes in immigration fees: As part of the new immigration system, there have been changes made to immigration fees, including an increase in application fees for visas.

Overall, while Brexit has not fundamentally changed the purpose and benefits of the Business Innovator Visa, it has introduced significant changes that require careful consideration before applying for this visa category.