Monday, November 11, 2019

UK Innovator Visa

uk innovator visa

UK Innovator Visa
Overview
You can apply for an UK Innovator visa if:
·         you want to set up or run a business in the UK
·         you’re from outside the European Economic Area (EEA) and Switzerland
·         you meet the other eligibility requirements
·         your business or business idea has been endorsed by an approved body
Eligibility
Before you apply you need to have your business or business idea assessed by an approved body.
They will provide you with an endorsement letter if your business is viable.
You must also:
·         meet the English language requirement
·         be at least 18 years old
·         be able to prove that you have enough personal savings to support yourself while you’re in the UK

If you want to set up a new business

You must have at least £50,000 in investment funds to apply for an Innovator visa if you want to set up a new business.
Your funding can come from any source.
You do not need any investment funds if your business is already established and has been endorsed for an earlier visa.

Supporting yourself

You need to have had at least £945 in your bank account for 90 consecutive days before you apply.
You cannot use either of the following to support yourself:
·         money from your investment funds
·         money earned while working in the UK illegally

Sharing investment funds

You can form a team with other Innovator applicants, but you cannot share the same investment funds.
Your team must have £50,000 for each Innovator applicant. For example, if you have 2 Innovator applicants, your team must have £100,000 to invest.
Documents you must provide
When you apply for uk business visa you need to provide an ‘endorsement letter’ to show that an approved body has assessed your business or business idea.
You also need to provide:
·         a current passport or other valid travel identification
·         bank statements showing you’ve had at least £945 in savings in your bank account for 90 consecutive days before you apply
·         proof that you meet the English language requirement
·         evidence of your investment funds (if you’re setting up a new business)
·         your tuberculosis test results if you’re from a country where you have to take the test

 

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Val Morgan Immigration Advisers are a leading UK Law Firm with offices in London and Dubai who specialize in UK Immigration from Dubai through business set for business owners, professionals & investors.

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