Overview

You can apply for an innovator visa if:

- you want to set up or run a business in the UK
- your business or business idea has been endorsed by an approved body
- you are from outside the European Economic Area (EEA) and Switzerland
- you meet the other eligibility requirements

 

Funds required

If you want to set up a new business, you must have at least 50 000 GBP (62 000 USD) in investment funds. You do not need funds if either: your business is already established and has been endorsed for an earlier visa, or you have changed your business and already agreed it with your endorsing body.

 

How long will it take?

The earliest you can apply is 3 months before you travel. In most cases, you should receive a decision within 3 weeks. 

 

Fees

Government application fees starts from 1 021 GBP (1260 USD). Migratio’s professional fee starts at 20 000 GBP (25 000 USD).

 

How long you can stay

You can stay for 3 years if you come to the UK on an innovator visa, or switch to this visa from another visa. You can apply to extend it for another 3 years when your visa is due to expire. And there is 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 have been in the UK for 3 years.

 

What you can and cannot do

You can:

- 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

 

You cannot:

- do any work outside your business
- work as a doctor or dentist in training
- work as a professional sportsperson or coach
- get public funds

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