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Start up and Innovator visa
For individuals seeking to set up and establish a new business in the UK
Start-up Visa
The UK Start-up visa is for individuals seeking to set up and establish a new business in the UK. These individuals will generally be new entrepreneurs without a track record of running their own business. There is no requirements to invest or secure any amount to funding into the business at the initial start-up stage. The UK Start-up visa category is suitable for early-stage, but high potential, entrepreneurs who are looking to start a business in the UK for the first time. Your business idea must be approved by a Home Office approved endorsing body prior to apply for your visa.
Please find general Start Up visa information and requirements to consider below: –
- There is no minimum investment funds required.
- You must have an innovative, viable and scalable business idea which must be firstly approved by an ‘endorsing body’.
- The Endorsing body must be is satisfied that you will spend the majority of your working time in the UK on developing your business venture.
- If approved, you must apply for your Start Up visa within 3 months of your approval from the endorsing body.
- If successful, your start up visa will be granted for a two-year period, however this cannot be extended and does not lead to settlement.
- In order to achieve settlement, you must switch into the Innovator visa category for a further three years.
- Partners and children under 18 can also apply as your dependents.
- You must be least 18 years old and have not previously established a business in the UK (unless you previously held leave as a Tier 1 Graduate Entrepreneur)
- You must prove you are competent in the English language to at least CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening and speaking);
- If you are outside the UK or have been in the UK for less than 12 months then you have at least £1270 to support yourself, plus £285 for a dependent partner, £315 for a first child and £200 for each additional child.
- The Home Office has published a list of endorsing bodies. This list of endorsing bodies contains the names of all currently approved UK Start-up visa endorsing bodies, as well as links to their websites and, where available, details of their application process and endorsement criteria.
- Applications for Start-up visas can be made from outside the UK, but it is also possible to switch into the Start-up visa category from within the UK provided you do not have, or were not last granted, permission as a Visitor, Short-term Student, Parent of a Child Student, Seasonal Worker, Domestic Worker in a Private Household or outside the Immigration Rules.
Innovator Visa
This route is available for more experienced personnel who have previously had experience of running their own business. The UK Innovator visa category is suitable for experienced businesspersons who are looking to set up a new business in the UK, which is innovative, viable and scalable.
Applicants are expected to present a new business idea. Generally, the business will not already exist. However, where it does, the new business should not yet have fully started trading. Applicants can work on their own as a sole founder, or together as part of an entrepreneurial team. Joint venture arrangements may also be acceptable.
The business idea may relate to any sector, provided the business idea is sufficiently innovative, viable and scalable. For example, the restriction on companies mainly engaged in property development under the previous Tier 1 Entrepreneur category does not apply. Applicants can develop other businesses as well as their main business idea.
Requirements for a UK Innovator visa
In order to qualify for a UK Innovator visa, you will need to satisfy UK Visas and Immigration that: In order to qualify for under this route, the following information and criteria will need to be assessed.
- You are at least 18 years old.
- You will need evidence of a minimum investment amount of £50,000 being available to yourself.
- These funds can come directly from yourself as the applicant or from an endorsing body if they chose to fund your application
- You will also need to have an innovative, viable and scalable business idea which is approved and supported by an endorsing body.
- The chosen endorsing body must approve your idea, being satisfied that you will spend your entire working time in the UK on developing your business venture.
- Once approved by your endorsing body, you may proceed to submitting a full Innovator visa application for acceptance to the Home Office.
- You must for your Innovator visa within 3 months of receiving your endorsement letter.
- UK Innovator visa applicants can bring their partner and any children under the age of 18 to the UK.
- You must evidence that you are competent in the English language to at least CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening, and speaking).
- Applications for Innovator visas can be made from outside the UK, but it is also possible to switch into the Innovator visa category from within the UK provided you do not have, or were not last granted, permission as a Visitor, Short-term Student, Parent of a Child Student, Seasonal Worker, Domestic Worker in a Private Household or outside the Immigration Rules.
- You do not need to be the sole founder of your business and you may be a member of an innovator team. However, each applicant must receive their own individual endorsement from an approved endorsing body. Innovator team members that are required to satisfy the investment funds requirement for a new business endorsement also cannot share the same £50,000 but must instead have at least £50,000 investment funds each.
- If your application is accepted by the Home Office, you will be granted an initial 3-year Innovator visa.
- You will be able to apply for indefinite leave to remain (settlement) as an Innovator after spending 3 years in the Innovator visa category.
Innovator visa- ILR (Settlement)
- In order to achieve indefinite leave to remain (settlement) within this category your chosen endorsing body must be satisfied that you have shown significant achievements judged against the business plan assessed in your previous endorsement.
- You are registered with Companies House as a Director or Member of your business, your business is active, trading and appears sustainable for at least the following 12 months, you have had an active key role in the day-to-day management and development of the business and you will spend your entire working time in the UK on developing your business ventures;
You satisfy at least two of the following:
- At least £50,000 has been invested into the business and actively spent furthering your business plan;
- The business has created the equivalent of at least 5 full-time jobs for resident workers, which have an average salary of at least £25,000 a year;
- The business has created the equivalent of at least 10 full-time jobs for resident workers 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;
- The business has generated a minimum annual gross revenue of £1 million in the last full year covered by its accounts.
- The business has generated a minimum annual gross revenue of £500,000 in the last full year covered by its accounts, with at least £100,000 from exporting overseas.
- You have spent not more than 180 days outside the UK in any rolling 12-month period during the 3 years prior to the date of application;
- You have sufficient knowledge of the English language and Life in the UK
Why choose MLC Immigrations Lawyer for help applying for a Start Up or Innovator Visa?
The process of either a start up or Innovator visa can be broken into two distinct stages. 1. Application to the endorsing body. 2. Application to the Home Office. Both stages require careful navigation, planning, expert guidance, and preparation. MLC Immigration Lawyers have a wealth of experience in preparing applications to the relevant endorsing bodies and thereafter the Home Office.
We have successfully assisted countless clients on their journey from a business idea to full approval. Contact our team today to gain a detailed understanding of how we can assist you.
To book a consultation or to speak to an MLC Immigration Lawyer call 0161 224 4224. Or fill out the form below.
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